Financial Services UK

  • April 25, 2025

    UK Law, Accounting Bodies Queried On Poor SAR Records

    The anti-money laundering unit of the Financial Conduct Authority has told legal and accounting professional bodies to justify their failure to check the quality of suspicious activity reports by their member firms.

  • April 25, 2025

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

    This past week in London has seen pub operator Stonegate sue insurance broker Marsh, a human rights lawyer sued for defamation by Russian businessman Ovik Mkrtchyan, and British toy-maker The Character Group reignite an employment dispute with a former finance director. Here, Law360 looks at these and other new claims in the U.K.

  • April 25, 2025

    Gov't Repaid £1.4B In Pension 'Overtaxation' Since 2015

    The U.K. government was forced to pay back £44 million ($58.6 million) in the first quarter to people who have been charged too much tax on pension withdrawals, bringing the total repaid to date to £1.4 billion.

  • April 25, 2025

    Crypto Firm Denies Joint Venture Claim From Tether Unit

    A crypto trading firm has hit back against a claim by a unit of the blockchain company Tether over a soured bitcoin mining joint venture, arguing it owns any trade secrets or proprietary information generated by its investments.

  • April 25, 2025

    Argentex CEO Exits As Stricken FX Firm Mulls £3M Bid

    Argentex Group PLC said Friday it has replaced its head and named its chief operating officer as interim CEO, as the U.K. foreign exchange service provider navigates a financial crisis and a possible sale of the company.

  • April 25, 2025

    Aegon Defeats Worker's Contract Claim After Work Transfer

    Aegon has beaten an unfair dismissal claim brought by a former Nationwide employee who resigned after his job transferred to the insurer, arguing that changes to his work conditions left him no choice but to quit.

  • April 24, 2025

    Ex-EY, PwC Execs' New Venture Backed By $300M PE Funding

    Private equity giant Warburg Pincus has agreed to plug up to $300 million into a new accounting and consulting firm led by former leaders of two of the Big Four accounting firms.

  • April 24, 2025

    SocGen Blames Clifford Chance For Failed $483M Gold Claim

    SocGen has told the High Court that Clifford Chance LLP was negligent in its advice to the bank over a gold bullion dispute worth $483 million, saying the poor advice caused the lender's claim to be struck out as an abuse of process.

  • April 24, 2025

    Marine Co. Claims Axis Bank Misled It Into $21M Loan Scheme

    A marine energy company has sued the Dubai branch of India's Axis Bank for $41.7 million, alleging that the lender misled it into participating in a loan to a shipping company secured against ships that were later sold without its knowledge.

  • April 24, 2025

    Digital Pharma Biz Sues Lender Over CEO Loan Collusion

    A digital pharmacy company has accused a small business lender of knowingly working with its former CEO to funnel huge unauthorized loans into the firm, ignoring clear signs that the executive was acting dishonestly and beyond his powers.

  • April 24, 2025

    Shareholders Back Miami's £70M Bid For European Exchange

    The International Stock Exchange said Thursday that its shareholders have backed an approximately £70.4 million ($94 million) takeover offer from the owner of the Bermuda Stock Exchange.

  • April 24, 2025

    Pensions Watchdog Admits Lessons On Superfund Approvals

    The Pensions Regulator admitted on Thursday that it could have done better in its approval process for new superfunds, and has vowed to better support innovation in the market.

  • April 24, 2025

    FCA To Simplify Capital Rules For Investment Firms

    The Financial Conduct Authority set out proposals on Thursday to simplify rules on the types of funds that investment firms must hold to cover their losses, as the watchdog seeks to support U.K. growth after Brexit.

  • April 24, 2025

    Walker Morris Steers £28M Pension Deal For Metals Trader

    A U.K. stainless steel and alloy metal trader's pension plan has agreed a £28 million ($37.3 million) buy-in with Just Group, the financial services firm said Thursday, securing the benefits of almost 100 deferred members and about 80 retirees.

  • April 24, 2025

    Gov't Floats Fix For Spiraling Number Of Small Pension Pots

    The U.K. government unveiled plans on Thursday to tackle the growing number of small forgotten pension pots, in a move that could boost savings for workers and save the retirement industry hundreds of million of pounds.

  • April 23, 2025

    Rainer Hughes Founder Accused Of Laundering Fraud Funds

    Prosecutors accused a founder of Rainer Hughes LLP of laundering the proceeds of a multimillion-pound alcohol tax fraud at the beginning of a criminal trial in London on Wednesday.

  • April 23, 2025

    Brazilian Cos. Appeal EU Rulings Over Madeira Tax Scheme

    Several Brazilian companies are appealing the European Union's court rulings that tax breaks they received in the Madeira Free Trade Zone are considered illegal state aid provided by Portugal​​​​​, according to the Official Journal of the EU.

  • April 23, 2025

    Pension Watchdog Clarifies Rules On Superfund Deals

    The U.K. retirement savings watchdog said Wednesday that it wants to smooth out "friction points" that may be holding back further transactions in the burgeoning pensions superfund market.

  • April 23, 2025

    Argentex Weighs Sale To Rival IFX Amid Liquidity Crisis

    Foreign exchange service provider Argentex Group PLC said Wednesday that it had entered into "advanced discussions" about a potential acquisition by U.K. rival IFX Payments.

  • April 23, 2025

    Trustee Sues Adviser Over Loan To Insolvent Housing Firm

    A trustee is suing an adviser for alleged fraudulent misrepresentation over claims they caused a family trust to loan £5.75 million ($7.65 million) to a company the adviser partially owned, which later fell into insolvency.

  • April 23, 2025

    Childcare Act Expansion Could Boost Pension Pots By £1.2B

    More parents reentering the workforce because of expanded childcare provisions in the U.K. could increase the retirement pots of savers by £1.2 billion ($1.6 billion), a pension provider said Wednesday.

  • April 23, 2025

    Visa Settles With Retailers After Swipe Fees Pass-On Trial

    Lawyers representing more than 1,800 businesses said Wednesday that they have reached a settlement with Visa over allegations the company imposed excessively high credit card fees — weeks after the conclusion of a trial over whether overcharges were passed on.

  • April 22, 2025

    Director Banned After Investors Lost £8.5M In Tree Bonds

    A U.K. businessman has been banned from running a company until 2036 after investors in a Brazilian plantation scheme lost more than £8.5 million ($11.3 million), the Insolvency Service said Tuesday.

  • April 29, 2025

    Sidley Adds Former Latham Capital Markets Pro In London

    Sidley Austin LLP has hired an experienced debt and equity capital markets heavyweight as a partner in its London practice, as the U.S. law firm continues to strengthen its European presence.

  • April 22, 2025

    Generali Launches Secondaries Fund With Partners Group

    Italian asset management group Generali Investments said Tuesday that it has launched a new investment fund in partnership with Swiss-based global private equity firm Partners Group AG.

Expert Analysis

  • What Green Claims Directive Proposal Means For Businesses

    Author Photo

    With the European Union’s recent adoption of a general approach to the proposed Green Claims Directive, which will regulate certain environmental claims and likely be finalized next year, companies keen to publicize their green credentials have even more reason to tread carefully, say Marcus Navin-Jones and Juge Gregg at Crowell & Moring.

  • £43M Legal Bill Case Shows Courts' View On Exchange Rates

    Author Photo

    A recent Court of Appeal decision declined to change the currency used for payment of the Nigerian government's legal bill, aligning with British courts' consensus that they should not be concerned with how fluctuating exchange rates might benefit one party over another, says Francis Kendall at Kain Knight.

  • Examining The EU's New Payments Services Package

    Author Photo

    Following recent European Parliament elections, the spotlight is turning to the highly anticipated payments services package expected in September, marking a pivotal moment in the legislative process that will reshape the payment services ecosystem in the European Union, says Kristýna Tupá and Karolína Hlavinková at Schoenherr.

  • Examining The State Of Paccar Fixes After General Election

    Author Photo

    Following the U.K. Supreme Court's Paccar decision last year, which made many litigation funding agreements for opt-out collective actions in the Competition Appeal Tribunal unenforceable, the judiciary will likely take charge in implementing any fixes — but the general election has created uncertainty, says Ben Knowles at Clyde & Co.

  • EU Reports Signal Greenwashing Focus For Financial Sector

    Author Photo

    Reports from the European Supervisory Authorities on enforcement of sustainability information, plus related guidance issued by the European Securities and Markets Authority, represent a fundamental change in how businesses must operate to maintain integrity and public trust, say Amilcare Sada and Matteo Fanton at A&O Shearman.

  • Opinion

    Without Change, Fighting Fraud Is A Losing Battle For The UK

    Author Photo

    To successfully fight fraud cases in the U.K. — like the Russian Coms scam recently shut down by the National Crime Agency — it is clear there needs to be significant investment in recruiting and training expert investigators, and meaningful engagement between the country’s intelligence platforms, says Anthony Hanratty at Howard Kennedy.

  • Embedding Consumer Duty: 6 Areas Firms Should Prioritize

    Author Photo

    The Financial Conduct Authority has repeatedly emphasized that complying with the Consumer Duty is not a tick-box exercise but an ongoing responsibility, so firms need to show that the duty is at the heart of their practices by staying compliant in areas from cultural change to customer vulnerability, say Nicola Higgs and Becky Critchley at Latham.

  • 2 UK Rulings Highlight Persistent Push Payment Fraud Issues

    Author Photo

    Two recent High Court decisions, Larsson v. Revolut and Terna DOO v. Revolut, demonstrate that authorized push payment fraud continues to cause headaches for consumers and financial institutions alike, and with forthcoming mandatory reimbursement requirements, more APP fraud litigation can be expected, say lawyers at Charles Russell.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

    Author Photo

    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Key Points From UK Prospectus Regime Reform Consultation

    Author Photo

    The Financial Conduct Authority's current consultation on U.K. prospectus regime reform proposals, including when a prospectus will be required and the requirements concerning content, is designed to enhance the attractiveness of the U.K.'s capital markets, say lawyers at Sullivan & Cromwell.

  • Why NCA's 1st Seizure Of Sanctioned Funds Is Significant

    Author Photo

    The National Crime Agency’s recently secured forfeiture of a Russian oligarch's sanctioned funds was a landmark achievement, and is particularly notable because it was made under the Proceeds of Crime Act, illustrating how U.K. authorities can coordinate their respective powers to confiscate assets, says Lindsey Cullen at WilmerHale.

  • Takeaways From New FCA Rules On Research Payments

    Author Photo

    The Financial Conduct Authority’s recently published final rules on payment optionality for investment research, which involve a client disclosure obligation option, will be welcome news for U.K. managers who buy investment research from U.S. brokers, and for global asset management groups, says Anna Maleva-Otto at Schulte Roth.

  • What To Expect From Labour's Pension Schemes Bill

    Author Photo

    The Labour government’s recently announced Pension Schemes Bill, outlining key policy areas affecting the retirement savings sector, represents a positive step forward for both defined contribution scheme members and defined benefit superfunds, but there are some missing features, says Sonya Fraser at Arc Pensions.

  • Int'l Treaties May Aid Investors Amid UK Rail Renationalization

    Author Photo

    The recently introduced Passenger Railway Services Bill seeks to return British railways to public ownership without compensating affected investors, a move that could trigger international investment treaty protections for obligation breaches, says Philipp Kurek at Signature Litigation.

  • What EU Opinion May Mean For ESG Product Classification

    Author Photo

    The recently issued European Supervisory Authority opinion on the Sustainable Finance Disclosures Regulation offers key recommendations, including revising the definition of sustainable investments and making principal adverse impacts consideration mandatory, that could sway the European Commission’s final approach to product classification, say lawyers at Debevoise.

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!