Try our Advanced Search for more refined results
Financial Services UK
-
June 27, 2024
FCA Official Vows To Pick Up The Pace Of Fraud Probes
The Financial Conduct Authority is working to increase the "pace" of its investigations of fraud and other financial crimes as a law enforcer and regulator, the watchdog's joint head of enforcement said.
-
June 27, 2024
DXC Wins TM Battle Against German Firm
American information technology DXC can now register its trademark after U.K. intellectual property officials ruled against a German investment firm's claim that the name was too similar to its own and would confuse customers.
-
June 27, 2024
A&O Shearman Steers Ireland's €593M AIB Stake Sale
The Irish government said Thursday it has sold a further 5% stake in AIB for €592.9 million ($633.8 million), as it continues to shrink its ownership after nationalizing the lender during the global financial crisis.
-
June 26, 2024
Financier Seeks Absolution In Vatican Real Estate Deal Trial
An Italian financier and his companies argued at a London trial Wednesday that the Vatican's allegations that he was involved in an unlawful conspiracy over a London property deal are "incoherent and confused," claiming he acted in good faith throughout the transactions.
-
June 26, 2024
Ex-BHS Director Ordered To Pay £50M Over Firm's Collapse
A London judge has ordered a former director of the now-defunct British Home Stores to pay £50 million ($63.2 million) in damages after concluding he had committed trading misfeasance and wrongful trading during the company's high-profile downfall.
-
June 26, 2024
Fidelis Says Aircraft Lessors Not Covered Under Russian Law
Fidelis Underwriting Ltd. has said that the lessor and owners of three aircraft stranded in Russia after the country's invasion of Ukraine cannot reclaim $77.2 million for the planes from the reinsurer because they are not insured parties under Russian law.
-
June 26, 2024
Poultry Biz Wins Appeal Over Workers' Travel Time Pay
An appellate judge ruled Wednesday that a poultry company does not have to pay its workers for the time they spent traveling to and from poultry farms, overturning a lower tribunal's ruling in favor of the U.K.'s tax authority.
-
June 26, 2024
EU Justice Head Loses Bid To Lead Human Rights Group
The European Union's justice commissioner failed in his bid to lead a European human rights organization and returned Wednesday from his leave of absence for the remaining four months of his term as commissioner.
-
June 26, 2024
DLA Piper Launches Investment Management & Funds Practice
DLA Piper formally launched its global investment management and funds practice Wednesday to meet increasing client demand and align with market trends, supporting asset managers, fund sponsors and investors.
-
June 26, 2024
Zurich To Acquire AIG's Travel Insurance Biz For $600M
Zurich Insurance Group said Wednesday that it will buy the personal travel insurance business from U.S. financial group AIG for $600 million to help the Swiss insurer to become a leading provider of holiday cover in the U.S.
-
June 25, 2024
Hedge Fund Exec Avoids Prison After Forex-Rigging Trial
The founder of U.K.-based Glen Point Capital on Tuesday was spared prison time following his conviction at trial for unlawfully manipulating the foreign exchange market in order to secure a $20 million payout for the hedge fund.
-
June 25, 2024
UK Billionaire's Pilot Avoids Prison For Insider Trading
A Manhattan federal judge sentenced a former private jet pilot to house arrest Tuesday for insider trading on stock tips from his billionaire boss Joe Lewis, finding that a prison term would be unfair in comparison to Lewis' non-incarceratory sentence.
-
June 25, 2024
NatWest Faces Fight To Revive Design School Fraud Case
The founders of an interior design school asked an appeals court to revive their fraud claim against NatWest on Tuesday, arguing that a settlement did not block their case that the bank pretended to help while trying to take the school's assets.
-
June 25, 2024
Law Firm Faces £35M Suit Over Troubled Care Home Scheme
Liquidators for a now-defunct group of companies have accused a law firm of ignoring the signs that their client was defrauding investors out of millions of pounds through a luxury care home Ponzi scheme.
-
June 25, 2024
BBC Fights For Ability To Cut Costs Of £20B Pension Scheme
The British Broadcasting Corporation launched an appeal Tuesday in a case that will decide whether it is able to reduce future benefits for members of its £19.8 billion ($25 billion) pension scheme.
-
June 25, 2024
Disability Care May Leave Parents' Pension Funds Short
Employers must create more flexible workplace cultures to ensure parents can balance caring and working after research shows that those with disabled children could be worse off in retirement because of caring responsibilities, People's Partnership said Tuesday.
-
June 25, 2024
Cantor Fitzgerald Loses Appeal Over $7.5M Unpaid Fees
Cantor Fitzgerald cannot demand a $7.5 million finder's fee for its services to the Indian bank Yes Bank Ltd., a London appeals court ruled Monday, finding the broker did not help the bank raise the private capital as stipulated in their contract.
-
July 02, 2024
Paul Hastings Hires Finance Pro Reena Gogna From Weil
Paul Hastings LLP has recruited a finance specialist from Weil Gotshal & Manges LLP in London to boost its offering to lenders in leveraged finance transactions and other complex deals.
-
June 24, 2024
Businessman Sentenced For Disclosure Failings In Fraud Suit
A real estate investor was given a suspended sentence by a London judge Monday for failing to hand over information about his financial assets to investors suing him for alleged fraud, despite a court order.
-
June 24, 2024
Ex-Luminance CEO Joins The Barrister Group As COO
The Barrister Group, which serves clients in England and Wales, announced on Monday the appointment of a chief operating officer with experience leading legal artificial intelligence co-pilot Luminance Technologies Ltd.
-
June 24, 2024
BHS Asks For £133M In Damages From Former Director
Liquidators for now-defunct retail chain British Home Stores argued Monday that one of the company's former directors owes it £133.5 million ($169.2 million), maintaining that the court should calculate damages from the day he was found to have agreed to a loan that was not in the interests of shareholders and not likely to save the business.
-
June 24, 2024
German Banker's Cum-Ex Trial Dropped Due To Health
The former chairman of M.M. Warburg & Co. KGaA will not face trial for alleged dividend-tax evasion linked to cum-ex transactions spanning from 2006 to 2019 after a German court halted the trial due to his health, according to a Monday court statement.
-
June 24, 2024
Ex-Chief Of EU Lender Probed Over Corruption Allegations
Werner Hoyer, the former head of the European Union's lending arm, is being investigated by the bloc's public prosecutor over corruption, abuse of influence and misappropriation allegations that he said on Monday were "unfounded and baseless."
-
June 24, 2024
Dentons' Inadvertent AML Error Wasn't SRA Misconduct
Dentons' U.K. arm failed in handling anti-money laundering checks on a politically exposed former client, but its oversight was entirely inadvertent and therefore did not amount to professional misconduct, a London tribunal has ruled.
-
June 24, 2024
Herbert Smith Launches ESG Regulations Monitoring Tool
Herbert Smith Freehills LLP on Monday launched a tool designed to help businesses stay up to date with the evolving landscape of environmental, social and governance regulations and reporting requirements.
Expert Analysis
-
Unpacking The UK's Proposals To Regulate Crypto-Assets
Recent proposals for crypto-asset regulation in the U.K. demonstrate support for crypto's potential, but there is concern around the authorization process for organizations undertaking crypto-asset activities, and new regulations will require a more detailed assessment of firms' compliance not previously addressed, say Jessica Lee and Menelaos Karampetsos at Brown Rudnick.
-
The Top 7 Global ESG Litigation Trends In 2023
To date, ESG litigation across the world can largely be divided into seven forms, but these patterns will continue developing, including a rise in cases against private and state actors, a more complex regulatory environment affecting multinational companies, and an increase in nongovernmental organization activity, say Sophie Lamb and Aleksandra Dulska at Latham.
-
UK Takeover Code Changes: Key Points For Bidders, Targets
Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.
-
Russia Ruling Shows UK's Robust Jurisdiction Approach
An English High Court's recent decision to grant an anti-suit injunction in the Russia-related dispute Renaissance Securities v. Chlodwig Enterprises clearly illustrates that obtaining an injunction will likely be more straightforward when the seat is in England compared to when it is abroad, say lawyers at Linklaters.
-
How New Loan Origination Regime Will Affect Fund Managers
Although the recent publication of the Alternative Investment Fund Managers Directive II represents more of an evolution than a revolution, the leverage limitations applicable to loan-originating funds are likely to present practical challenges for European credit fund managers, say attorneys at Fried Frank.
-
How EU Sustainability Directive Will Improve Co. Reporting
The need for organizations to make nonfinancial disclosures under the recently adopted EU Sustainability Reporting Standards will significantly change workforce and human rights reporting, and with the objective of fostering transparency, should bring about an increased focus on risks, policies and action plans, say Philip Spyropoulos and Thomas Player at Eversheds Sutherland.
-
PPI Ruling Spells Trouble For Financial Services Firms
The Supreme Court's recent decision in Canada Square v. Potter, which found that the claimant's missold payment protection insurance claim was not time-barred, is bad news for affected financial services firms, as there is now certainty over the law on the postponement of limitation periods, rendering hidden commission claims viable, say Ian Skinner and Chris Webber at Squire Patton.
-
What Lawyers Can Learn From FDI Screening Report Findings
The recent European Commission report on the screening of foreign direct investments into the EU reveals how member states need to balance national security concerns with openness, and with more cross-border transactions subject to screening, lawyers must be alert to jurisdictional variances, says Jonathon Gunn at Faegre Drinker.
-
UK Review May Lead To Lower Investment Screening Burden
The government’s current review of national security investment screening rules aims to refine the scope of mandatory notifications required for unproblematic deals, and is likely to result in much-needed modifications to minimize the administrative burden on businesses and investors, say lawyers at Simpson Thacher.
-
Economic Crime Act Exposure: What Companies Can Expect
The intention of the Economic Crime and Corporate Transparency Act is to make it easier to attribute criminal liability to companies if a senior manager has committed an offense, but the impact on corporate criminal convictions depends on who qualifies as a senior manager and the evidential challenges in showing it, say Hayley Ichilcik and Julius Handler at MoFo.
-
FCA Promotions Review Sends A Strong Message To Firms
The recent FCA review into firms' compliance with the rules on promoting high-risk investments to retail clients clarifies that it expects the letter and the spirit of the rules to be followed, and given the interplay with the consumer duty, there are wider implications at stake, say Marina Reason and Chris Hurn at Herbert Smith.
-
When Can Bonuses Be Clawed Back?
The High Court's recent decision in Steel v. Spencer should remind employees that the contractual conditions surrounding bonuses and the timing of any resignation must be carefully considered, as in certain circumstances, bonuses can and are being successfully clawed back by employers, say Merrill April and Rachael Parker at CM Murray.
-
The State Of UK Litigation Funding After Therium Ruling
The recent English High Court decision in Therium v. Bugsby Property has provided a glimmer of hope for litigation funders about how courts will interpret this summer's U.K. Supreme Court ruling that called funding agreements impermissible, suggesting that its adverse effects may be mitigated, says Daniel Williams at DWF Law.
-
UK Shareholding Report A Missed Opportunity For New Tech
The recommendations in the U.K. Digitization Taskforce's recent report on digitizing and improving the U.K. shareholding framework are moderate but not revolutionary, and its failure to recommend digital ledger technology will impede a full transformation of the system, say Tom Bacon and Andrew Tsang at BCLP.
-
Tools M&A Deal Makers Can Use To Bridge Valuation Gaps
As macroeconomic headwinds reset valuation expectations, parties to merger and acquisition are increasingly looking to methods such as earnouts, vendor financing and minority transactions to bridge the valuation gap and get deals done, says Philip Herbst at Cleary.