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Financial Services UK

  • June 16, 2025

    Ex-Metro Bank Execs Win Bid To Cut Fines Over Listing Error

    An appellate tribunal on Monday reduced financial penalties for two former Metro Bank executives, confirming the bank breached listing rules when it published misleading financial statements in 2018 but finding the executives were honest with the tribunal about the £900 million ($1.2 billion) reporting scandal.

  • June 16, 2025

    Mozambique Wins Bid To Add Safa Heirs In $1.9B Dispute

    A London judge ruled Monday that Mozambique should be allowed to add the heirs of shipbuilding magnate Iskandar Safa to the government's claim over a bribery scheme as it seeks to enforce a $1.9 billion damages award.

  • June 16, 2025

    Taxi Payment Business Accuses Ex-Director Of Copying App

    A company providing card payment services to taxi drivers has accused a former director of breaching his duties and infringing its copyright by poaching senior developers to set up a rival payment system. 

  • June 16, 2025

    Investors Can Pursue Claim Over Essity Tissue Biz Sale

    A London court on Monday cleared the path for a group of investment companies to pursue their claim that Swedish health and hygiene conglomerate Essity defaulted on bond notes when it sold its controlling stake in a Chinese tissue company.

  • June 16, 2025

    Metal Exchange Faces Pushback Over Transparency Plans

    Trade bodies representing financial institutions have warned the London Metal Exchange that its long-term proposals for increasing price transparency could risk it unlawfully abusing its dominant position as price data provider.

  • June 16, 2025

    Pension Bill Could Unlock £600B Market For Superfunds

    Reforms floated by the government to the U.K.'s nascent superfund regime could widen access to the new type of consolidation vehicle to around half of all defined benefit schemes, representing around £600 billion ($816 billion) of assets, a consultancy said Monday.

  • June 16, 2025

    Just Group Secures £7M Pension Deal For Insolvent Builder

    Just Group PLC said Monday that it has taken on £7 million ($9.5 million) of pension scheme liabilities of insolvent construction company The McGregor Construction (Highlands) Ltd. Pension Plan in a deal guided by CMS.

  • June 16, 2025

    VTB Sues JPMorgan Over €17M Asset Sale Amid Sanctions

    VTB has alleged that JPMorgan owes it more than €17.8 million ($21 million) over the American bank's botched handling of a trading account and failing to pay out for assets it sold after the Russian bank was hit with sanctions, widening the legal dispute between the two companies.

  • June 16, 2025

    Trader Says US Extradition For $12M Fraud May Be 'Terminal'

    A British trader wanted in the U.S. for allegedly defrauding investors as part of a $12 million "pump and dump" scheme told a London judge on Monday that his poor health should prevent his extradition on human rights grounds.

  • June 16, 2025

    Credit Suisse Life Fights $607M Liability To Ex-Georgian PM

    The Bermudan life insurance arm of Credit Suisse challenged court findings Monday that it owes $607 million in damages to the former prime minister of Georgia, saying his losses were due to fraudulent activity by an employee of its banking arm.

  • June 16, 2025

    Latham Guides Hunter Point's £1.3B Deal For Equitix Stake

    U.S. investment firm Hunter Point Capital will buy a 16.1% stake in London-based investor Equitix in a deal that values it at £1.3 billion ($1.8 billion), majority owner Tetragon Financial Group Ltd. said Monday.

  • June 16, 2025

    Hymans Robertson Launches Service For Small Pension Deals

    Hymans Robertson has launched a service it said would support smaller pension schemes with around £150 million ($204 million) or less in assets as they look to offload their liabilities to insurers.

  • June 16, 2025

    Billionaire Accuses India Of Orchestrating His Kidnap, Torture

    Billionaire Mehul Choksi accused the Indian government in a London court Monday of orchestrating his "appalling and traumatic" kidnapping and torture in the Caribbean to force him to return to India to face allegations of involvement in an $1.8 billion bank fraud.

  • June 16, 2025

    Asset Manager Tikehau, Insurers Launch Private Equity Fund

    Asset manager Tikehau Capital said Monday it has launched a private equity fund, covering cybersecurity and defense, with three leading insurers, including Société Générale Assurances.

  • June 13, 2025

    UK Businessman Defends Asset Transfer As Tax Strategy

    A British businessman denied that he transferred a company to his son to defraud a creditor, arguing it was part of a long-term tax strategy rather than a tactic to avoid repaying £4.7 million ($6.4 million) in debt.

  • June 13, 2025

    EU Guides Watchdogs On Digital Outsourcing Upsurge

    The European Union's financial markets regulator has released guidance for national watchdogs on how to regulate firms' expanding outsourcing of activities, driven by digitalization.

  • June 13, 2025

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

    This past week in London has seen Tottenham Hotspur FC kick off against Manchester United co-owner Ineos Automotive following a soured sponsorship deal, Acer and Nokia clash over patents for video coding technology, and two investors reignite litigation against the founders of an AI exercise bike business that unlawfully pocketed $1.2 million in investments to fund their own lifestyles. Here, Law360 looks at these and other new claims in the U.K.

  • June 13, 2025

    Tecnimont Must Disclose Emails In €212M Bond Dispute

    A Russian subsidiary of fertilizer producer EuroChem convinced a court Friday to compel industrial group Tecnimont to produce its communications with the Italian sanctions authority, days after the trial over the €212 million ($245 million) bond dispute kicked off.

  • June 13, 2025

    Nexo Capital Settles $126M Crypto Contract Dispute

    Cryptocurrency lending platform Nexo Capital has settled three fintech executives' claims over access to tens of millions of dollars of their digital assets, according to a court order.

  • June 13, 2025

    European Banks Seek Changes To 'Unclear' Draft AML Rules

    A trade body for European banks has warned that a European Union banking watchdog's proposed anti-money laundering rules make excessive demands on credit institutions.

  • June 13, 2025

    FCA Sees 'More To Do' In Reshaping Regulation For Growth

    The Financial Conduct Authority responded Friday to parliamentary calls for more growth-oriented regulation, saying that it is exploring new ways to boost Britain's international competitiveness on top of the steps it has already taken.

  • June 13, 2025

    France's BPCE To Buy Novo Banco In €6.4B Deal

    France's second-largest banking group BPCE said Friday that it will buy U.S. private equity shop Lone Star Fund's 75% stake in Novo Banco SA in a deal that values the Portuguese bank at €6.4 billion ($7.4 billion).

  • June 13, 2025

    Tap Global To List On AIM, Eyes Wider Investor Base

    Tap Global Group PLC said Friday it will list on London's junior alternative investment market this month, a move the digital finance platform believes will help it attract a wider pool of investors.

  • June 12, 2025

    Lords Urges Regulators To Shed Risk-Aversion, Boost Growth

    A cross-party House of Lords committee called Friday on the U.K.'s financial services watchdogs to change their culture of risk-aversion which is preventing them from promoting growth in the economy.

  • June 12, 2025

    Everbright Exec Testifies He Trusted Media Biz's Financial Info

    An executive of the Chinese financial services firm Everbright testified Thursday that a sports media rights business was portrayed as "well performing" before a joint venture acquired a majority stake, only to later discover its financial health was allegedly inflated.

Expert Analysis

  • 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.

  • Companies House False Filings Raise Issues Of Integrity

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    A recent spate of unauthorized company filings with Companies House raises specific concerns for secured lenders, but also highlights the potential for false filings to be used to facilitate fraudulent schemes, says Daniel Sullivan at Charles Russell.

  • UK Courts Continue To Struggle With Crypto-Asset Cases

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    Although the common law has proved capable of applying established principles to crypto-assets, recent cases highlight persistent challenges in identifying defendants, locating assets and determining jurisdiction, suggesting that any meaningful development will likely come from legislative or regulatory change, say Emily Saunderson and Sam Mitchell at Quadrant Chambers.

  • Comparing The UK And EU Approaches To AI Regulation

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    While there are significant points of convergence between the recently published U.K. approach to artificial intelligence regulation and the EU AI Act, there is also notable divergence between them, and it appears that the U.K. will remain a less regulatory environment for AI in the foreseeable future, say lawyers at Steptoe.

  • Lessons On Using 3rd-Party Disclosure Orders In Fraud Cases

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    The expansion of the gateway for service out of jurisdiction regarding third-party information orders has proven to be an effective tool against fraud since it was introduced in 2022, and recent case law offers practical tips on what applicants should be aware of when submitting such orders, says Rosie Wild at Cooke Young.

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