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Financial Services UK

  • May 13, 2025

    FCA Reports Progress On Misconduct MoU With China

    The City watchdog has said it is working on a memorandum of understanding with the National Financial Regulatory Administration in China to help detect misconduct early.

  • May 13, 2025

    Mexican Credit Firm Voids Rival's 'Kushki' TMs At UKIPO

    A Mexican credit firm has persuaded U.K. intellectual property officials to nullify a payments company's "Kushki" trademarks, proving that the logos are too similar to its existing "Kueski" branding.

  • May 13, 2025

    JPMorgan Challenges VTB's Russian Suit Over Frozen $156M

    JPMorgan Chase & Co. asked a London court on Tuesday to prevent Russian state-owned VTB Bank PJSC from bringing a $156 million case in Russia over allegedly frozen funds, arguing that it had launched its claims in breach of an agreement to arbitrate in England.

  • May 13, 2025

    Pension Providers Agree To Invest £25B In UK Projects

    The government said Tuesday that it has struck a deal with the pensions industry that could result in £25 billion ($33 billion) of investment in U.K. infrastructure and clean energy projects.

  • May 12, 2025

    Craig Wright Hit With Legal Action Ban Over Meritless Claims

    Computer scientist Craig Wright has been barred from bringing legal action in the U.K. for three years, with a London court ruling on Monday that he used the courts to "terrorize perceived opponents" with meritless cases over claims he invented bitcoin.

  • May 12, 2025

    Adams Street Clinches €270M European Venture Fund

    Private markets investment manager Adams Street Partners LLC on Monday announced that it held the final closing for its latest European-focused venture fund after securing €270 million ($300 million) in capital commitments.

  • May 12, 2025

    Wells Fargo Whistleblower Claims Redundancy Was A Sham

    A former compliance officer at Wells Fargo asked the Employment Tribunal on Monday to order the bank to reinstate him, based on what he described as clear evidence that he was dismissed after he blew the whistle on alleged market abuse.

  • May 12, 2025

    NYSE Operator Blocks Crypto Co. From Using 'Ice' Branding

    U.S. financial services conglomerate Intercontinental Exchange has convinced a Dutch court to bar cryptocurrency company Ice Labs from using its "Ice Open Network" branding, arguing the public would likely assume the crypto firm was related to the international finance giant.

  • May 12, 2025

    JP Morgan Plans To End UK WeRealize Case Amid Greek Suit

    J.P. Morgan International Finance has said it intends to drop a legal claim in England that accused fintech company WeRealize of planning to breach the terms of a joint venture agreement in the latest chapter of the protracted legal battle between the business partners.

  • May 12, 2025

    ICBC Bank Sued Over €795K Fraudulent Transfer By Hacker

    A company has sued ICBC Standard Bank for allegedly transferring €795,000 ($894,000) out of its account on the instructions of an alleged hacker impersonating its director, saying that the lender is liable to refund it in full.

  • May 12, 2025

    Investment Biz Boss Sues Refinitiv Over Incorrect KYC Info

    The chief executive of an investment business has sued data and analytics giant Refinitiv for allegedly holding inaccurate information on its "know-your-client" database that incorrectly stated that her company was associated with a sanctioned individual.

  • May 12, 2025

    WTW Launches Insurance Solution For FinTech Companies

    Global insurance broker Willis on Monday launched an insurance product it said would meet the needs of financial technology companies as they look to grow.

  • May 12, 2025

    Most Fail To Verify Fraud Requests, Finance Trade Body Finds

    Only one in 10 people who takes steps to protect themselves from financial fraud checks the logic of requests for action, according to research published Monday by Take Five, an anti-fraud campaign led by UK Finance.

  • May 12, 2025

    LCP Forecasts Pensions Bill 'Crammed' With Policy Changes

    The U.K. government is likely to use forthcoming pensions legislation to include a number of reforms that have been planned for years, a consultancy said Monday.

  • May 12, 2025

    Japan's Dai-Ichi Increases Stake In UK Asset Manager To 15%

    Japanese life insurer Dai-ichi Life said Monday that it will increase its stake in Capula, a British hedge fund, to 15% as it seeks to grow its asset management business and diversify risk.

  • May 09, 2025

    Ex-Meinl Bank CEO Extradited To US On $170M Odebrecht Rap

    The former CEO of Austrian lender Meinl Bank AG was extradited from the U.K. and pled not guilty Friday to money laundering charges, stemming from allegations that he helped Odebrecht SA hide $170 million in funds used to bribe officials around the world and defraud the Brazilian government. 

  • May 09, 2025

    CMA Weighs Viagogo Bid To Buy Back IP From StubHub Sale

    The U.K.'s competition watchdog said Friday it has launched a consultation into a request from online ticket reseller Viagogo to reacquire the rights to some non-British domain names and trademarks from its former business StubHub International.

  • May 09, 2025

    Brokerage Risk Pro Loses Early Battle In Whistleblowing Case

    An employment judge has rejected a compliance manager's bid for interim relief in a row with her former employer because he did not consider it likely that a tribunal will decide she was fired from the brokerage for making protected disclosures.

  • May 09, 2025

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

    This past week in London has seen a subsidiary of State Street Corp. sue British sports betting giant Entain, Manolete Partners and HSBC tackle action just weeks after signing a £17 million revolving credit facility agreement, and a commercial fraud claim launched by EFG Bank against Mirabaud & CIE.

  • May 09, 2025

    BCLP And CMS-Led Fintech IForex Weighs London IPO

    Online trading platform iForex Financial Trading Holdings Ltd. said Friday it is considering floating its shares on London's main market to raise cash to boost its brand and invest in technology.

  • May 09, 2025

    BoE Plans To Abolish Lending Limits For Building Societies

    The Bank of England has proposed withdrawing the rulebook for building societies that limits how many fixed-rate mortgages most can offer, a landmark decision that will put the sector on a level playing field with banks.

  • May 09, 2025

    Nigeria Can Argue £15M Award Was Obtained By Fraud

    Nigeria can attempt to set aside a $15 million award in favor of a businessman who was the target of an undercover operation by the country's state security, after a London judge dismissed his bid to strike the case out.

  • May 09, 2025

    Brothers Plead Guilty To FCA Insider Dealing Charges

    Two brothers admitted on Friday to using inside information to profit from dealing in shares over four years, following a prosecution brought at a criminal court in London by the Financial Conduct Authority, the watchdog said.

  • May 09, 2025

    EU Fund Managers Call To Simplify EU Sustainability Package

    Europe's fund managers on Friday backed the European Union's bid to streamline the bloc's sustainability regulations, but warned "excessive" reductions in reporting requirements could limit investors' access to crucial environmental, social, and governance data.

  • May 09, 2025

    FCA Relaxes Asset Manager Investment Research Rules

    The Financial Conduct Authority relaxed its rules on Friday to give U.K. fund managers greater freedom in decisions on how to finance investment into research on public capital markets, part of a wider push to improve international competitiveness in the sector.

Expert Analysis

  • Putin Ruling May Have Unintended Sanctions Consequences

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    By widening the scope of control, the Court of Appeal's recent judgment in Mints v. PJSC opens the possibility that everything in Russia could be deemed to be controlled by President Vladimir Putin, which would significantly expand the U.K.'s sanctions regime in unintended ways, say attorneys at Greenberg Traurig.

  • Navigating The New Framework On Nature-Related Reporting

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    The Taskforce on Nature-related Financial Disclosures’ recently published disclosure framework represents a significant step toward the coalescence of nature-related disclosure standards for corporates and financial institutions, and has the potential to influence investor expectations and future regulation, say lawyers at Kirkland.

  • FCA Engagement Signals New Direction In ESG Disclosures

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    The Financial Conduct Authority recently published a response to a consultation on sustainability-related standards, highlighting the regulator's priorities for the U.K.'s green transition, including an early indication that it may turn its attention to nature-based disclosures, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • New Policies Will Aid UK Cos. Accessing US Capital Markets

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    The U.K. government's recent adoption of regulations permitting the use of U.S. generally accepted accounting principles, and announcement of measures to remove a 1.5% tax on certain share issues and transfers, should help ensure that England remains an attractive holding company jurisdiction for companies seeking a listing on U.S. stock exchanges, say lawyers at Davis Polk.

  • Key Takeaways From ICO Report On Workforce Monitoring

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    The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.

  • Creating A Safe Workplace Goes Beyond DEI Compliance

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    The Financial Conduct Authority and Prudential Regulation Authority recently proposed a new diversity and inclusion regulatory framework to combat sexual harassment in the workplace, and companies should take this opportunity to holistically transform their culture to ensure zero tolerance for misconduct, says Vivek Dodd at Skillcast.

  • Asset Managers Should Prepare For Nature-Related Reporting

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    Although it is doubtful that the U.K. nature-related task force’s recent recommendations for mandatory nature reporting will come into effect imminently, it is likely that investors will begin to use them to assess risks and will request asset managers to shift capital flows to more sustainable outcomes, say lawyers at Macfarlanes.

  • What Justices' Cert. Denial Of Terrorism Suit Means For Banks

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    The U.S. Supreme Court's denial of certiorari in Freeman v. HSBC Holdings lets stand the Second Circuit's decision on the narrow scope of conspiracy liability under the Justice Against Sponsors of Terrorism Act, providing protection for banks that otherwise could have faced liability for finance activities with limited connections to third parties' unlawful acts, say attorneys at Sidley.

  • Firms Should Prepare For New DEI Reporting Requirements

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    While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.

  • What The UK Digital Markets Bill Will Mean For Businesses

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    The new investigatory and enforcement powers conferred by the U.K. Digital Markets, Competition and Consumers Bill mean that although businesses may be aware of their market status due to existing EU law, they should ensure they are mindful of the changes to consumer law and the implications for digital markets, says Richard Hugo at Burges Salmon.

  • 5 Takeaways From ICO's Biometric Recognition Guidance

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    Recent guidance from the U.K. Information Commissioner’s Office is a helpful reminder of key data protection principles and obligations stemming from the U.K. General Data Protection Regulation that organizations should consider when implementing biometric recognition technology, say lawyers at Dechert.

  • Shifting From Technical To Clear Insurance Contract Wordings

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    Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.

  • A Case For The Green Investment Regime Under The ECT

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    The EU and U.K.'s potential plans to exit the Energy Charter Treaty, which has been criticized as protecting fossil fuel investments to the detriment of energy transition, ignore the significant strides taken to modernize the treaty and its ability to promote investment in cleaner energy forms, say Amy Frey and Simon Maynard at King & Spalding.

  • Considerations For Fund Managers Seeking Retail Investment

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    With recent legal developments, including a revised Long Term Investment Funds Regulation effective in 2024, supporting the market trend of retailization, there are several practical considerations for alternative fund managers embarking on a European fundraise for retail capital, say Zac Mellor-Clark and Kate Downey at Fried Frank.

  • FDI Considerations For UK Venture Capital Transactions

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    With the U.K. National Security and Investment Act highlighting foreign direct investment matters for venture capital transactions, investors dealing with companies connected to the U.K. should be alive to how the act's requirements can affect deal timelines, structures and terms, say lawyers at Covington.

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