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Financial Services UK
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June 12, 2025
Reed Smith Appoints New Head Of Its Frankfurt Office
Reed Smith LLP said Thursday that it has appointed debt finance specialist Oliver Hahnelt as the managing partner of its office in Frankfurt following the departure of its previous incumbent.
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June 12, 2025
Gowling Steers Pension Insurer's £150M Buy-In For Reach
Just Group, a pensions insurer, revealed on Thursday it has taken on retirement plan liabilities worth £150 million ($204 million) from a program sponsored by publishing giant Reach.
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June 12, 2025
Baker McKenzie Guides Credit Agricole's €345M Care Biz Deal
The healthcare subsidiary of French banking giant Crédit Agricole SA said Thursday that it will buy Petits-fils, an at-home services provider for the elderly in France, for €345 million ($400 million) from French care provider Clariane SE.
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June 12, 2025
5 Questions For Howard Kennedy Partner Rebecca Hume
The U.KÂ government is putting crypto-assets at the heart of its growth agenda, relying on the Financial Conduct Authority to shore up regulation of the sector.
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June 11, 2025
Coinbase Loses 'Bad Faith' TM Clash With Rival At EU Court
A European Union court tossed Coinbase's latest attempt to void a Japanese crypto exchange's "coinbase" trademark on Wednesday, ruling there was no proof the company acted in bad faith by registering the mark.
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June 11, 2025
UK Growth Push Puts FCA Enforcement On Unfamiliar Footing
The government's demand that regulators should prioritize growth is "largely incompatible" with their duty to deter misconduct, say lawyers who are warning clients not to interpret the political messaging as a green light to engage in risky behavior.
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June 11, 2025
EuroChem Fights Banks Over €212M Bonds In Sanctions Row
A Russian subsidiary of fertilizer producer EuroChem accused two European banks of using the pretext of sanctions imposed after the invasion of Ukraine to "never" pay out on €212 million ($244 million) in bonds, on the first day of a High Court trial Wednesday.
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June 11, 2025
37% Of Romania Cos. Fall Short On EU Reporting Standard
Almost 40% of businesses filing public country-by-country reports in Romania are failing to fully comply with the European Union's reporting standard, according to a report by a nonprofit organization.
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June 11, 2025
UBS Sues Chelsea Group For $20.6M Over Greensill Deal
UBS' asset management unit has brought a $20.6 million claim in an English court against three companies in a Cyprus-based group alleging unpaid debt resulting from a supply chain finance deal with the now-defunct Greensill Capital.
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June 11, 2025
Accountant Gets Maternity Bias Payout Boosted To £32K
A property development company must pay its former accountant £31,900 ($43,200) for maternity discrimination after she won her appeal against an initial figure of £5,000, a tribunal has ruled.
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June 11, 2025
EU Lawmakers Urged To Boost Share Settlement Competition
A trade body for financial institutions in Europe has asked lawmakers to prioritize making clearing and settlement service more competitive in plans to integrate and grow European Union capital markets.
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June 11, 2025
FCA Warns Financial Advisers Of Retirement Advice Failings
The City watchdog said Wednesday that it has found that companies providing retirement income advice are failing to record clients' financial situations or revisit their attitude to risk in a thematic review.
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June 11, 2025
Nearly 80% Of Trustees Plan To Access Pension Surplus
More than three-quarters of retirement savings plan trustees have said they are planning to use new powers floated by the government that will allow them to distribute surpluses tied up in their schemes, a consultancy has said.Â
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June 10, 2025
Innsworth Seeks Review Of £200M Mastercard Settlement Split
Litigation funder Innsworth announced Tuesday it was launching a High Court challenge to how the Competition Appeal Tribunal decided to distribute a £200 million ($270 million) settlement reached between Mastercard and Walter Merricks to end litigation over credit card fees.
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June 10, 2025
CMS Faces £10M Negligence Claim Over Investec Debt Advice
A property developer has alleged that law firm CMS owes him at least £10 million ($14 million) for negligent advice concerning a debt-restructuring plan that he says he never would have agreed to if he had been given proper warning.
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June 10, 2025
Greensill Says He Was Trapped In Katerra Restructuring Deal
Lex Greensill said Tuesday that he was "between a rock and a hard place" in a restructuring deal involving his eponymous firm and SoftBank, a Japanese investment company, as the former banker gave evidence in a $440 million trial in London of a claim brought by a collapsed Credit Suisse fund.
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June 10, 2025
UK Treasury Committee Warns HMRC Over Phishing Attack
A British treasury committee warned HM Revenue & Customs in a letter published Tuesday that its failure to report details of a breach affecting around 100,000 taxpayers is unacceptable.
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June 10, 2025
Apple, Sony Fight Class Reps Over New Legal Funding Deals
Apple, Visa, Mastercard and Sony told the Court of Appeal Tuesday that funding agreements driving multiple competition class action claims in the U.K. are unlawful and unenforceable.
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June 10, 2025
Insolvency Service Hires Crypto-Specialist To Aid Recoveries
A U.K. government agency responsible for investigating company insolvencies has appointed its first crypto-specialist to help recover digital assets such as bitcoin for creditors.
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June 10, 2025
Expanding FCA Taps Ex-Crime Agency Exec As Deputy CEO
The Financial Conduct Authority said Tuesday that it has appointed Sarah Pritchard, a qualified litigator and former director of the National Economic Crime Centre, as deputy chief executive to handle its expanding remit.
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June 10, 2025
FCA's Rathi Tries To Gauge Gov't Risk Appetite For Crypto
The Financial Conduct Authority warned a cross-party group of MPs on Tuesday it needed a steer on the government's risk appetite for crypto-assets amid the push for U.K. competitiveness and economic growth.
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June 10, 2025
Ex-Sky Sports Host Gets 11-Year Director Ban Over £10M Debt
Former Sky Sports presenter Alan Bentley has been banned from running companies for 11 years after his football betting business collapsed with debts to investors of more than £10 million ($13.5 million), the Insolvency Service revealed Tuesday.
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June 10, 2025
FCA Unveils Rules For Private Stock Market Launch
The Financial Conduct Authority set out rules on Tuesday for its world-first regulated stock market for private companies in the latest bid by Britain to boost growth and provide alternatives to London's ailing equity capital market.
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June 09, 2025
Media Biz Chair Who Misled Investors Told To Buy Out Shares
The chairman of a media company has been ordered to buy out a minority shareholder after a London appeals court said Monday that he had deliberately deceived investors about his attempts to work towards selling the company.
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June 09, 2025
Lex Greensill Claims SoftBank Hid Deal With 'Code Of Silence'
Lex Greensill testified in a $440 million London trial Monday that SoftBank, a Japanese investment company, had designed a restructuring agreement involving his firm to avoid putting potential losses on its accounts in his first public appearance since his eponymous firm's collapse.
Expert Analysis
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Key Takeaways From Proposed EU Anticorruption Directive
The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.
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How Regulation Of Tech Providers Is Breaking New Ground
The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.
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What EU Net-Zero Act Will Mean For Tech Manufacturers
Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.
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Complying With EU Commission's Joint Purchasing Rules
One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Tips For Implementing EU Sustainability Reporting Guidance
Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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Why Ukraine Aircraft Insurance Case Failed To Take Off In UK
In Aercap v. PJSC Insurance, the High Court decided the claimants could not avoid an exclusive jurisdiction clause and advance their case in England rather than Ukraine, and the reasoning is likely to be of relevance in future jurisdiction disputes, say Abigail Healey and Genevieve Douglas at Quillon Law.
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Labour's 'Fresh Approach' To Tackling Financial Crime
Given newly elected Prime Minister Sir Keir Starmer’s background as a criminal defense lawyer and director of public prosecutions, an administration with strong views on financial crime can be expected, and revenue raising and proceeds of crime recovery are likely to be at the forefront, says Matthew Cowie at Rahman Ravelli.
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Unpacking Pressures, Trends Affecting Global Supply Chains
A recent HSBC report reveals a number of trends and challenges for global supply chains in the current uncertain geopolitical landscape, and with constant emerging opportunities, companies that can stay informed, be proactive and adapt to change will be well positioned to succeed, says Michelle Craven-Faulkner at Shoosmiths.
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What UK Digital Markets Act Will Mean For Competition Law
The new Digital Markets Act’s reforms will strengthen the Competition and Markets Authority's investigatory and enforcement powers across its full remit of merger control and antitrust investigations, representing a seismic shift in the U.K. competition and consumer law landscape, say lawyers at Travers Smith.
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What New UK Labour Gov't Is Planning For Financial Services
Following the Labour Party’s U.K. election win on July 4, the new government has already announced its key missions for economic growth, green investment and tax reform, so affected Financial Conduct Authority-regulated entities should be prepared for change and on the lookout for details, says Rachael Healey at RPC.
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Companies Trading In The EU Should Heed Mondelēz Ruling
The European Commission’s recent €337.5 million fine of Mondelēz is the latest decision targeting restrictions on EU cross-border trade, and serves as a warning to companies active in the region to check their contracts and practices for illegal restraints, and to perform audits to ensure compliance, says Matthew Hall at McGuireWoods.
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Why Reperforming Loan Securitization In UK And EU May Rise
The recently published new U.K. securitization rules will largely bring the U.K.’s nonperforming loan regime in line with the European Union, and together with the success of EU and U.K. banks in reducing loan ratios, reperforming securitizations may feature more prominently in relevant markets going forward, say lawyers at Morgan Lewis.
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What French Watchdog Ruling Means For M&A Landscape
Although ultimately dismissed due to lack of evidence, the French competition authority’s recent post-closing review of several nonreportable mergers is a landmark case that highlights the increased complexity of such transactions, and is further testament to the European competition authorities’ willingness to expand their toolkit to address below-threshold M&As, say lawyers at Cleary.
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New Directors' Code Of Conduct May Serve As Useful Guide
Although the Institute of Directors’ current proposal for a voluntary code of conduct is strongly supported by its members, it must be balanced against the statutory requirement for directors to promote their company’s success, and the risk of claims by shareholders if their decisions are influenced by wider social considerations, says Matthew Watson at RPC.
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Exploring The EU's Draft Standards On Crypto Authorization
The European Securities and Markets Authority’s recently published draft standards aim to promote fair competition and a safer environment for crypto providers and investors, detailing precisely the information to be provided to national authorities in charge of screening the acquisitions of a qualifying holding, says Mathieu de Korvin at Norton Rose.