Financial Services UK

  • June 02, 2025

    Gov't Told To Provide Timeline On Private Sector Dashboards

    The U.K. government must publish a roadmap for the introduction of private sector pension "dashboards," a trade body said Monday, warning that officials will fail to hit targets for public engagement without making the service widely accessible.

  • June 02, 2025

    FCA Pushes Mutual Fund Managers For Faster Settlements

    The Financial Conduct Authority has said mutual fund managers should take steps now to speed up fund settlements under the Consumer Duty, in alignment with a planned faster settlement cycle for trades in shares and bonds.

  • June 02, 2025

    Finance Biz TP ICAP Buys Squire Patton-Led Data Co.

    Financial services company TP ICAP Group PLC said Monday that it has bought independent data business Neptune Networks, which is owned by a consortium of global banks.

  • June 02, 2025

    Aircraft Parts Co. Director In Court On Fraud Charges

    A director of an aircraft parts supply company appeared at a London criminal court on Monday accused of falsifying documents used in sales of engine parts to airlines around the globe.

  • June 06, 2025

    Reed Smith Hires Cohen & Gresser London White-Collar Pro

    Reed Smith LLP has recruited a senior expert in financial crime from Cohen & Gresser LLP in London to boost its capabilities representing clients in complex disputes and investigations.

  • May 30, 2025

    UK Audit Regulator Finalizes Project To Unlock Financial Data

    Britain's accounting regulator said on Friday that it has now completed an 18-month project designed to make structured financial data more accessible in the U.K.

  • May 30, 2025

    Isle Of Man Agrees To Work With UK Against Tax Avoidance

    Isle of Man authorities reached an agreement with the U.K. government to work together in a crackdown on promoters of tax avoidance schemes, according to a joint statement.

  • May 30, 2025

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

    This past week in London has seen Entain face yet more investor claims in the fallout from its bribery probe, UEFA face class action from Liverpool fans over chaos at the 2022 World Cup, and a venture capitalist sue journalists for misuse of his private information over a forged police report. Here, Law360 looks at these and other new claims in the U.K.

  • May 30, 2025

    FCA Names Ex-Pensions Minister Head Of Consumer Panel

    The Financial Conduct Authority said Friday that it has appointed Chris Pond, a former work and pensions minister, as chair of an independent panel that advises the regulator on consumer issues.

  • May 30, 2025

    FCA Wins OK For £1M Fine On Pensions Transfer Pros

    The finance watchdog said Friday that a tribunal has approved its decision to ban two financial advisers from working in financial services and impose approximately £1 million ($1.3 million) in fines over their pension transfers that put clients' retirement money at risk.

  • May 30, 2025

    Pension Credit Applications Rise 28% Since Winter Fuel Cut

    The number of applications for pension credit in the U.K. increased 28% in the past year since the government said that it will ax winter fuel payments for millions of retirees, Department for Work and Pensions data shows.

  • May 30, 2025

    Pension Adviser Declared In Default Over Unpaid Claims

    The Financial Services Compensation Scheme confirmed on Friday that a pensions advisory company has been declared in default after it was unable to pay out on claims brought by clients.

  • May 29, 2025

    Bahamas Businessmen Can't Nix $2.7M Yacht Sale Ruling

    Two Bahamas businessmen can't dodge a $2.7 million debt to a subsidiary of Caterpillar Inc., after the Judicial Committee of the Privy Council declined on Thursday to find that a yacht intended to repay a loan had been sold at an undervalue.

  • May 29, 2025

    UK Eyes Alignment With Int'l Sustainability Standard

    Britain's accounting regulator proposed on Thursday introducing a U.K. version of the international standard used for sustainability assurance in a bid to ensure consistency in the sector.

  • May 29, 2025

    Accountants Deny Negligence In Kebab Biz Share Deal Fraud

    An accounting firm has denied negligently accepting a fraudulently signed share transfer form that a business director claims cost him his stake in a meat supplier of almost £2.5 million ($3.4 million), arguing that there was "nothing obviously suspicious" about the document.

  • May 29, 2025

    HSBC Denies Blame For £12M Transfers Tied To Alleged Fraud

    HSBC has accused a corporate client of attempting to hold the bank liable for an alleged fraud committed by the company, denying that it failed to question and block more than £12 million ($16.1 million) in allegedly fraudulent account transfers.

  • May 29, 2025

    US Tariffs Spark Profit Warnings For UK Pension Sponsors

    British businesses might seek to tap into pension surpluses because of ongoing financial losses caused by U.S. tariffs, a professional services firm has warned.

  • May 29, 2025

    Argentex Left With Single Bidder As 2 Investors Exit

    Argentex said Thursday that two potential investors have withdrawn their interest in buying the U.K.-based foreign exchange provider, leaving its rival IFX Payments as the only entity in line to acquire the company.

  • May 29, 2025

    Bigger Isn't Better In £25B Pensions Megafund Reform

    The U.K. government unveiled on Thursday a sweeping reform program to drive the creation of new pension megafunds with the firepower to invest more in the U.K. economy — but experts warn this could stifle competition and "put a gun" to providers' heads.

  • May 29, 2025

    Toymaker Says Ex-CFO Must Sell Property To Pay £300K Debt

    A toymaker has asked a London court to compel its former finance director to sell his apartment to cover a rising debt of more than £300,000 ($404,000) that it says he owes.

  • May 29, 2025

    FCA To Update Regulatory Directions For UK Finance Firms

    The Financial Conduct Authority said Thursday that it will amend and update approximately 11,000 legal requirements, obligations and restrictions for more than 9,000 financial firms in the U.K.

  • May 29, 2025

    Mastercard Settlement Shows Court's Active Role In Payouts

    The final decision by the Competition Appeal Tribunal on who gets what from a £200 million ($270 million) Mastercard settlement shows the willingness of the courts to rewrite distribution plans to ensure that the overall objectives of the collective action regime are met, lawyers say.

  • May 28, 2025

    Online Scams Surge With £1B Stolen Through Fraud In 2024

    Criminals stole £1.17 billion ($1.6 billion) through fraud in 2024, largely through a 22 percent rise in customers being duped into disclosing online login passcodes, banking body UK Finance revealed Wednesday.

  • May 28, 2025

    UK Firms Plan To Tap Pension Surpluses Amid Rule Changes

    Most U.K. businesses with defined benefit pension plans larger than £500 million ($673 million) have said they would access their retirement plan surplus once the government allows them to tap into the money, new research shows.

  • June 04, 2025

    Ex-Credit Karma GC Tapped As Legal Chief At UK Fintech Co.

    Financial technology company Liberis Ltd. said Wednesday that it has hired Jane Moon as its new legal chief to help the business navigate regulatory challenges amid an expansion into new international markets.

Expert Analysis

  • How GCs Can Protect Cos. From Geopolitical Headwinds

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    Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.

  • Navigating PRA's Data Request For Crypto-Asset Exposure

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    The Prudential Regulation Authority’s recent data request for details on financial institutions' crypto-asset exposures should be used as an opportunity for firms to update their compliance procedures, and consider the future use of crypto-assets and related services, says James Wickes at RPC.

  • Key Points From FCA Financial Crime Guide Updates

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    The Financial Conduct Authority’s recent updates to its financial crime guide reflect the regulator’s learnings on sanctions following Russia's invasion of Ukraine, highlighting and clarifying consumer duty, anti-money laundering and other compliance expectations, say lawyers at Womble Bond.

  • Tax Directive Marks Milestone In Harmonizing EU System

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    The Council of the European Union’s recently adopted tax directive is a significant step toward streamlining and modernizing procedures for member states, and will greatly reduce administrative burden and compliance costs for cross-border investors, says Martin Phelan at Simmons & Simmons.

  • Why Nonfinancial Misconduct Should Be On Firms' Radar

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    Following a recent Financial Conduct Authority survey showing an increase in nonfinancial misconduct, the regulator has made clear that it expects firms to have systems in place to identify and mitigate risks, says Charlotte Pope-Williams at 3 Hare Court.

  • What New UK Code Of Conduct Will Mean For Directors

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    The Institute of Directors’ new voluntary code of conduct is intended to help directors make better decisions and enable U.K. businesses to win back eroded public trust, although, with no formal means of enforcement, its effectiveness could be limited, says Sarah Turner at Eversheds Sutherland.

  • Russian Bankruptcy Ruling Shows Importance Of Jurisdiction

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    The U.K. Supreme Court's recent decision not to assist a Russian receiver in Kireeva v. Bedzhamov will be of particular interest in cross-border insolvency proceedings, where attention must be paid to assets outside the jurisdiction, and to creditors, who must consider carefully where to apply for a bankruptcy order, say lawyers at McDermott.

  • Decoding Arbitral Disputes: UK Awards Versus EU Judgments

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    The Court of Appeal of England and Wales' recent refusal to enforce a €855 million Spanish judgment inconsistent with earlier binding arbitral awards in England provides crucial guidance for practitioners navigating the complexities of cross-border disputes involving arbitration agreements and sovereign states, says Josep Galvez at 4-5 Gray's Inn.

  • How Listing Act Measures Will Modernize EU Capital Markets

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    The new European Union Listing Act, in line with the capital markets union initiative, aims to simplify market access for small and midsize enterprises, laying a foundation for a more integrated framework and representing a modernization milestone, say lawyers at Cleary.

  • Insider Info Compliance Highlights From New FCA Guidance

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    The Financial Conduct Authority's recent guidance to companies on identifying inside information clarifies the regulator's expectation of case-by-case assessment, helpfully highlighting that abuse of U.K.-regulated markets can arise earlier than some might think, say lawyers at Sullivan & Cromwell.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • 2 Cases May Enlighten UK Funds' Securities Litigation Path

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    Following recent nine-figure settlements in securities class actions against Apple and Under Armour, U.K. pension funds may increasingly lead U.S. shareholder derivative suits, advocating for transparency, better risk management and stronger governance practices, say lawyers at Labaton Keller.

  • Interpreting Newly Released Consumer Fraud Complaints Data

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    The Financial Ombudsman Service’s latest complaint data focuses on scams and customer service, and demonstrates that as fraud is becoming rapidly more complex, financial regulators need to acknowledge that technology is here to stay and work together with firms to protect consumers, say lawyers at RPC.

  • Applying New FCA Guidance On Control Of Financial Firms

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    Buyers seeking to acquire or increase their stakes in U.K. financial services firms can streamline prudential review of their transactions by understanding the Financial Conduct Authority’s recently published guidance on updated change-in-control regulations, says Mark Chalmers at Davis Polk.

  • Anticipating The UK's Top M&A Trends In 2025

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    Conversations with market participants are focusing on five key questions about 2025's transactional markets, ranging from issues of artificial intelligence, to the boom in takeovers and increased regulatory scrutiny, says Layla D’Monte at King & Spalding.

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