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Insurance UK

  • October 10, 2018

    EU Watchdogs Vow To Prioritize Consumer Protection In 2019

    Europe’s three major European financial watchdogs have said that they will focus on protecting financial services and insurance consumers across the bloc against poor practices in retail investment, anti-money laundering and financial technology over 2019.

  • October 10, 2018

    UK Says Post-Brexit Financial Services Exodus Not Likely

    The U.K. Treasury minister for financial services said Wednesday that the City of London will remain a key financial center after Brexit and dismissed stories that there would be a mass exodus of staff and operations to other European Union jurisdictions once Britain exits.

  • October 10, 2018

    UK Prepares To Write Solvency II Into Domestic Law

    The U.K. Treasury has unveiled draft regulations to preserve the Europe Union’s Solvency II capital regime for insurers after Brexit, quashing industry hopes that Britain will quickly soften the rulebook’s toughest demands.

  • October 9, 2018

    Insurers Urge Chancellor Not To Hike UK Premium Tax

    Britain's top insurance lobby launched a campaign on Wednesday urging the Treasury not to raise insurance premium tax in this month's Budget, warning that the levy already costs every household in the country an average of £200 ($260) a year.

  • October 9, 2018

    City Can't Fight Money Laundering Alone, MPs Told

    The financial services industry needs more support from other regulated sectors, including audit firms and the legal profession, to fight economic crime, a parliamentary committee was told Tuesday.  

  • October 9, 2018

    Lloyd's Promises To Pay 'All Valid Claims' After Brexit

    Lloyd’s of London pledged on Tuesday to pay "all valid claims" after March 2019 even if Britain crashes out of the European Union without a deal and the cross-border insurance industry faces a legal vacuum.

  • October 9, 2018

    UK Pensions Levy Delivers A Fraction Of Revenue Sought

    A hefty new levy on overseas pensions transfers raised just £1.4 million ($1.8 million) for the U.K. government in its first tax year, a fraction of the £65 million predicted, according to new data on Tuesday.

  • October 9, 2018

    Failed Insurance Fraud Pair Fined For Data Theft, Bribery

    Two men have been fined for bribery and data protection offenses after they unsuccessfully attempted to sell private medical insurance policies to consumers whose data they had stolen, the City of London Police said on Tuesday.

  • October 9, 2018

    UK Antitrust Watchdog To Probe Auditing Industry

    The U.K.'s antitrust authority launched another investigation into the country's auditing sector on Tuesday, putting more pressure on the Big Four accounting firms amid concerns that audits for some major British companies have fallen short.

  • October 9, 2018

    EU Insurance Watchdog Seeks Right To Order National Probes

    Europe’s top insurance regulator is seeking greater powers over national watchdogs, including the right to recommend changes to domestic capital requirements and to order swift investigations in individual member states.

  • October 9, 2018

    BOE Warns Of 'Pressing' Need For EU Action On Brexit Risk

    The Bank of England called on the European Union on Tuesday to do more to protect cross-border financial services from the risks of a so-called hard Brexit, warning that negotiators have made only “limited progress.”

  • October 8, 2018

    EU Regulator Asks Lawmakers For More AML Powers

    Europe’s top banking regulator called on Monday for an urgent increase in funding and clarification of its own powers to help fight money laundering and terrorist financing, amid mounting demand for tougher controls.

  • October 8, 2018

    FRC Launches Shake-Up As Accountancy Reels From Scandals

    The U.K.’s Financial Reporting Council launched a program on Monday designed to improve auditing standards in the wake of a series of high-profile accountancy scandals, and revealed it will consider whether to ban auditors from doing lucrative consulting work for the bodies whose books they inspect.

  • October 8, 2018

    MP Calls For Economic Crime Fighters To Get More Cash

    A U.K. lawmaker called on the government on Monday to funnel more funds into agencies fighting economic crime so they can investigate financial fraud and other misconduct "to the fullest extent of the law."

  • October 8, 2018

    FCA Floats New Rules To Protect Investors In Illiquid Assets

    The Financial Conduct Authority set out new rules on Monday that it said would help funds that hold illiquid assets, such as property and unlisted securities, to manage their risks and reduce possible harm to investors.

  • October 8, 2018

    FCA Failing To Enforce MiFID II, Investment Firm Claims

    The Financial Conduct Authority is failing to enforce transparency rules under Europe’s securities trading regulation in “flagrant breach” of its statutory objective, a high-profile wealth management company claimed on Monday.

  • October 8, 2018

    UK Wants New EU Securities Regime To Continue After Brexit

    The government has set out measures that it said will help U.K. financial markets remain “fair, stable and transparent,” which include giving extended powers to British regulators, as it seeks to ensure the continuity of EU rules on transparency rules in the event of a “no-deal” Brexit.

  • October 8, 2018

    Pension Withdrawals Offer Questionable Value, Report Warns

    Workers who take advantage of the U.K.'s controversial pension freedoms to dip into their savings 10 years before they retire will receive, on average, just 55 percent of the true value of their investment, data released on Monday suggests.

  • October 5, 2018

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

    The last week has seen a London hotel group lodge competition claims against Visa and Mastercard, Hellenic Petroleum and 10 insurers take on a shipper, and VTB Bank sue a Russian billionaire's holding company connected to EN+. Here, Law360 looks at those and other new claims in the U.K.

  • October 5, 2018

    City Lobby Calls For Protection Of Contracts After Brexit

    The U.K.’s top financial lobby has called for a transitional agreement to protect 36 million cross-border insurance policyholders and £26 trillion ($34 trillion) of derivatives contracts, as fears grow of a “no deal” Brexit scenario.

Expert Analysis

  • New UK And US Regimes May Deter Foreign Investment

    Robert Bell

    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

    Sarah King

    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

    Douglas Lahnborg

    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

    Simon Airey

    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

    Joseph Ferraro

    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

    Ronnie Barnes

    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

    Simon Bushell

    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

    Ross Denton

    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.