Financial Services UK

  • July 14, 2025

    Insurance Co. Accuses Ex-CEO Of Siphoning £19M At Trial

    An insurance company accused its former chief executive and a director at the start of a London trial on Monday of misappropriating millions of pounds by siphoning money from the business for his own financial benefit.

  • July 14, 2025

    Audit Watchdog Proposes Changes To Digital Reporting Guide

    The Financial Reporting Council on Monday revealed plans to update its taxonomy suite to reflect changed accounting rules and other regulatory requirements.

  • July 14, 2025

    SFO Still Yet To Use Power To Freeze Crypto Wallets

    The Serious Fraud Office has not pursued any crypto wallet freezing or forfeiture orders since their introduction over a year ago, according to an information request disclosed Monday, a month after the government pledged more in funds for the agency to invest in its investigatory capabilities.

  • July 14, 2025

    Financial Standard-Setter Says Work Needed On Climate Risks

    A global standards-setter said Monday there has been good progress on a number of areas it mapped out in 2021 to tackle climate-related financial risks, but that work still needs to be done.

  • July 14, 2025

    Clifford Chance Denies Blame For SocGen's $483M Gold Loss

    Clifford Chance LLP has denied breaching any duty to Société Générale SA with its advice on a $483 million gold bullion dispute, telling a London court that the blame for the French bank's failed claim lies elsewhere.

  • July 14, 2025

    Lender Denies Helping Pharma Boss Secure Secret £6M Loan

    A business lender has denied working with the now-former chief executive officer of an online pharmacy to take out about £6.1 million ($8.2 million) in unauthorized loans under the company's name without the knowledge of investors or board members.

  • July 14, 2025

    Wealth Manager Sues For £4.5M Over Failed Investment Deal

    A Swiss wealth manager has sued a U.K. company for 5 million Swiss francs ($6.3 million), saying that it failed to return its investment after a share purchase deal went sideways.

  • July 14, 2025

    HSBC Becomes Latest Bank To Quit Net Zero Finance Group

    HSBC has become the latest bank to quit a global banking coalition focused on mitigating climate change in alignment with the Paris Agreement, following multiple recent departures by lenders.

  • July 14, 2025

    Investment Association Urges Better Support For UK Retirees

    The Investment Association has said Britain can do more to help its savers use their money more wisely once they retire, mapping out a string of proposals it said would support better outcomes in later life.

  • July 14, 2025

    Crédit Agricole Seeks ECB Approval To Buy 20% BPM Stake

    French lender Crédit Agricole said Monday that it is seeking approval from the European Central Bank to increase its stake in Italian rival Banco BPM to more than 20%.

  • July 11, 2025

    Deceased Financiers' Assets Tapped To Cover Thai Bank Debt

    The liquidators of a collapsed Thai lender can be paid from the English assets of two deceased financiers convicted over an embezzlement scheme, after a judge held Friday the funds can go to partially cover a judgment debt totaling £60 million ($81 million).

  • July 11, 2025

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

    This past week in London has seen HS2 hit with a defamation claim by two ex-employees who blew the whistle on alleged under-reporting of costs, Craig Wright and nChain face legal action brought by its former chief financial officer over a fraud scheme, and pro-footballer Axel Tuanzebe bring a clinical negligence claim against his former club Manchester United F.C. Here, Law360 looks at these and other new claims in the U.K.

  • July 11, 2025

    City Group Asks Gov't For Light-Touch Carbon Market Regs

    A financial services trade body said Friday it has asked the government for light-touch regulation of voluntary carbon and nature markets in the U.K., using existing watchdogs.

  • July 11, 2025

    ESMA Warns Crypto Firms To Clarify Unregulated Products

    The European Union's financial markets watchdog said Friday that regulated crypto-asset service providers must make it clear to consumers which of the products and services they offer are unregulated. 

  • July 11, 2025

    Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze

    A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.

  • July 10, 2025

    Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers

    A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.

  • July 10, 2025

    UK Watchdog Investigating Deloitte, Azets Over Stenn Audits

    The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.

  • July 10, 2025

    Swiss PE Group To Buy Stake In Indian Lender For $228M

    Swiss private equity shop Partners Group said Thursday that it has agreed to acquire a "significant majority stake" in Infinity Fincorp Solutions, a non-bank lender in India, for 19.5 billion Indian rupees ($228 million).

  • July 10, 2025

    Aegon Urges Bold Pension Reforms In Anticipated UK Review

    The U.K. government should launch its pensions adequacy review as part of its annual financial services strategy announcement next week, an insurer said Thursday.

  • July 10, 2025

    FCA Plans Investor Rule Overhaul To Boost Capital Markets

    The Financial Conduct Authority said Thursday that it will amend its client categorization rules in a bid to encourage wealthy and experienced investors to plow more cash into London's ailing equity capital markets.

  • July 10, 2025

    BoE Head Bailey Opposes Gov't Pension Investment Mandate

    The governor of the Bank of England has said he disagrees with the idea of requiring pension funds by law to invest in U.K. assets, in an intervention that experts say could have a knock-on effect for flagship legislation for the sector.

  • July 10, 2025

    Clifford Chance Guides Jupiter's £100M CCLA Deal

    London-listed Jupiter Fund Management PLC said Thursday that it will buy ethical investment company CCLA for £100 million ($136 million) in a bid to break into managing assets in the non-profit sector.

  • July 09, 2025

    Sweden Wins €60M Pension Fraud Case Against Financier

    A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.

  • July 09, 2025

    British Airways Pensions Biz Unfairly Sacked Investment Exec

    An employment tribunal has ruled that British Airways' pensions unit botched an investigation into a senior investment specialist over a confidential email he sent to himself during a workplace restructuring dispute, even though the employee was partly responsible for his ultimate dismissal.

  • July 09, 2025

    Authorities Urged To Stagger Local Gov't Pension Fixes

    The U.K. government should stagger the raft of proposed fixes to the Local Government Pension Scheme so as not to overwhelm administrators, Hymans Robertson has warned, calling for expectations to be realistic.

Expert Analysis

  • Identifying Data Center Investment Challenges, Opportunities

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    The role of data centers is expanding, as are new opportunities for private capital investors, but there are issues to consider, including finance models and contract complexity, as well as power supply, cyber threat resilience and data sovereignty, say lawyers at Ropes & Gray.

  • What EU Bank Regulator's Letter Means For Crypto Providers

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    A recent letter from the European Banking Authority notes a need to avoid dual authorization for e-money token transactions under European Union payment services and cryptocurrency regulations, which could result in a high regulatory burden for crypto-asset service providers and leaves open questions for future political negotiations, say lawyers at Morgan Lewis.

  • How Regulators Want Online Platforms To Fight Finance Fraud

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    Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.

  • FCA Notes Industry Criticism But Keeps Transparency Focus

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    The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.

  • Anticipating A Shift In CMA Merger Control Enforcement

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    As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.

  • Court Backing Of FCA Pensions Ruling Sends Key Message

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    The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.

  • Saxon Woods Ruling Tightens Rules On Director Good Faith

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    The recent Court of Appeal judgment in Saxon Woods v. Costa departs from the High Court's ruling, clarifying that a director's sincere belief they have acted in the company’s best interests is not sufficient to satisfy the statutory requirement to act in good faith, say lawyers at Covington.

  • Key Points From HMRC's Tax Reform Proposals

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    Although HM Revenue & Customs’ recent proposals for reform of U.K. transfer pricing and permanent establishment rules align with the latest international consensus, certain amendments may lead to future controversy, say lawyers at Skadden.

  • What To Note As UK Adopts OECD Crypto Disclosure Rules

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    With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.

  • Comparing Stablecoin Bills From UK, EU, US And Hong Kong

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    For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.

  • How UK Law Firms Can Counter Money Laundering Threat

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    With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.

  • Key Takeaways As EU And UK Impose New Russia Sanctions

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    The European Union and U.K.’s new sanctions on Russia, designating increasing numbers of non-Russian companies in the defense and shipping sectors, mean that organizations must examine from the outset whether a transaction has any nexus with the EU or the U.K., say lawyers at Sullivan & Cromwell.

  • Pension Schemes Bill's Most Notable, Controversial Measures

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    The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.

  • What New FCA Private Stock Market System Could Offer Cos.

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    While the Financial Conduct Authority’s new secondary private stock market system will bring more control and less ongoing regulatory compliance than a public market, but because the regime grants a significant degree of flexibility to operators it may be some time before a full operational picture emerges, says Iain Wright at Morgan Lewis.

  • Fraud Office Guidance Highlights Value Of Self-Reporting

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    New guidance from the U.K.'s Serious Fraud Office on corporate self-reporting, cooperation and deferred prosecution agreements provides a useful framework for companies navigating criminal investigations and their potential resolutions — and underscores that corporations that self-report are in a better position to obtain DPAs than those that do not, say lawyers at Skadden.

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