Financial Services UK

  • September 06, 2024

    Travers Smith Names Elmore As New Head Of Funds

    Travers Smith LLP said Friday that it has appointed Jeremy Elmore as its new head of funds, as the firm looks to continue building its practice following partner exits in 2023.

  • September 06, 2024

    EU Gears Up For New Commission With A Plea: More Women

    European Commission President Ursula von der Leyen is gearing up to distribute the top jobs in foreign trade, economics and antitrust among the new commissioners for their five-year mandate, but she is pressing countries in the bloc to nominate more female candidates.

  • September 06, 2024

    Finance Co. Beats Would-Be CEO's Whistleblowing Claim

    A U.K. finance company sacked its would-be chief executive because he lacked the experience and skills for the role — not because he had flagged alleged compliance breaches, a tribunal has ruled.

  • September 06, 2024

    UK Lags Globally In Pensions Allocation To Domestic Stocks

    British pension funds have a "significantly lower" allocation of their assets to the domestic stock market than most of their counterparts around the world, a think tank has said.

  • September 06, 2024

    UK Regulators Back Nationwide's £2.9B Deal For Virgin Money

    Two U.K. financial regulators have given their consent for Nationwide Building Society's £2.9 billion ($3.8 billion) acquisition of Virgin Money UK PLC, the lenders said Friday.

  • September 06, 2024

    City Task Force Calls For Shake-Up Of UK Capital Markets

    The U.K. must encourage risk-taking in its capital markets in order to remain competitive in the global stage and help fund £1 trillion ($1.32 trillion) of fresh investment needed to hit economic targets, a task force of City heavyweights said on Friday.

  • September 06, 2024

    Companies Failing To Oversee Reps Properly, FCA Finds

    The Financial Conduct Authority warned Friday that firms are failing to properly oversee the agents that carry on regulated activities for them without having to be individually authorized.

  • September 06, 2024

    Pensions Campaigners Say Gov't Meeting 'Start Of Something'

    The chair of a campaign group working to secure compensation for women after the government failed to tell them that their retirement age had changed said Friday that its first meeting with the pensions minister was "the start of something."

  • September 06, 2024

    British Savers Urged To Track Down Lost Pension Pots

    British insurers urged U.K. savers on Friday to take action and track down their lost pension pots in a new campaign aimed at raising awareness about planning for retirement.

  • September 05, 2024

    Investors Claim £12.6M Bank Investment Started With A Lie

    An investment company and its owner have sued two business partners for more than £12.6 million ($16.6 million) paid to set up a specialist bank, accusing the pair of lying by saying less than half that amount would be needed to get the bank off the ground.

  • September 05, 2024

    FCA Boasts Accelerated Authorizations For Firms

    The Financial Conduct Authority said Thursday in its 2023-2024 annual report that it has significantly improved its authorization process, but has missed some targets in relation to processing applications of payments firms.

  • September 05, 2024

    'Act Now' On Dashboard Prep, Pensions Watchdog Warns

    Pension scheme trustees should "act now" to be ready for the long-awaited government project designed to connect workers with lost pots and avoid enforcement action for failing to meet their duties, The Pensions Regulator warned Thursday.

  • September 05, 2024

    Gov't Consults On Plans For Pension Market Consolidation

    The U.K. government is seeking feedback on the potential benefits and risks for pension savers and the economy if the pension market becomes more consolidated with larger schemes managing more assets.

  • September 05, 2024

    Surge In Pension Deal Demand Expected In 2nd Half Of 2024

    There is likely to be a record number of transactions in the U.K. pensions market in 2024, according to a study published Thursday by accounting giant PwC, despite what many have described as a slower start to the year.

  • September 05, 2024

    Visa Boosts Consumer Protection In Bank Transfers

    Visa Inc. said Thursday that it is launching a new U.K. service that will provide a safer and more user-friendly way for consumers to make payments directly from their bank accounts.

  • September 05, 2024

    FRC Warns Against Misuse Of Offsetting Financial Data

    Companies that record a gain which nullifies the effect of its entry into their balance sheets — a practice known as offsetting — have caused "material errors" in their financial statements, Britain's accounting watchdog said Thursday.

  • September 05, 2024

    CVC Raises €7.4B Of Capital In 1st Results After Listing

    European private equity firm CVC Capital Partners PLC said Thursday that it has raised €7.4 billion ($8.2 billion) in fresh capital during the first six months of 2024 as it published its first set of results since its €2 billion flotation in Amsterdam.

  • September 04, 2024

    FCA Tells Banks To Protect Customers From Being Debanked

    Banks must do more to ensure consumers are not being denied accounts unfairly, the Financial Conduct Authority said Wednesday.

  • September 04, 2024

    BNP Paribas Seeks To Move VietJet Litigation To UK

    BNP Paribas SA has pushed to move a claim filed by VietJet Aviation to the English courts, arguing that disputes over their financial agreements with the Vietnamese low-cost airline belong in England, not Vietnam.

  • September 04, 2024

    Pension Pot Needs For 'Basic' Retirement Rose 60% In 3 Years

    Pensioners need 60% more retirement savings to meet basic costs compared to just three years ago, according to a think tank's research published Wednesday.

  • September 11, 2024

    Hausfeld Snaps Up Litigation Pro From Covington In London

    Hausfeld LLP has hired a partner from Covington & Burling LLP in London to boost its profile in commercial disputes, after its office in the U.K. capital recently underwent changes in leadership.

  • September 04, 2024

    Cap On Push-Payment Fraud Payouts To Plummet To £85K

    The payments watchdog said Wednesday that it plans to cut the cap on compulsory reimbursement by companies of authorized push payment fraud from £415,000 ($546,000) to £85,000.

  • September 04, 2024

    Fraud, Scam Complaints Reach Highest-Ever Level

    Fraud complaints in the U.K. reached a record high with 8,734 cases reported between April and June, according to data from the Financial Ombudsman Service published Wednesday.

  • September 03, 2024

    Tech Co. Accused Of Defrauding 'Plasma Reactor' Investor

    A Chinese businessman and his company have sued a U.K. technology company claiming they were defrauded of nearly £2.9 million ($3.8 million) by the firm and its directors after being led under false pretenses into investing in the development of a so-called "plasma reactor."

  • September 03, 2024

    CMA Clears Tate & Lyle Sugar Biz Deal

    Britain's competition authority said Tuesday it has now cleared Tate & Lyle's planned purchase of sugar producer Tereos' U.K. business, as the unit was at risk of shutting down without the deal, which would lead to reduced competition in the industry anyway.

Expert Analysis

  • Opinion

    Russia Ruling Should Lead UK To Review Sanctions Policy

    Author Photo

    The High Court's recent dismissal of the first-ever court challenge to Russian sanctions in Shvidler v. Secretary of State sets a demanding standard for overturning designation decisions, highlighting the need for an independent review of the Russia sanctions regime, says Helen Taylor at Spotlight on Corruption.

  • German Competition Law May Herald New Enforcement Trend

    Author Photo

    The recent amendment to the German Act against Restraints of Competition is expected to significantly expand the powers of the German Federal Cartel Office, and could signal a global trend toward greater direct intervention by national competition authorities and political interference in competition law, say lawyers at Simmons & Simmons.

  • New Financial Services Act Leaves Few Firms Untouched

    Author Photo

    The recently published Financial Services and Markets Act 2023, which replaces retained EU law with U.K. legislation, is one of the most significant pieces of post-Brexit regulation, with key practical implications for actors such as investment firms and crypto-asset and payment service providers, say Tim Cant, Emma Tran and Bisola Williams at Ashurst.

  • FCA 'De-Banking' Clampdown May Need Gov't Backing

    Author Photo

    The U.K. Financial Conduct Authority’s recent clampdown on unfair bank account closures will give customers greater transparency, but with terms usually skewed in the bank’s favor, it is a policy matter for the government to enact further protections for businesses and consumers, say Stephen Rosen and Jean-Martin Louw at Collyer Bristow.

  • UK Securitization Reform Opts For Modest Approach, For Now

    Author Photo

    Recently published consultation papers from the U.K. Prudential Regulation and Financial Conduct Authorities on new securitization rules mainly restate retained EU law, but there are some targeted adjustments being proposed and further divergence is to be expected, say Alix Prentice and Assia Damianova at Cadwalader.

  • Examining PayPal's Venture Into The Stablecoin Market

    Author Photo

    PayPal’s recent release of a stablecoin pegged to the U.S. dollar may represent a groundbreaking innovation or could fail as others have before it, and policymakers in the U.K. and the EU will be watching the impact of this new crypto token with a keen eye, say Ben Lee and Dion Seymour at Andersen.

  • High Court Dechert Ruling Offers Litigation Privilege Lessons

    Author Photo

    While the recent High Court ruling in Al Sadeq v. Dechert LLP, which concerned torture conspiracy allegations against the firm, held that litigation privilege can be claimed by a nonparty to proceedings, the exact boundaries of privilege aren't always clear-cut and may necessitate analyzing the underlying principles, says Scott Speirs at Norton Rose.

  • FCA Consumer Duty May Pose Enforcement Challenges

    Author Photo

    The new U.K. Financial Conduct Authority consumer duty sets higher standards of customer protection and transparency for financial services firms, but given the myriad products available across the sector, policing the regulations is going to be a challenging task, says Alessio Ianiello at Keller Postman.

  • UK Insolvency Reform Review Shows Measures Are Working

    Author Photo

    The U.K. Insolvency Service's recently published review of legislative reforms to the corporate insolvency regime demonstrates that despite being underutilized, the measures have been shown to help viable companies survive, and with the current difficult economic environment, will likely be an important aspect of organizational restructuring going forward, says Kirsten Fulton-Fleming at Taylor Wessing.

  • More UK Collective Actions On The Horizon After Forex Ruling

    Author Photo

    A U.K. appeals court's recent decision in Forex case Evans v. Barclays is likely to significantly widen the scope of opt-out collective proceedings that can be brought, paving the way for more class actions by prospective claimants who have previously been unable to bring individual claims, say Robin Henry and Tamara Davis at Collyer Bristow.

  • FCA Listing Reform Proposals Aim To Modernize UK Markets

    Author Photo

    The U.K. Financial Conduct Authority's recent proposals to reform listing rules will enhance equities while retaining protections and high governance standards, and will also make the capital markets work more efficiently and competitively with other global markets, say lawyers at Greenberg Traurig.

  • Takeaways From ICO's Action In NatWest Privacy Dispute

    Author Photo

    The U.K. Information Commissioner’s Office's latest intervention in the Nigel Farage NatWest Bank dispute highlights the importance of the legal responsibilities of all data processors in possession of sensitive information, and is a reminder that upholding bank customers' privacy rights is paramount, says James Kelliher at Keller Postman.

  • How The OECD Global Tax Proposal Could Affect M&A

    Author Photo

    Following agreement on the Organization for Economic Cooperation and Development’s Pillar Two proposal to introduce a global minimum tax, domestic implementation is expected to have a significant impact on international M&A transactions, with financial modeling, deal structuring, risk allocation and joint venture arrangements likely to be affected, say lawyers at Freshfields.

  • How Russia Sanctions May Complicate Contract Obligations

    Author Photo

    Against the backdrop of recent comprehensive sanctions against Russia and Belarus, a review of recent U.K. case law clarifies that certain force majeure clauses likely cover trade sanctions, and that future litigation will further develop the scope of force majeure and frustration in the context of sanctions, says Frances Jenkins at Quillon Law.

  • New Guidance Offers Clarity For Charities On ESG Investing

    Author Photo

    The need for charities to understand investing in line with environmental, social and governance aspirations has never been more pressing, and recently updated U.K. Charity Commission guidance should give trustees confidence to make decisions that are right for their organization, says Robert Nieri at Shoosmiths.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Financial Services UK archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!