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Financial Services UK

  • July 07, 2025

    Pension Regulator Teams With Industry On Net-Zero Transition

    The Pensions Regulator said Monday it will work with workplace pension schemes and financial advisers to develop a format for occupational pension schemes to develop voluntary transition plans in line with the government's aim to reach net-zero by 2050.

  • July 07, 2025

    First Valuation Submitted Under New Pension Funding Code

    Barnett Waddingham said Monday it had filed the first pension valuation of a retirement scheme under the new defined benefit funding code introduced by The Pensions Regulator last year.

  • July 07, 2025

    US Payments Biz Gets Extension To Bid For UK Fintech

    U.K. financial services provider Alpha Group International PLC said Monday that it has extended the deadline for potential buyer Corpay Inc., to weigh making a firm offer, following "constructive discussions" with the U.S. business payments company.

  • July 07, 2025

    FCA Amends Exposed-Persons Definition In AML Guidance

    The City watchdog published amended guidance on Monday on politically exposed persons that loosen the rules for holders of prominent public positions in the U.K., in a bid to make the safeguards more proportionate.

  • July 07, 2025

    Actuaries Warn Over Safeguards In Pension Surplus Rules

    Most consulting actuaries do not believe that there should be a level at which pension plan trustees are required to release surplus funds tied up in their plans, in line with measures announced by the government, a trade body said Monday.

  • July 07, 2025

    Gov't Pension Reforms Could Add £29K To Workers' Savings

    Millions of U.K. savers on average salaries could see their pension pots rise by up to £29,000 ($39,400) by their retirement date once proposed reforms that aim to "revolutionize" the sector are enacted, the government revealed on Monday.

  • July 04, 2025

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen the owner of Crystal Palace and the troubled Olympique Lyonnais football clubs sue its current chief executive John Textor, Fieldfisher faces a claim by Georgian businessman Zaza Okusahvili, and a dispute partner at Travers Smith file a personal injury claim against the firm.

  • July 04, 2025

    Ex-Janus Analyst, Sister Given 11 Years For Insider Trading

    A former City hedge fund analyst and his sister were sentenced by a London judge on Friday to a combined 11 years in prison for insider dealing and money laundering after they traded using confidential information to earn almost £1 million ($1.36 million) illegally.

  • July 04, 2025

    Financial Trade Body Sets Out Proposals For Growth To Gov't

    A trade body for financial institutions published on Friday its recommendations on HM Treasury's plans to support growth and reinforce Britain's position as a global financial center, including reconsideration of the Consumer Duty.

  • July 04, 2025

    Ankle Tag Investors Deny £320M Conspiracy With Sacked CEO

    Investors in a company which makes ankle tags have denied a £320 million ($437 million) claim that they conspired with the business's ousted chief executive to unlawfully profit from share sales.

  • July 04, 2025

    Pair Gets 12 Years In Prison For £1.5M Crypto-Investment Fraud

    A London judge sentenced two men convicted of fraud to almost 12 years imprisonment on Friday for their involvement in a £1.5 million ($1.9 million) crypto-investment scam that spanned more than two years.

  • July 04, 2025

    UK Pensions Body Warns Over £15M Lifeboat Scheme Levy

    The U.K. government should abolish an administration levy for the pension compensation scheme, a trade body has warned, after it emerged that retirement savings plans faced an unexpected £15 million ($20.5 million) bill.

  • July 04, 2025

    UK Pension Funds Braced For Further Trump Tariff Volatility

    The U.K. pensions sector could face further market volatility in the second half of 2025 because of renewed trade tariffs or geopolitical conflicts, a consultancy warned Friday.

  • July 04, 2025

    Wider FCA Misconduct Rule Risks Over-Reporting Of Staff

    The rule change proposed by the Financial Conduct Authority on non-financial misconduct for 37,000 companies outside the banking sector will generate pressure on businesses to protectively report employees to the regulator rather than risk later accusations of noncompliance.

  • July 10, 2025

    Weil Rehires Private Funds Partner From A&O Shearman

    Weil Gotshal & Manges LLP said Thursday that an expert in private investment funds is returning to the firm in London from Allen Overy Shearman Sterling as part of the Weil's growth plan.

  • July 03, 2025

    UK Insurance Agency M&A Down 35% In 1st Half

    The pace of domestic mergers and acquisitions in the U.K. insurance market slowed down considerably in the first half of 2025, making it the slowest six-month period for M&A activity in the sector since the first half of 2019, a financial services consultancy said Thursday.

  • July 03, 2025

    EU Regulators Close Ranks To Fight Money Laundering

    Europe's financial regulators said on Thursday they would work with the bloc's new central anti-money laundering watchdog to ensure the effective exchange of information to combat white-collar crime.

  • July 03, 2025

    Man Denies FCA £3.9M Water Investment Fraud Charges

    A man denied that he took part in a £3.9 million ($5.3 million) water investment scam when he appeared at a criminal court in London on Thursday.

  • July 03, 2025

    Ex-Perfume Boss Can't Ax Claim Over Russia Sales

    A London judge refused Thursday to throw out a claim that accused the former boss of a luxury perfume group of damaging the reputation of his business after he admitted to exporting high-value products to Russia.

  • July 03, 2025

    Nigerian Bank Owner Plots $100M Share Offer, London Listing

    Guaranty Trust Holding Co., the parent of Nigerian lender GTBank, said Thursday that it aims to raise $100 million in a sale of new shares to recapitalize the bank to a level required by regulation, and to list the shares on the London Stock Exchange.

  • July 03, 2025

    Pinsent Masons-Led Chesnara To Buy HSBC Life For £260M

    British pensions company Chesnara PLC said Thursday it has agreed to acquire the specialist life protection and investment bond provider of banking giant HSBC for £260 million ($355 million) to give the group a "material step up in scale."

  • July 03, 2025

    Italy Clears Monte Dei Paschi's €13.3B Mediobanca Deal

    Italian lender Monte dei Paschi has said that the country's competition authority has given the green light to its €13.3 billion ($15.7 billion) proposed takeover of rival Mediobanca SpA.

  • July 02, 2025

    UK Investor Sues Accounting Firm Over £633K Tax Bill

    A U.K. investor accused an accounting firm of giving negligent tax planning advice and keeping him in the dark about correspondence with HM Revenue & Customs, which ultimately assessed nearly £633,000 ($863,000) in liabilities, according to a claim filed with the High Court.

  • July 02, 2025

    Oil Biz Seeks To Toss Ex-Directors' Sanctions Breach Defense

    A Singaporean oil company urged a judge Wednesday to throw out allegations that it breached U.S. sanctions on Iran made by its alleged former chief executive, whom it has accused of embezzling €143.8 million ($169.2 million).

  • July 09, 2025

    MoFo Bags HSF Kramer Leveraged Finance Partner In London

    Morrison Foerster has hired a borrowing specialist as a partner to join its finance and private equity groups team in London as the firm responds to "building momentum" in the market.

Expert Analysis

  • New UK Order Offers Welcome Clarity To Crypto Staking Rules

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    The recently effective Financial Services and Markets Act 2000 Amendment Order clarifies that arrangements for qualifying crypto-asset staking do not amount to a collective investment scheme, and by addressing an issue that curtailed staking activities in the U.K., facilitates the use of that practice, says Andrew Henderson at Goodwin.

  • How EU's Anticoercion Tool May Counter New US Tariffs

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    The never-before-used anticoercion instrument could allow the European Union to respond to the imposition of U.S. tariffs, potentially effective March 12, and gives EU companies a voice in the process as it provides for consultation with economic operators at different steps throughout the procedure, say lawyers at Crowell & Moring.

  • Takeaways From BoE Progress Updates On UK Digital Pound

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    The Bank of England’s recent update on a decision concerning a digital pound indicates that there is scope for innovation in the payments landscape that can help to boost economic growth, while keeping the U.K. firmly in the global conversation on digital currency development, say lawyers at Hogan Lovells.

  • Key Themes From New PRA Supervisory Letters

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    Two recent supervisory letters from the Prudential Regulation Authority outline priorities for international banks and U.K. deposit takers for the year ahead, including the need to strengthen risk culture, manage credit risk and govern data integrity, all of which indicate that banks will face greater regulatory interest in their internal controls, say lawyers at Skadden.

  • Banker Remuneration Proposals Could Affect More Than Pay

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    The Financial Conduct Authority and Prudential Regulation Authority’s pending proposals to reduce banker remuneration restrictions bring obvious personal financial advantages for bankers, but may have repercussions that result in increased scrutiny of bonus payments and wider changes to workplace culture and overall accountability, say lawyers at Fox Williams.

  • Rethinking 'No Comment' For Clients Facing Public Crises

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    “No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.

  • EU Report May Influence Regulation Of Decentralized Finance

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    The European supervisory authorities’ recent report on decentralized finance highlights the major regulatory challenges and increased cybersecurity risks of this ecosystem, and will likely provide useful guidance on how the market could be regulated to limit potential risks for investors, say Hubert de Vauplane and Hugo Bordet at Morgan Lewis.

  • Market Infrastructure Regs Aim To Reinvigorate EU Trading

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    The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.

  • Decoding Arbitral Disputes: Equal Rights Limit State Immunity

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    The Court of Appeal of England and Wales' recent determination that Spain’s London embassy could not dodge a former U.K.-based employee’s discrimination claims by invoking sovereign immunity reaffirms its position that employment and human rights should come before the privileges of foreign powers, says Josep Galvez at 4-5 Gray’s Inn.

  • How Proposed Private Share Trading System May Benefit Cos.

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    The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.

  • Nonfinancial Misconduct Lessons From Rail Worker's Win

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    While financial services firms wait for the Financial Conduct Authority’s final policy statement on nonfinancial misconduct, an Employment Tribunal’s recent award to a railroad worker targeted by a hostile human resources team provides guidance on developing even-handed and inclusive company policies, say attorneys at Shoosmiths.

  • Important Changes To Note In Accountant Ethics Code Update

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    The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.

  • A Look At Collateralized Loan Obligations Post-Reform

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    The Financial Stability Board's recent report on global securitization reforms, analyzing resilience trends in the collateralized loan obligation market post-2008, suggests that, while risk retention rules have a limited impact on observable characteristics, other structural features play a significant role in ensuring risk alignment, says Kos Vavelidis at DLA Piper.

  • What EU Sustainable Category Proposals Will Mean For Funds

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    The European Union Platform on Sustainable Finance’s recent proposals to apply stricter product categorization standards for funds subject to the Sustainable Finance Disclosure Regulation will assist retail investors in selecting sustainable products, and allow advisers to easily match their clients’ preferences, say lawyers at Debevoise.

  • What To Expect As CAT Considers Mastercard Settlement

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    It is expected that the Competition Appeal Tribunal will closely scrutinize the proposed collective settlement in Merricks v. Mastercard, including the role of the case’s litigation funder, as the CAT's past approach to such cases shows it does not treat the process as a rubber stamp exercise, say lawyers at BCLP.

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