Try our Advanced Search for more refined results
Financial Services UK
-
September 27, 2024
Crypto-Biz Owner's 'Bitcoin Bank America' TM Refused In EU
The owner of a cryptocurrency company cannot register his "Bitcoin Bank America" brand as a trademark in the European Union because it is not distinctive, officials have ruled — as Bank of America Corp. geared up to oppose the application.
-
September 26, 2024
'Positive' Pension Investing Said To Drive Saver Engagement
Greater investment by pension schemes in assets like affordable housing or clean energy infrastructure would boost saver engagement and overall contributions, Legal & General has said.
-
September 26, 2024
Syrian Refugees' Terror Finance Case At Risk Over Costs
Syrian refugees must provide £1.6 million ($2.2 million) in security or risk having their case dismissed against two major Qatari banks they accuse of waging a "campaign of intimidation" because of their claims that the lenders funded a terrorist group.
-
September 26, 2024
Ex-Linklaters Pro Accused Of Lying To Dodge $25M Judgment
A former partner at Linklaters LLP forged documents in an attempt to avoid handing over two homes to settle a $25 million judgment against him, lawyers representing a Saudi princess told a London court on Thursday.
-
September 26, 2024
Companies House Cracks Down On Misuse With New Powers
Companies House said Thursday that it has introduced new penalties for businesses that misuse the national register, the latest stage in implementing the U.K.'s sweeping anti-fraud reforms to tackle economic crime.
-
September 26, 2024
FCA Chair Never Considered Resignation Over Whistleblowers
The chair of the Financial Conduct Authority said Thursday that it did not cross his mind to resign over allegations of having mishandled whistleblowing reports.
-
September 26, 2024
FCA Plans New Measures On Non-Financial Misconduct
The Financial Conduct Authority said Thursday that it will set out new policies on non-financial misconduct such as sexual harassment before the end of 2024, as an executive at the watchdog warned that "cultural issues" remain a problem at companies.
-
September 26, 2024
EU Mulls Greater Protection For Pensions From Market Risk
Retirement savings plans across Europe should improve their management of liquidity risk and governance procedures to protect themselves against market volatility, the bloc's insurance and pensions watchdog said on Thursday.
-
September 26, 2024
BoE Plans To Fast-Track Insurance Special Purpose Vehicles
The Bank of England on Thursday revealed plans to speed up the approval process for insurance special purpose vehicles used by insurers to manage risk, aimed at boosting the competitiveness of London's insurance market.
-
September 25, 2024
More Oversight On Professional Pension Trustees Expected
Half of the pension schemes in the U.K. are now under professional or sole trustee management for the first time, Lane Clark & Peacock has said, suggesting that growing numbers will lead to greater oversight from the retirement savings watchdog.
-
September 25, 2024
FCA Accuses 3 Of £1.4M Fraudulent Investment Scheme
Prosecutors accused three people of helping to run a £1.4 million ($1.8 million) fraudulent investment scheme through front companies and false identities in a London criminal court Wednesday.
-
September 25, 2024
FCA Unveils Customer Protections For Bust Payment Firms
Britain's financial regulator on Wednesday proposed new safeguarding rules for when payments and e-money institutions go bust in a bid to strengthen consumer protection.
-
September 25, 2024
French Finance Minister Signals Higher Taxes On Rich
The new French government is considering raising taxes on the wealthy and businesses to help reduce the country's budget deficit amid concerns over debt, according to remarks by the new finance minister.
-
September 25, 2024
HMRC Arrests 11 Suspected Of R&D Tax Fraud
HM Revenue & Customs arrested 11 people, including tax agents, at several locations on suspicion of defrauding research and development tax relief programs, officers said.
-
September 25, 2024
Crypto-Investors Can't Appeal Parts Of £10B Class Action
The Competition Appeal Tribunal has denied crypto-investors permission to challenge its decision to dismiss parts of their claim over the approval of a £9.9 billion ($13 billion) collective action against Binance and other trading platforms.
-
September 25, 2024
Smaller UK Pension Deals Behind Record Numbers In 2024
Smaller pension deals worth less than £100 million ($133.7 million) drove the "staggering" number of retirement savings de-risking transactions penned in the first half of the year, Lane Clark & Peacock LLP said Wednesday.
-
September 25, 2024
UniCredit To Base Bigger Commerzbank Stake On Benefits
The chief executive of UniCredit said Wednesday that his Italian bank is considering a further increase to its 21% stake in Commerzbank but would take the step only on terms that are beneficial for shareholders and clients of both lenders.
-
September 25, 2024
TSB Wins Early Round In £800M 'Mortgage Prisoners' Case
A group of former Northern Rock customers has lost the initial round of an £800 million ($1.1 billion) group action against TSB Bank PLC, as a London court ruled on Wednesday that the lender that bought their loans did not breach their mortgage contracts.
-
September 24, 2024
UK Gov't Brings Forward New Laws To Fight Welfare Fraud
The British government said Tuesday it is getting ready to introduce a new bill in this parliamentary session to tackle social security fraud that could save taxpayers £1.6 billion ($2.1 billion) over the next five years.
-
September 24, 2024
PRA Sets Date For Final Package Of Solvency II Rules
The Bank of England said it would publish the final set of rules for its solvency reform of the insurance sector by mid-November.
-
September 24, 2024
FCA Extends Deadline On Motor Finance Complaints
The Financial Conduct Authority on Tuesday pushed back the deadline for motor finance companies to respond to complaints about discretionary commission arrangements until Dec. 4, 2025.
-
September 24, 2024
Most UK Financial Firms Are Risk-Averse About New Tech
Financial services companies in the U.K. have delayed the adoption of new technology, such as artificial intelligence and machine learning, because they have concerns over risks, a survey by a professional services provider suggested on Tuesday.
-
September 24, 2024
Pension Trustees Urged To Look At Insurers' Carbon Targets
Trustees of retirement savings plans should look at how well insurers perform against their interim carbon-reduction targets when they choose a partner for a bulk annuities transaction, a consultancy has said.
-
September 24, 2024
Nasdaq, Deutsche Boerse Targeted In EU Antitrust Raids
Nasdaq and Deutsche Boerse said Tuesday that they are among the financial services firms being investigated by the European Commission over alleged violations of EU competition laws in derivatives trading.
-
September 24, 2024
Half Of Local Gov't Pension Plans Have No Net-Zero Target
Half of the local government pension schemes in Britain have yet to set a net-zero emissions target, according to a report published Tuesday, which reveals that just 49% of local authority retirement funds have committed to a strategy.
Expert Analysis
-
New Directors' Code Of Conduct May Serve As Useful Guide
Although the Institute of Directors’ current proposal for a voluntary code of conduct is strongly supported by its members, it must be balanced against the statutory requirement for directors to promote their company’s success, and the risk of claims by shareholders if their decisions are influenced by wider social considerations, says Matthew Watson at RPC.
-
Exploring The EU's Draft Standards On Crypto Authorization
The European Securities and Markets Authority’s recently published draft standards aim to promote fair competition and a safer environment for crypto providers and investors, detailing precisely the information to be provided to national authorities in charge of screening the acquisitions of a qualifying holding, says Mathieu de Korvin at Norton Rose.
-
How FCA Guidance Aligns With Global Cyberattack Measures
The U.K. Financial Conduct Authority’s recent guidance on preparing for cyberattacks aligns with the global move by financial regulators to focus on operational resilience, highlighting the importance of proactive strategies and robust resilience frameworks to mitigate disruptions, while observing a disappointing level of engagement by the industry, say Alix Prentice and Grace Ncube at Cadwalader.
-
Takeaways From Regulators' £61.6M Citigroup Trading Fine
Following the Financial Conduct Authority and Prudential Regulation Authority’s recent significant fining of Citigroup for its catastrophic trading error, and with more enforcement likely, institutions should update their controls and ensure system warnings do not become routine and therefore disregarded, says Abdulali Jiwaji at Signature Litigation.
-
Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
-
Assessing The Energy Act 2023, Eight Months On
Although much of the detail required to fully implement the Energy Act 2023 remains to be finalized, the scale of change in the energy sector is unprecedented, and with the U.K. prioritizing achieving net-zero, it is likely that developments will continue at pace, say lawyers at Paul Hastings.
-
Opinion
Why Timing Makes UK Libor Judgments Controversial
The recent U.K. Court of Appeal decision in the R v. Hayes and Palombo appeal against Libor convictions demonstrates that had U.K. regulators probed with the facts known today, civil claims in all jurisdictions would be dismissed and a decadelong wasted investigation should be put to rest, says Charles Kuhn at Clyde & Co.
-
Tips For Orgs Using NDAs In Light Of New UK Legislation
The recent passage of the Victims and Prisoners Act follows a crackdown on the misuse of nondisclosure agreements, but although NDAs are not prohibited and regulators recognize their legitimate justification, organizations relying on them must be able to clearly explain that justification if challenged, say attorneys at Macfarlanes.
-
What Alternative Fuel Proposals Mean For EU Infrastructure
The European Union’s proposed Alternative Fuels Infrastructure Facility, covering activities in the transport sectors supporting the decarbonization process, sets ambitious standards regarding the deployment of adequate supply infrastructure and offers new funding opportunities for port operators and shipowners, says Christian Bauer at Watson Farley.
-
Continuation Funds: What You Need To Know
As the continuation fund market matures, the structure and terms of these transactions have become increasingly complex, presenting challenges that should be carefully navigated by participants to ensure a successful transaction process, say lawyers at Skadden.
-
EU Anti-Greenwashing Guide Analyzed For Fund Managers
Anna Maleva-Otto and Matthew Dow at Schulte Roth explain how the European Securities and Markets Authority’s new guidelines on sustainability-related terms in fund names aim to protect European Union investors from unsubstantiated claims, and how they provide quantifiable criteria for determining which terms can be used to promote their funds.
-
FCA 'Finfluencer' Trial Exposes Social Media Promo Risks
The upcoming Financial Conduct Authority prosecution of nine individuals for Financial Services and Markets Act 2000 violations is the first time an online influencer will be tried for using social media to promote investments, demonstrating the need to be wary of the specific legal requirements surrounding financial product promotion, says David Claxton at Red Lion.
-
A Look At US-EU Consumer Finance Talks' Slow First Steps
The unhurried and informal nature of planned discussions between the U.S. Consumer Financial Protection Bureau and the European commissioner for justice and consumer protection suggests any coordinated regulatory action on issues like AI and "buy now, pay later" services is still a ways off, say attorneys at DLA Piper.
-
FCA Doubles Down On New Priorities With Target ID Plan
Respondents to the Financial Conduct Authority’s recent consultation on its plan to publicly name subjects under investigation are concerned that the regulator’s cost-benefit analysis has not adequately considered the risks, but the FCA is holding firm, and it seems likely the changes will be implemented, says James Tyler at Peters & Peters.
-
Examining Senior Managers' Accountability For AI Use
With the Financial Conduct Authority's artificial intelligence update and the Prudential Regulation Authority’s letter to the government offering key guidance on the Senior Managers and Certification Regime, Senior Managers in these organizations need to show they have taken steps to prevent breaching requirements in order not to be held personally accountable, says Jennifer Holyoake at DLA Piper.