Ƶ

Financial Services UK

  • May 21, 2025

    EY Blames 'Army Of Fraudsters' For NMC Health Collapse

    EY was "duped by an army of fraudsters" who controlled NMC Health "from top to bottom" and prevented the Big Four firm from discovering failings at the healthcare chain, lawyers argued in their defense against a £2 billion ($2.7 billion) High Court claim Wednesday.

  • May 20, 2025

    JPMorgan Fell Short In Trader Spoofing Investigation

    A former metals trader at JPMorgan Chase & Co. has won his claim that he was unfairly fired on suspicion of fraud because of shortcomings in the bank's disciplinary process — but his compensation will be slim after an employment tribunal ruled it was very likely he would have been dismissed regardless.

  • May 20, 2025

    Liquidators Of 'Ponzi-Type Scheme' Co. Sue Insurer For £3M

    The liquidators of a business behind a "Ponzi-type scheme" are suing the insurer of a now-defunct company involved in the scheme's funding for more than £3 million ($4 million), pointing to its alleged failure to ensure the investment plan was legitimate.

  • May 20, 2025

    Tenn Capital, Elite Law Settle £1.9M Loan Fraud Dispute

    Tenn Capital Ltd. has settled its claim that Elite Law Solicitors Ltd. failed to secure necessary protections over a £1.9 million ($2.54 million) property loan and failing to identify the borrower as an alleged fraudster.

  • May 20, 2025

    Wine Biz CFO Loses Bid To Block US Fraud Extradition

    A wine company's former chief financial officer lost a legal appeal Tuesday against his extradition to New York to face prosecution on charges of cheating investors out of $99 million by persuading them to make interest-bearing loans using valuable wine collections as collateral.

  • May 20, 2025

    Pensions Watchdog Launches Initiative To Boost Innovation

    The Pensions Regulator has established a new service to support the development of industry ideas on products and services after the government ordered it to come up with ways to boost economic growth.

  • May 20, 2025

    Benson Mazure Fights To Nix £4.6M Negligence Case

    Benson Mazure LLP urged a London court on Tuesday to toss a £4.6 million ($6.1 million) negligence claim form an energy business, alleging that the law firm's solicitors fraudulently signed a mortgage deed that led to its collapse.

  • May 20, 2025

    Innsworth Bags £68M As Mastercard Settlement Approved

    The Competition Appeal Tribunal gave final approval on Tuesday to a £200 million settlement between Mastercard and Walter Merricks to end litigation over credit card fees, with the funder of the claim set to receive approximately £68 million.

  • May 20, 2025

    High Street Bank CEOs Warn MPs Of Rules Restricting Growth

    The chief executives of large High Street banks warned senior MPs on Tuesday that unnecessary financial regulations are restricting customer service, money flows and U.K. growth.

  • May 20, 2025

    5 Firms Hold Half Of £40B UK Pension Surplus

    Just five companies among the top 100 businesses in Britain account for half of the combined £40 billion ($53.5 billion) surplus in the country's pension plans, a consultancy said Tuesday.

  • May 19, 2025

    Osborne Clarke Pro's Conduct Risked Public Trust, SDT Says

    A disciplinary tribunal has ruled that an Osborne Clarke LLP partner committed the kind of misconduct that "would clearly undermine public trust" in lawyers by misusing legal language to try to shield an email sent on behalf of former Chancellor of the Exchequer Nadhim Zahawi from being published, explaining its decision to fine the solicitor over the incident.

  • May 19, 2025

    FCA To Oversee Buy Now, Pay Later Under New Rules

    The U.K. government set out new rules on Monday to protect consumers who buy products under buy-now, pay-later arrangements, enabling the Financial Conduct Authority to regulate the sector and the Financial Ombudsman Service to give redress in disputes.

  • May 19, 2025

    L&G Buys 75% Of US Property Investor Proprium Capital

    Legal & General said Monday that it has acquired a 75% stake in Proprium Capital Partners, a real estate private equity firm, to accelerate its growth and expand its geographic footprint in the European and Asian property sector.

  • May 19, 2025

    Gov't Warned Over Mandating UK Pension Funds' Investment

    The government must avoid introducing a legal requirement on U.K. pension plans to invest a proportion of their funds in domestic assets, a consultancy has warned.

  • May 19, 2025

    Big Tech Is Major Obstacle To Stopping UK Financial Fraud

    Anti-fraud campaigners are calling on the government to fine Big Tech companies such as Meta on repeated failures to prevent fraudulent financial advertising on their platforms with a tougher and wider regime than envisaged, with the consensus that social media is the biggest obstacle to combating investment scams.

  • May 19, 2025

    BNP Paribas Launches €1B Share Buyback

    BNP Paribas began a share repurchase program worth up to €1.084 billion ($1.2 billion) on Monday, a move expected to lower the French banking giant's outstanding share capital.

  • May 19, 2025

    Third Of Britons Have Under £10K In Pension Pots, FCA Says

    One-third of U.K. adults with a defined contribution pension plan have less than £10,000 ($13,400) accumulated in retirement savings, the Financial Conduct Authority has said.

  • May 19, 2025

    EY Accused Of Flawed Audits At NMC Health's £2B Fraud Trial

    The administrator of NMC Health accused EY on Monday of "fundamentally flawed" auditing that allowed a major fraud against its business by principal shareholders to go undetected for more than seven years, as a multibillion-pound trial kicked off.

  • May 19, 2025

    Fintech Firm IForex Plans London IPO To Fund Expansion

    IForex Financial Trading Holdings Ltd. confirmed on Monday that it will launch an initial public offering on the London Stock Exchange to help fund its expansion into new and existing markets.

  • May 16, 2025

    'Tuna Bond' Defendants Ordered To Pay $352M In Restitution

    A Brooklyn federal judge ordered three former Credit Suisse bankers and the former finance minister of Mozambique to pay a combined $352 million in restitution Friday after they pled guilty or were convicted of scheming to defraud investors in a $2 billion state-backed development initiative involving tuna fishing.

  • May 16, 2025

    25% Of UK Pension Plans Rethink US Exposure Over Tariffs

    A quarter of U.K. defined benefit pension schemes are considering pulling back from U.S. assets and dollar exposure amid ongoing uncertainty created by the recent tariffs imposed by President Donald Trump, Willis Towers Watson PLC says.

  • May 16, 2025

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

    This past week in London has seen Linklaters and EY face negligence claims from a fintech investment firm, property developer Sir John Ritblat bring legal action against a Guernsey-registered company, and fresh equal pay litigation filed against Morrisons and Safeways. Here, Law360 looks at these and other new claims in the U.K.

  • May 16, 2025

    Ex-BGC Tax Adviser Jailed For Breaching Asset Freeze Order

    A former BGC Partners employee was sentenced to 16 months committal in prison Friday for contempt by a London judge Monday after admitting he breached restrictions the court imposed after he committed a £23.5 million ($31.1 million) fraud against a subsidiary.

  • May 16, 2025

    Tycoon Claims PE Firm Unfairly Forfeited €1.5M Investment

    Peter Waddell has sued a private equity firm for €1.5 million ($1.7 million) over an investment the tycoon claims was wrongfully forfeited when the company saw him as a "nuisance" following a court battle connected with funding for his car supermarket group.

  • May 16, 2025

    Director Of UK Economic Crime Center Steps Down

    One of the most senior officials responsible for mustering Britain's fight against economic crime has stepped back from his job after a three-year stint that saw major investigations of corrupt elites and a crackdown on fraud and money laundering.

Expert Analysis

  • Opinion

    Prospects For New Fraud Prevention Prosecution Look Slim

    Author Photo

    With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.

  • What's Next After FCA Drops Troubled 'Name And Shame' Plan

    Author Photo

    A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.

  • UK Refusal Of US Extradition Request May Set New Standard

    Author Photo

    The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.

  • Insights On ESMA's Alternative Investment Fund Consultation

    Author Photo

    Aaron Mulcahy at Maples Group discusses key points from the European Securities and Markets Authority’s recent consultation on open-ended loan-originating alternative investment funds, highlighting the growth in semi-liquid evergreen funds and explaining ESMA’s proposed standards.

  • How UK Supreme Court May Assess Russia Sanctions Cases

    Author Photo

    In two recent U.K. Supreme Court cases challenging the U.K. Russia sanctions regime, the forthcoming judgments are likely to focus on proportionality and European Convention on Human Rights compatibility, and will undoubtedly influence how future challenges are shaped, says Leigh Crestohl at Zaiwalla.

  • New UK Order Offers Welcome Clarity To Crypto Staking Rules

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    “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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

    Author Photo

    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.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Financial Services UK archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!