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Financial Services UK

  • August 05, 2025

    FCA Issues £46M In Fines For Woodford Fund Failures

    The Financial Conduct Authority has provisionally hit Neil Woodford and Woodford Investment Management with fines totaling £46 million ($61 million) for alleged failures in their management of a flagship £3.7 billion fund that led to its high-profile collapse in 2019.

  • August 04, 2025

    StanChart Can't Withhold Docs In £1.5B Iran Sanctions Case

    Standard Chartered on Monday lost a bid to withhold regulatory documents from investors suing the bank for £1.5 billion ($2 billion) for allegedly making untrue or misleading statements about its noncompliance with sanctions.

  • August 04, 2025

    Court Freezes Couple's £5M Over Alleged Misuse Of Co. Cash

    A London court granted a freezing order Monday worth more than £5.1 million ($6.8 million) against a married couple accused of siphoning funds from a holding company, finding that there is a real risk that they will scatter their assets.

  • August 04, 2025

    Sellers To Pay £5M For Hiding Breaches In Education Biz Sale

    The sellers of a military education business must pay more than £5.2 million ($6.9 million) in damages to the buyer after a court held Monday they had breached the terms of the deal by not disclosing violating funding regulations.

  • August 04, 2025

    VC Firm Beats Ex-Rosenblatt Firm's Legal Bill Appeal

    A venture capital firm beat a City law firm's appeal over costs the firm claimed to be owed for its representation under a conditional fee agreement when a London judge ruled that the financial business could not be criticized for raising an argument late in its dispute about whether it was liable to pay the legal bill.

  • August 04, 2025

    Pensions Dashboards Could Ease UK Inheritance Tax 'Chaos'

    The government could use new online retirement savings portals to ease the expected chaos around introducing inheritance tax on pension wealth, a professional services company said Monday.

  • August 04, 2025

    Accountancy Boss Denies Siphoning Funds During Exit Talks

    A businessman accused of wrongly extracting at least £850,000 ($1.1 million) from an accountancy has denied this was a conspiracy to harm the firm and claimed he was taking out money he considered at the time that he and his wife were owed.

  • August 04, 2025

    UBS To Pay DOJ $300M To Settle Inherited Credit Suisse Case

    Swiss bank UBS said Monday it has agreed to pay the U.S. Department of Justice $300 million to settle outstanding obligations inherited from the mortgage-backed securities business of Credit Suisse, the lender it acquired in 2023.

  • August 04, 2025

    Motor Finance Redress Scheme Could Reach £18B, FCA Says

    The Financial Conduct Authority has proposed a compensation program for motor finance customers after a landmark U.K. Supreme Court decision on Friday found signs that consumers were being treated unfairly, as the watchdog estimated that the cost could reach £18 billion ($24 billion).

  • August 02, 2025

    Supreme Court Car Finance Verdict Slashes Lender Exposure

    The U.K. Supreme Court's landmark decision Friday to reverse most of the Court of Appeal's judgment on hidden motor finance commissions has sharply narrowed the scope of any future redress scheme from the Financial Conduct Authority — an outcome critics said favored lenders and car dealers over consumer protection.

  • August 01, 2025

    Taxation With Representation: Skadden, Wachtell, Latham

    In this week's Taxation With Representation, Union Pacific Corp. and Norfolk Southern Corp. announce megamerger plans, Palo Alto Networks acquires identity security company CyberArk, Brookfield buys British life insurer Just Group, and Duke Energy sells its Piedmont Natural Gas Tennessee local distribution business to Spire Inc.

  • August 01, 2025

    Ex-AllSaints Chair In Contempt Over Share Sale Fraud Claims

    A London court ruled Friday that the former chairman of AllSaints was in contempt of court for breaching an order to stop claiming an interest in shares in the high street fashion chain after his fraud allegations were rejected.

  • August 01, 2025

    Gov't Fines UK Biz For Russia Sanctions Breach

    The U.K.'s Office of Financial Sanctions Implementation has fined U.K.‑based business support services provider Markom Management Ltd. for violating financial sanctions tied to Russia's 2014 annexation of Crimea.

  • August 01, 2025

    Barclays Adviser Wrongly Fired Over Sexual Remarks

    A former Barclays employee was unfairly dismissed for making sexual comments to female colleagues, but he could have been fairly dismissed for the same conduct, according to a Glasgow tribunal ruling.

  • August 01, 2025

    Top Court Hands Banks Partial Win Over Motor Finance Fees

    Car finance providers won a partial victory in a landmark case over commission payments on Friday when the U.K. Supreme Court ruled that they did not owe a duty to provide customers with information about the fees, potentially avoiding a multibillion-pound compensation scheme. 

  • August 01, 2025

    FCA Widens Crypto ETN Access To Boost Competitiveness

    The Financial Conduct Authority said Friday it will lift its ban on retail access to cryptocurrency exchange‑traded notes from Oct. 8, allowing individual investors to buy these products through U.K.‑listed trading venues.

  • August 01, 2025

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

    This past week in London has seen several telco giants hit with a trademark claim, a collapsed hotel company sue a property investor in an ongoing dispute over a decades-old hotel sale, and two litigation funders square off against each other.

  • August 01, 2025

    Ogilvy & Wachtel-Led Investors Oppose Hedge Fund Merger

    A group of investors in Third Point told fellow shareholders in the hedge fund on Friday that the proposed merger with Malibu Life Reinsurance will establish "a dangerous precedent for the U.K. stock market" of not safeguarding interests of the minority.

  • August 01, 2025

    FCA Hits Brokerage With £1M Fine For Deal Report Failures

    The City watchdog said Friday that it has hit a global brokerage with a fine of more than £1 million ($1.3 million) for the "particularly serious" failure to submit complete and accurate transaction reports over a five-year period.

  • July 31, 2025

    Asset Freeze Sticks In Billionaire's $415M Fraud Case

    A London appeals court on Thursday upheld an asset freeze against a man accused of defrauding Ricardo Salinas Pliego out of more than $415 million, finding no reason to doubt the Mexican billionaire is "exceedingly wealthy" and able to compensate the other side if he ultimately loses his claim.

  • July 31, 2025

    Developer Denies Misusing Victims' Funds In £226M Fraud

    A developer convicted for running a £226 million ($299 million) Ponzi scheme denied treating overseas properties bought with his victims' money as his "pension fund" as he gave evidence in court Thursday.

  • July 31, 2025

    SocGen, ING Win €212M EuroChem Bonds Sanctions Fight

    A Russian subsidiary of EuroChem lost its fight Thursday to force European banks to pay out on €212 million ($242 million) worth of bonds, after a court ruled that the payouts are blocked because the Swiss agricultural chemicals company is owned by a sanctioned oligarch.

  • July 31, 2025

    Asset Manager Denies Breaching NDA For €118M Deals

    A London-based investment manager has sued two companies of the Italian asset manager giant Azimut for millions over deals related to an investment in a machinery manufacturer, but Azimut has denied breaching the deal saying it had been released from its obligations.

  • July 31, 2025

    FCA Finds Failings In Digital Loan Application Processes

    The Financial Conduct Authority said Thursday that some companies are designing digital loan application processes badly, slowing decision-making and excluding cost information that consumers need.

  • July 31, 2025

    SRA Warns Law Firms Over Handling Of Motor Finance Claims

    The solicitors' watchdog warned law firms Thursday that they must tell prospective clients about possible cost-free ways to pursue their motor finance commission claims before agreeing to act on a case for a fee.

Expert Analysis

  • Decoding Arbitral Disputes: The Benefits Of Non-EU Venues

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    In Spain v. Triodos, a Swedish appeal court recently annulled an intra-EU investment treaty award, reinforcing a growing trend in the bloc against enforcing such awards, and highlighting the advantages of initiating enforcement proceedings in common law jurisdictions, such as the U.K., says Josep Galvez at 4-5 Gray's Inn Square.

  • How Proposed Platforms For Unlisted Co. Trading May Work

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    The U.K. government is continuing development of its proposed private intermittent securities and capital exchange system to facilitate secondary share trading in private companies through a regulatory sandbox while ironing out details, representing an innovative step for unlisted company liquidity, say lawyers at Sullivan & Cromwell.

  • Experian Ruling Helps Cos. Navigate GDPR Transparency

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    In Information Commissioner v. Experian, the Upper Tribunal recently reaffirmed the lawfulness of the company's marketing practices, providing guidance that will assist organizations in complying with the GDPR’s transparency obligations, say lawyers at Jenner & Block.

  • Clarity Is Central Theme In FCA's Greenwashing Guidance

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    Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.

  • How New FCA Rules Strengthen Borrower Protections

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    The Financial Conduct Authority’s recently published final rules, aimed at strengthening protections for borrowers in financial difficulty by regularizing good practices across the industry, put its previous guidance on a permanent footing and send a clear message to firms that this issue remains a regulatory priority, say James Black, Julie Patient and Mark Aengenheister at Hogan Lovells.

  • Opinion

    New Property Category Not Needed To Regulate Digital Assets

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    The U.K. Law Commission's exploration of whether to create a third category of property for digital assets is derived from a misreading of historical case law, and would not be helpful in resolving any questions surrounding digital assets, says Duncan Sheehan at the University of Leeds.

  • 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.

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