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Financial Services UK
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October 17, 2025
Trader Rejects £10M Claim Over High Risk Investments
A trading platform has denied owing a Cayman Islands investment fund at least £10 million ($14 million) over an allegedly loss-making decision to sell off its investments in shipping industry contracts, claiming it made the "valid and prudent" decision to sell when it did.
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October 17, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Johnson & Johnson hit with a £1 billion ($1.34 billion) claim for allegedly selling contaminated baby powder, Carter-Ruck bring a claim against the Solicitors Regulation Authority, and Hewlett Packard file a probate claim against the estate of Mike Lynch.
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October 17, 2025
Man Gets Prison For Hiding Assets In $80M Dubai Bank Case
A businessman who fraudulently helped three members of his Emirati family evade an £80 million ($107 million) judgment debt to a Dubai bank was sentenced on Friday to two years imprisonment for contempt of court.
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October 20, 2025
CORRECTED: Football Club Owner Liable To Iconic Investors For $97M Stake
A London court ruled on Friday that the owner of a portfolio of professional football clubs was in breach of a deal to buy back an investment vehicle's stake in his company for $97 million.
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October 17, 2025
Global Watchdog Calls On Countries To Monitor Crypto Better
An international securities watchdog called on countries Friday to monitor risks in crypto-assets and share regulatory information better across borders.
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October 17, 2025
BBVA To Launch €1B Buyback After Bid For Rival Fails
Spanish lender Banco Bilbao Vizcaya Argentaria will commence a share buyback scheme after learning that its protracted €19.5 billion ($22.8 billion) public takeover offer for domestic rival Banco Sabadell had failed.
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October 17, 2025
FCA's Tokenization Plan May Heighten Financial Crime Risk
The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.
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October 17, 2025
Chancellor Launches Service To Support Overseas Investors
HM Treasury said Friday that it has launched a free "concierge" service in partnership with finance regulators to remove barriers for global firms investing in U.K. financial services.
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October 17, 2025
Oakley Capital Buys Majority Stake In Padel Racket Maker
European private equity business Oakley Capital has announced its acquisition of a majority stake in Spanish padel racket-maker Nox through one of its funds.
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October 16, 2025
Banks Must Do More To Stop Romance Fraud, FCA Warns
The Financial Conduct Authority warned Friday that banks must do more to stop romance scams, which cost victims £106 million ($142 million) in 2024.
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October 16, 2025
Insurers Pay Into $340M UN-Backed Fund For Developing States
Insurers have contributed to a $340 million fund for infrastructure projects in developing countries, an industry body said Thursday, as part of a United Nations-backed program to close the global protection gap.
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October 16, 2025
Marsh Unit Warns Against Mandating Pension Investments
Pension funds must be primarily focused on getting the best income in retirement for their members rather than propping up the national economy, a unit of insurance giant Marsh McLennan warned.
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October 16, 2025
UK Pension Funds Double Investment In Private Economy
Pension schemes have doubled their investment in private companies to £1.6 billion ($2.15 billion) in one year as part of their commitment to allocate a greater portion of their funds to investing in privately held companies, the Association of British Insurers said Thursday.
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October 16, 2025
Finnish Bank Nordea Rewards Investors With €250M Buyback
Finnish financial services company Nordea Bank Abp said Thursday that it will launch a share buyback program worth up to €250 million ($292 million) to reward investors and improve its market value.
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October 16, 2025
IG Group Sells US Futures Platform For $100M
IG Group Holdings PLC said Thursday it has sold its U.S.-based futures marketplace Small Exchange Inc. to Payward Inc., the parent of cryptocurrency exchange Kraken, for $100 million.
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October 16, 2025
UK Open To Behavioral Remedies During Merger Reviews
The antitrust authority said Thursday that it is weighing a more flexible approach to remedies during merger reviews that would require it to regulate the behavior of the companies involved as it backs the government's growth agenda.
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October 15, 2025
Trading Platform Defends 'BrokerTec' EU TM Hopes
A Spanish electronics wholesaler has lost its attempt to shut down a trading platform's "BrokerTec" European Union trademark application, failing to show that consumers could mix up the sign with its earlier "Brokertech" registration.
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October 15, 2025
King & Spalding Opens In Sydney With Int'l Employment Pro
King & Spalding LLP announced Wednesday that it is opening an office in Australia under the leadership of its global human capital and compliance practice head, supported by a team of attorneys who advise on corporate transactions, energy and infrastructure projects, complex global workforce matters and high-stakes disputes.
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October 15, 2025
Regulators To Ease Bonus Restrictions On Senior Bankers
The U.K. financial services watchdogs have said they will enable companies to pay senior bankers more flexibly from Thursday in a move to support domestic growth and competitiveness.
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October 15, 2025
Rathi Defends Motor Finance Redress During Grilling By Peers
The Financial Conduct Authority faced accusations by a House of Lords committee on Wednesday that its proposed motor finance redress scheme gave consumers a "false understanding" of the redress they can get.
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October 15, 2025
London Insurers Push For Growth-Friendly Regulation
Lawmakers and policy officials must regularly review how Britain's regulators are fulfilling their competitiveness objective to make good on their growth mandates, a trade body for the insurance sector said.
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October 15, 2025
Lloyds OK To Reject Staffer's Request For 3-Day Workweek
A tribunal has ruled that Lloyds Bank did not act unreasonably when it refused an employee's request to compress her hours into longer shifts across fewer days.
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October 15, 2025
SoftBank Beats Credit Suisse's $440M Greensill Claim
A London judge ruled Wednesday that SoftBank is not liable to Credit Suisse for $440 million in losses linked to the collapse of Greensill Capital over a restructuring deal, finding that the Japanese bank "did not orchestrate" the transaction.
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October 15, 2025
Capita Fined £14M For Cyber-Failures In Pensions Breach
The data watchdog said on Wednesday that it has fined outsourcing company Capita £14 million ($18.7 million) for failures in holding personal data security during a cyberattack in 2023 in which the information of 6.6 million people was stolen.
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October 14, 2025
Six Pension Plans Settle In $2.1B Danish Tax Fraud Case
Six pension plans have settled claims by Denmark's tax agency accusing them of participating in a $2.1 billion scheme that fraudulently claimed refunds on tax withheld from stock dividends, with a New York federal court dismissing the allegations Tuesday.
Expert Analysis
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A Look At UK, EU And US Cartel Enforcement Trends
The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.
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Testing The Limits Of English Courts' Pro-Arbitration Stance
Although the Court of Appeal recently upheld a $64 million arbitration award in Eternity Sky v. Zhang, the judgment offers rare insight into when the English courts’ general inclination to enforce arbitral awards may be outweighed by competing policy interests such as consumer rights, say Declan Gallivan and Peter Morton at K&L Gates.
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What Green Claims Directive Proposal Means For Businesses
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.
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£43M Legal Bill Case Shows Courts' View On Exchange Rates
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.
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Examining The EU's New Payments Services Package
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.
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Examining The State Of Paccar Fixes After General Election
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.
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EU Reports Signal Greenwashing Focus For Financial Sector
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.
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Opinion
Without Change, Fighting Fraud Is A Losing Battle For The UK
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.
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Embedding Consumer Duty: 6 Areas Firms Should Prioritize
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.
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2 UK Rulings Highlight Persistent Push Payment Fraud Issues
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.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
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.
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Key Points From UK Prospectus Regime Reform Consultation
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.
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Why NCA's 1st Seizure Of Sanctioned Funds Is Significant
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.
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Takeaways From New FCA Rules On Research Payments
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.
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What To Expect From Labour's Pension Schemes Bill
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.