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Financial Services UK
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July 23, 2025
Top UK Court Overturns Traders' Rate-Rigging Convictions
Britain's highest court quashed on Wednesday the convictions of two former traders imprisoned for interest rate rigging in a landmark decision that could open the door for upending historic prosecutions.
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July 22, 2025
Ex-Soldier Ran £1.3M Investment Ponzi Fraud, Jurors Told
A former British Army rifleman ran a Ponzi investment fraud which raised £1.3 million ($1.7 million) from 238 investors before collapsing, the U.K.'s financial regulator said at the beginning of a London criminal trial Tuesday.
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July 22, 2025
VTB Sues Investment Biz In Sanctions Dispute Over Trades
VTB Capital PLC has sued an investment firm for $3.4 million over unsettled trades of Russian securities, arguing that the other company did not have the right to terminate the trades due to sanctions imposed after the invasion of Ukraine.
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July 22, 2025
JMW Guides £4M Pension Deal For Church Scheme
Pension insurer Just Group has taken on £4 million ($5.4 million) worth of retirement savings liabilities from a scheme linked to a Christian church, in a deal put together by pensions consultancy K3 Advisory and guided by law firm JMW Solicitors.
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July 22, 2025
Russian Magnate's Bankruptcy Trustee Can't Stop Share Move
The bankruptcy trustee of the founder of a Russian bank on Monday lost his bid to halt the release of shares to companies alleged to be owned by the businessman, with a London court ruling that they should not be withheld.
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July 22, 2025
BoE Chief Vows To Speak Up If Deregulation Goes Too Far
Andrew Bailey told a cross-party group of lawmakers Tuesday that he would speak out if the Treasury tries too hard to deregulate the financial services industry, adding that bank ring-fencing must remain in place.
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July 22, 2025
Apax Partners To Pay €916M For Apax Global Alpha
British private equity firm Apax Partners LLP has agreed to acquire a company it collaborates with, Apax Global Alpha Ltd., for €916.5 million ($1.07 billion), as it eyes the investment company's roster of assets.
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July 22, 2025
Gov't Sets Out Plan To Include Pensions In Inheritance Tax
The government has confirmed that it is pushing ahead with plans to apply inheritance tax to wealth transferred through pensions in a move that experts say marks a "seismic" change for the sector.
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July 22, 2025
NCA Calls For Crypto-Data Sharing In £100B AML Battle
The National Crime Agency has called for financial services companies to share data with law enforcers to improve identification of illicit cryptocurrency activity as it seeks to combat the estimated £100 billion ($135 billion) laundered in the country every year.
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July 21, 2025
FCA Trims Mortgage Rules To Boost Homeownership Access
The Financial Conduct Authority published rule changes for lenders on Monday that make it easier to discuss mortgages with clients and to reduce the repayment period or remortgage.
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July 21, 2025
Family Claims Bad Tax Advice Led To Costly HMRC Bills
The trustees of family trusts accused a U.K. accounting firm of giving them negligent advice that led to unexpected inheritance taxes and penalties owed to HM Revenue & Customs, according to a claim filed in a London court.
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July 21, 2025
New AI Audit Standard Aims To Tame 'Wild West' Market
The British Standards Institution on Monday unveiled what it called the world's first standard for companies independently auditing artificial intelligence systems amid concern over a potential "wild west" of unchecked providers.
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July 21, 2025
Ex-Execs Sue Telecom Biz Over Alleged £8M Share Sale Loss
Two former directors of a telecom technology company are suing their successors for over £8 million ($10.7 million), alleging they were tricked into selling their shares at a fraction of their true value.
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July 21, 2025
Trader Blames Deutsche Bank For Spoofing Conviction
A former Deutsche Bank trader convicted of tricking market competitors through a "spoofing" scheme has sued the bank in a London court, alleging it trained him to use an illegal trading strategy and then "scapegoated" him when he faced prosecution.
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July 21, 2025
Kession Fights Liability In £1.7M Collective Investment Case
A finance company urged the U.K.'s top court Monday to partly override a judgment that found it liable for botched property investments worth approximately £1.7 million ($2.3 million), arguing that its liability to investors should have been limited.Â
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July 28, 2025
Disputes Pro Joins Lewis Silkin From Rosenblatt
A Rosenblatt Law Ltd. commercial litigation expert with extensive experience in the banking sector has jumped to Lewis Silkin LLP as a partner in its London dispute resolution practice.
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July 21, 2025
Gov't Misses Chance To Go Big With New Pensions Body
The government launched a once-in-a-generation review of retirement savings on Monday, but experts warned that the new Pension Commission is a missed opportunity to take a no-holds-barred approach to tackle the savings crisis. Â
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July 21, 2025
Petershill Partners Sells Stake In US PE Firm For $561M
Investment firm Petershill Partners PLC has sold its entire stake in private equity firm Harvest Partners for $561 million after seven years of collaboration, continuing its pattern of exiting investments in investment firms.
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July 21, 2025
Investors Poised To Buy Risky Funds Amid Gov't ISA Reforms
Most investors are ready to invest in hard-to-sell assets including private equity through long-term asset funds after the government said they will be included in tax-free individual savings accounts from 2026, a trade body said Monday.
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July 21, 2025
Audit Watchdog Publishes Revised Pension Standard Rules
Britain's accounting watchdog has published a finalized set of actuarial rules for the retirement savings sector in light of recently introduced changes to pension funding and plans to use surplus money tied up in savings schemes.
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July 21, 2025
IFX Weighs Ending £3M Argentex Bid After Administration
Foreign exchange provider IFX Payments said Monday that it might end its interest in the acquisition of Argentex Group PLC after the troubled currency risk manager disclosed that it intends to appoint administrators.
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July 21, 2025
Gov't Revives Pensions Commission To Tackle Savings Crisis
The government said on Monday that it will restore the Tony Blair-era Pensions Commission to probe why future retirees are likely to be poorer than today's pensioners, amid growing fears that millions of Britons will not have saved enough money for later life.
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July 18, 2025
EU Agrees To Hit Russian Banking Harder With New Sanctions
The European Union agreed Friday to new sanctions against Russia hitting the banking sector harder as part of a broader package.
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July 18, 2025
Fintech Blocks JPMorgan's €917M Greek Case In JV Dispute
A London judge granted a fintech company an injunction on Friday that prevents J.P. Morgan from pursuing its directors in Greece, finding that the litigation in Athens breached a shareholder agreement.
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July 18, 2025
Irwin Mitchell Can't Escape Costs In Pension Fraud Claim
Irwin Mitchell LLP failed on Friday to recover costs after it persuaded a London court that it had been wrongly named in a retired naval officer's negligence claim because its broader effort to throw out the case fell short.
Expert Analysis
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What New UK Listing Rules Mean For Distressed Companies
The Financial Conduct Authority’s recently published overhaul of U.K. listing rules makes it easier for advisers to restructure distressed listed companies, and in moving to a more disclosure-based approach, simplifies timelines and increases opportunities for investors, say Kate Stephenson and Sarah Ullathorne at Kirkland & Ellis.
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AI Reforms Prompt Fintech Compliance Considerations
With the EU Artificial Intelligence Act's Aug. 1 enforcement, and the U.K.'s new plans to introduce AI reforms, fintech companies should consider how to best focus limited resources as they balance innovation and compliance, says Nicola Kerr-Shaw at Skadden.
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Irish Businesses Should Act Now To Prepare For EU AI Act
Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.
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EU Investment Fund Standards Offer Welcome Clarity
The European Commission’s recently published regulatory technical standards for long-term investments, which granted managers greater flexibility with respect to open-ended European long-term investment funds, should help managers active in the space navigate the mandatory liquidity requirements for long-term investment funds, say Zac Mellor-Clark and Nishkaam Paul at Fried Frank.
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Unpacking The New Concept Of 'Trading Misfeasance'
In addition to granting one of the largest trading awards since the Insolvency Act was passed in 1986, the High Court recently introduced a novel claim for misfeasant trading in Wright v. Chappell, opening the door to liability for directors, even where insolvent liquidation or administration was not inevitable, say lawyers at Greenberg Traurig.
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Key Takeaways From Proposed EU Anticorruption Directive
The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.
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How Regulation Of Tech Providers Is Breaking New Ground
The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.
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What EU Net-Zero Act Will Mean For Tech Manufacturers
Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.
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Complying With EU Commission's Joint Purchasing Rules
One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Tips For Implementing EU Sustainability Reporting Guidance
Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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Why Ukraine Aircraft Insurance Case Failed To Take Off In UK
In Aercap v. PJSC Insurance, the High Court decided the claimants could not avoid an exclusive jurisdiction clause and advance their case in England rather than Ukraine, and the reasoning is likely to be of relevance in future jurisdiction disputes, say Abigail Healey and Genevieve Douglas at Quillon Law.
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Labour's 'Fresh Approach' To Tackling Financial Crime
Given newly elected Prime Minister Sir Keir Starmer’s background as a criminal defense lawyer and director of public prosecutions, an administration with strong views on financial crime can be expected, and revenue raising and proceeds of crime recovery are likely to be at the forefront, says Matthew Cowie at Rahman Ravelli.
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Unpacking Pressures, Trends Affecting Global Supply Chains
A recent HSBC report reveals a number of trends and challenges for global supply chains in the current uncertain geopolitical landscape, and with constant emerging opportunities, companies that can stay informed, be proactive and adapt to change will be well positioned to succeed, says Michelle Craven-Faulkner at Shoosmiths.
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What UK Digital Markets Act Will Mean For Competition Law
The new Digital Markets Act’s reforms will strengthen the Competition and Markets Authority's investigatory and enforcement powers across its full remit of merger control and antitrust investigations, representing a seismic shift in the U.K. competition and consumer law landscape, say lawyers at Travers Smith.
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What New UK Labour Gov't Is Planning For Financial Services
Following the Labour Party’s U.K. election win on July 4, the new government has already announced its key missions for economic growth, green investment and tax reform, so affected Financial Conduct Authority-regulated entities should be prepared for change and on the lookout for details, says Rachael Healey at RPC.