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Insurance UK
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May 06, 2025
Gallagher Boosts Turkish Operations With Aspera Buy
U.S. insurance giant Arthur J. Gallagher & Co. said Tuesday that it has acquired boutique Turkish broker Aspera to support its growth plans in the region, which it described as a "strategic insurance hub" between Asia and Europe.
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May 02, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Premier League football club Newcastle United FC sue the owner of the land next to its stadium, Laurence Fox face a defamation claim by TV presented Narinder Kaur and a further sexual assault claim filed against actor Kevin Spacey.
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May 02, 2025
FCA Proposes Curb On Purchase Of Crypto-Assets On Credit
The Financial Conduct Authority proposed on Friday to restrict how far cryptocurrency companies could go in allowing consumers to buy crypto-assets on credit, part of its planned regulatory regime for the sector.
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May 02, 2025
US Tariffs Spark Concerns for Unhedged Pension Assets
European pension funds that have significant unhedged dollar assets could be in trouble, experts warned Friday, as unprecedented market volatility was sparked imposition of U.S. trade tariffs.
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May 02, 2025
Draft UK Crypto-Regulations Facing Teething Troubles
The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.
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May 02, 2025
Pension Deal Insurance Capacity Outstrips Demand
Eight out of 10 pension deals last year involved a scheme with less than £100 million ($133 million) in assets, due to a major increase in insurer capacity, a consultancy said Friday.
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May 01, 2025
Regulatory Costs Claim 3.3% Of Insurance Brokers' Revenue
Insurance brokers in the U.K. pay an average 3.3% of their annual revenue to cover regulatory costs, compared with only 1.9% paid by insurers, according to research published Thursday by consultant London Economics.
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May 01, 2025
UK Pension Funds Face Scrutiny Over Investment Plans
A parliamentary committee will quiz pensions chiefs as part of a wider probe into whether the £3 trillion ($4 trillion) retirement savings sector can invest more in U.K. assets to better support the country's economic growth.
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May 01, 2025
Cross-Border Payments Firms Lack Transparency, FCA Says
Companies offering international money remittance and cross-border payment services often fail to explain their fees clearly and should consider making improvements under the Consumer Duty, the Financial Conduct Authority said Thursday.
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May 01, 2025
Insurers Underestimating Climate Change, BoE Warns
U.K. insurers must do a better job of reflecting the risk of climate change on their balance sheets, the Bank of England has warned.
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May 01, 2025
UK Gov't Mulling Major Reform To Pensions Protection Fund
The government has confirmed that there are still plans to transform the Pension Protection Fund into a public sector consolidator of retirement savings schemes.
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April 30, 2025
9M Britons Retire With Meager Private Pensions, Report Says
Almost 9 million people in the U.K. enter retirement "significantly under-pensioned," with annual private pension incomes of between £3,650 ($4,870) to £6,750, according to a report by the Pensions Policy Institute.
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April 30, 2025
FCA Says Meta Slacking In The Removal Of Suspect Ads
The Financial Conduct Authority named Facebook owner Meta on Wednesday as the biggest laggard among the big tech companies in terms of responding to requests to take down material from "finfluencers" about whom the watchdog had issued warnings.
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April 30, 2025
UK Finance Sector Calls For Cuts To Audit Regulation
A group of finance and corporate trade bodies urged the government on Wednesday to reduce and simplify regulation of auditors to support U.K. growth.
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April 30, 2025
BoE Weighs Further Action On Funded Reinsurance
The Bank of England said Wednesday that it might consider further action on the offshore reinsurance arrangements used by pension insurers as it seeks to minimize risk to the wider U.K. economy.
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April 30, 2025
Gov't To Push Through Collective Pension Rules In Autumn
The U.K. government said it plans to introduce new regulation in the latter half of the year to allow the introduction of new forms of collective pension plans.
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April 30, 2025
Clyde & Co. Adds Cross-Border Insurance Pro From Brazil
Clyde & Co. LLP has hired a corporate insurance expert as a partner in London, as the firm looks to strengthen its access to the "fast-evolving" and complex Latin American market.
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April 29, 2025
Solicitor Banned For Misleading Clients Over Failed PI Claims
A disciplinary panel has struck off a solicitor after he confessed that he told clients that their personal injury claims had succeeded when they had in fact failed.
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April 29, 2025
FCA Proposes Live AI Testing Service For Firms
The City watchdog proposed on Tuesday a testing service for companies as they check the readiness of their new artificial intelligence tools, a program it believes can help it to better understand the impact of the technology on markets.
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April 29, 2025
Burness Paull Guides £7.5M Pension Deal For Fuel Biz
Aviva PLC has bought out £7.5 million ($10 million) of the pension arrangement liabilities of Gleaner Ltd., advisers said Tuesday, in a deal steered by law firm Burness Paull LLP.
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April 29, 2025
Pensions Watchdog Issues Covenant Warning Amid Tariffs
The U.K.'s retirement savings watchdog warned pension schemes on Tuesday to be mindful of the impact of global trade tariffs as it said it had found that more than half have a funding surplus.
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April 29, 2025
UK Treasury Appoints 4 New FCA Board Members
HM Treasury said Tuesday it has appointed four new members to the board of the Financial Conduct Authority.
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April 29, 2025
FCA Set To Get Enforcement Boost From New Fraud Offense
The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.
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April 28, 2025
Hogan Lovells Leads Royal London's College Pension Buy-In
The College of Law's retirement scheme has agreed to an £85 million ($114 million) buy-in with Royal London, the U.K.'s largest mutual life, pensions and investment company announced Monday.
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April 28, 2025
Watchdog Warns Of Significant Errors In Digital Reporting
The accounting watchdog warned Monday that some companies listed on the London Stock Exchange are making significant errors in their digital annual reports through incorrect tagging.
Expert Analysis
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
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Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
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Breaking Down The New UK Pension Funding Regs
Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.
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Decoding UK Case Law On Anti-Suit Injunctions
The English High Court's forthcoming decision on an anti-suit injunction filed in Augusta Energy v. Top Oil last month will provide useful guidance on application grounds for practitioners, but, pending that ruling, other recent decisions offer key considerations when making or resisting claims when there is an exclusive jurisdiction clause in the contract, says Abigail Healey at Quillon Law.
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Cayman Islands Off AML Risk Lists, Signaling Robust Controls
As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.
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How Decision On A Key Definition Affects SMEs
The Financial Conduct Authority's decision not to extend the definition of small and midsized enterprises may benefit banks and finance providers in the current high interest rate environment and where SMEs in certain sectors may be under financial pressure in light of the cost-of-living crisis in order to streamline it, says Rachael Healey at RPC.
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Employers Can 'Waive' Goodbye To Unknown Future Claims
The Scottish Court of Session's recent decision in Bathgate v. Technip Singapore, holding that unknown future claims in a qualifying settlement agreement can be waived, offers employers the possibility of achieving a clean break when terminating employees and provides practitioners with much-needed guidance on how future cases might be dealt with in court, says Natasha Nichols at Farrer & Co.
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Acquisition Of AI Tech Poses Challenges For Media Industry
The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.
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3 Financial Services Hot Topics To Watch In 2024
Technology, ESG and private markets are set to have the greatest impact on financial markets in 2024, as firms grapple with increasing regulatory change and a shifting political backdrop on both sides of the Atlantic, says Matthew Allen at Eversheds Sutherland.
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Misleading Airline Ads Offer Lessons To Avoid Greenwashing
Following the Advertising Standards Authority's recent decision that three airlines' adverts misled customers about their environmental impact, companies should ensure that their green claims comply with legal standards to avoid risking reputational damage, which could have financial repercussions, say Elaina Bailes and Olivia Shaw at Stewarts.
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CMA Guidance Can Help Businesses Act On Climate Change
Guidance recently published by the Competition and Markets Authority, which explains how competition law applies to sustainability and climate change agreements, provides clarity for businesses seeking to collaborate and emphasizes the regulator’s open-door policy, says Andrew Maxwell at Freeths.
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An Overview Of UK Short Selling Regulation Reforms
The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.