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Financial Services UK

  • July 30, 2025

    Looser SMCR May Leave Banks More Open To Fraud Charges

    The Financial Conduct Authority's proposed partial relaxation of the approval process under its senior managers regime as the U.K. pushes for deregulation could leave companies more exposed to fraud prosecution as the failure to prevent fraud offense goes live in September.

  • July 29, 2025

    DOJ Drops Challenge Of Amex GBT's $570M Deal For CWT

    The U.S. Department of Justice said Tuesday that enforcers have agreed to drop their case challenging American Express Global Business Travel Inc.'s planned $570 million purchase of corporate travel management rival CWT Holdings LLC.

  • July 29, 2025

    JV Partner Found To Have Inflated Costs In London Project

    A Dubai-based businessman has largely succeeded in a complex dispute over a joint venture after a London judge ruled that other parties to the deal had inflated costs in invoices to pocket part of the payments as profit.

  • July 29, 2025

    UK Top Court's Leeway On Sanctions Could Embolden Gov't

    The respect shown by the U.K. Supreme Court to the British government on foreign affairs could encourage ministers to use sanctions in unforeseen ways, allowing politicians to achieve policy goals that are limited by legal challenges, lawyers say.

  • July 29, 2025

    Forex Biz Can't Avoid Liability For Deceit In $10M Deal

    A foreign exchange business lost its fight on Tuesday to challenge a ruling that it could not defend claims that its agent deceived a Nigerian broker in a $10 million transaction, despite winning challenges over lesser deals worth $6 million.

  • July 29, 2025

    Ex-JPMorgan Trader Drops Bid For Remedy Over Unfair Firing

    A former JPMorgan Chase metals trader has told an employment tribunal that he won't be pursuing his case for compensation any further despite winning his unfair dismissal claim against the bank over a faulty "spoofing" investigation. 

  • July 29, 2025

    Bridgehaven Buys Irish Insurer To Enter EU Market

    British insurance company Bridgehaven said it is poised to enter the European market after penning an agreement to buy the Irish insurer SureStone Insurance DAC.

  • July 29, 2025

    Tech Pro Says Alleged Software Copying Was 'Obvious' Joke

    A payments company's former head of technology has denied copying the company's software to help build a rival platform, telling a London court that his ex-employer has taken a joke about pinching the code "out of context."

  • July 29, 2025

    EU Watchdog Finds Failings In AML Defenses At Crypto-Firms

    The banking watchdog of the European Union has warned that many crypto-asset companies lack effective anti-money laundering systems, reporting that abuse of services in the sector for financial crime is a major concern.

  • July 29, 2025

    FCA Sues Property Biz Over £23M Investment Scheme

    The City watchdog said Tuesday that it has taken Concept Capital Group to a London court over an alleged unauthorized £23 million ($30 million) investment scheme related to static homes.

  • July 29, 2025

    Barclays Plans £1B Share Buyback To Reward Investors

    Barclays PLC confirmed on Tuesday plans to reward investors with a share buyback worth up to £1 billion ($1.3 billion), in line with its multibillion-pound capital returns program.

  • July 29, 2025

    Shvidler Loses Landmark UK Sanctions Challenge

    Britain's highest court upheld sanctions against billionaire oil tycoon Eugene Shvidler in a landmark ruling on Tuesday that backs the U.K. government's authority to impose the restrictions over Russia's invasion of Ukraine.

  • July 28, 2025

    Fraud Claims 'Smaller Slice' As Crypto Litigation Booms

    As litigation involving cryptocurrency significantly increases, fraud cases represent a lesser share of the total number of crypto disputes, according to a report published Monday by CMS Cameron McKenna Nabarro Olswang LLP.

  • August 04, 2025

    Travers Smith To Lose Leveraged Finance Head To Goodwin

    Goodwin Procter LLP said Monday that it has hired Travers Smith's head of leveraged finance to strengthen its growing private equity practice in London.

  • July 28, 2025

    Investment Firm Beats Ex-Risk Chief's Long COVID Bias Claim

    An asset management firm did not discriminate against its former risk chief based on his long COVID when it required him to interview for a new post after eliminating his old job, a tribunal has ruled.

  • July 28, 2025

    FCA Flags AI Risks In Benchmark Administrators' Controls

    The City watchdog warned Monday that administrators of companies that set benchmarks lack consistency in how they manage data, saying there was inadequate evidence that their controls are evolving to cover risks from new technology such as AI.

  • July 28, 2025

    Citigroup Defends $16M VTB Russian Securities Sale Losses

    Citigroup has denied claims that it caused a VTB Bank subsidiary to lose almost $16 million by taking an irrational approach to liquidating securities after the Russian lender defaulted on a demand for collateral amid market volatility following Vladimir Putin's invasion of Ukraine.

  • July 28, 2025

    UK Man Denies Making Crypto Transfers To Russian Militias

    A British-Russian national who allegedly funded pro-Russian militia groups in occupied eastern Ukraine through bitcoin payments on Monday denied breaching the U.K. sanctions regime.

  • July 28, 2025

    Investment Boss Told To Pay Back £170K From £37M Fraud

    A director of an ethical investment scheme imprisoned for defrauding investors out of £37 million ($50 million) was ordered by a court on Monday to pay back £170,000 or have two years added to his sentence.

  • July 28, 2025

    Dentons-Led Bermuda Investment Biz Signs £900M Merger

    Bermudian Investor Hansa said Monday that local rival Ocean Wilsons Holdings Ltd. has agreed to accept its all-stock merger offer that will create a company with total net assets of more than £900 million ($1.2 billion).

  • July 28, 2025

    Veteran Banker Named Interim Chair Of Financial Ombudsman

    The City watchdog said Monday that it has appointed Liam Coleman as interim chair of the Financial Ombudsman Service, following a long career in banking and the public sector.

  • July 28, 2025

    Britons Fear Impact Of Inheritance Tax Change On Pensions

    Four out of 10 people in Britain are concerned about the government's decision to bring pensions within the scope of inheritance tax, according to a survey by a consultancy on Monday.

  • July 28, 2025

    SocGen Settles €140M Clifford Chance Negligence Claim

    Société Générale SA and Clifford Chance LLP have settled their €140 million ($163.3 million) dispute over the bank's allegations that the law firm gave negligent advice that caused its claim in a multimillion-dollar dispute over gold bullion to be struck out as an abuse of process.

  • July 27, 2025

    Suspected Trading Scam 'Mastermind' Can't Block Extradition

    An Israeli accused of being the "mastermind" behind call centers that allegedly scammed investors out of €14 million ($16 million) by posing as trading platform employees lost a bid on Friday to block his extradition to Germany from the U.K.

  • July 25, 2025

    Switzerland Faces $5B Claim After Credit Suisse Collapse

    Switzerland is facing another claim arising from the 2023 collapse of Credit Suisse and the write-down of some $17 billion worth of Additional Tier 1 bonds, as global law firm Holman Fenwick Willan LLP announced its intention to file a $5 billion investor-state claim against the country on behalf of a "substantial group" of bondholders.

Expert Analysis

  • Experian Ruling Helps Cos. Navigate GDPR Transparency

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    In Information Commissioner v. Experian, the Upper Tribunal recently reaffirmed the lawfulness of the company's marketing practices, providing guidance that will assist organizations in complying with the GDPR’s transparency obligations, say lawyers at Jenner & Block.

  • Clarity Is Central Theme In FCA's Greenwashing Guidance

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    Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.

  • How New FCA Rules Strengthen Borrower Protections

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    The Financial Conduct Authority’s recently published final rules, aimed at strengthening protections for borrowers in financial difficulty by regularizing good practices across the industry, put its previous guidance on a permanent footing and send a clear message to firms that this issue remains a regulatory priority, say James Black, Julie Patient and Mark Aengenheister at Hogan Lovells.

  • Opinion

    New Property Category Not Needed To Regulate Digital Assets

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    The U.K. Law Commission's exploration of whether to create a third category of property for digital assets is derived from a misreading of historical case law, and would not be helpful in resolving any questions surrounding digital assets, says Duncan Sheehan at the University of Leeds.

  • FTSE Draft Rules Show Impact Of FCA Listing Reforms

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    FTSE Russell’s recently published provisional rule changes represent a much-awaited indication of its response to the U.K. Financial Conduct Authority’s proposed listing reforms, providing a level of certainty that will assist issuers and advisers in preparing for the implementation of the regime, say lawyers at Davis Polk.

  • FCA Strikes A Balance With 'Finfluencer' Guidance

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    With financial firms leveraging social media to engage with a broader audience, the Financial Conduct Authority’s recent "finfluencer" guidance signals a recognition of the imperative to adapt regulatory frameworks while maintaining a firm commitment to consumer protection, say David Allinson and Damien O'Malley at RPC.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What To Know About The Russia-Stranded Plane Ruling

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    The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.

  • 3 Notable Pensions Reforms In Spring Budget

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    The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.

  • Assessing The FCA Data Study's Response To User Concerns

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    The Financial Conduct Authority’s recently published report on the supply of wholesale financial data differs from others in its exceptional breadth and analysis of an enormous volume of information, but in its reluctance to address market power or pricing directly, the regulator’s approach is still cautious, say Emma Radcliffe and Greg Dowell at Macfarlanes.

  • Focus On Private Funds Will Boost Ireland's Global Standing

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    As the market increasingly pivots to private funds, Ireland's recent introduction of particular products — such as an updated, flexible European long-term investment fund — provides more structuring opportunities and paves the way for a brighter outlook in the country, say lawyers at Dechert.

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Traversing The Web Of Nonjudicial Grievance Mechanisms

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    Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.

  • Opinion

    FCA Greenwashing Rules Need To Be Stronger To Be Effective

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    The Financial Conduct Authority's forthcoming anti-greenwashing measures, aimed at ensuring the veracity of regulated entities’ statements about sustainability credentials, need external scrutiny and an effective definition of "corporate social responsibility" to give them bite, says Jingchen Zhao at Nottingham Trent University.

  • EU Ruling Exposes Sovereignty Fissures In Int'l Arbitration

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    The European Court of Justice's recent ruling that the U.K. had breached EU law by allowing an arbitral award to proceed underscores the diminished influence of EU jurisprudence in the U.K., hinting at the EU courts' increasingly nominal sway in international arbitration within jurisdictions that prize legal autonomy, says Josep Galvez at 4-5 Gray’s Inn.

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