Financial Services UK

  • January 15, 2025

    Amex GBT Blasts Bid To Block $570M Travel Services Deal

    American Express Global Business Travel Inc. told a New York federal court Tuesday that the U.S. Department of Justice case seeking to block its planned $570 million purchase of CWT Holdings LLC ignores the competitive landscape of the corporate travel management industry.

  • January 15, 2025

    TowerBrook's £283M Deal For Equals Wins FCA Backing

    British financial technology business Equals Group PLC said Wednesday that the financial regulator of the U.K. has given a green light to its £283 million ($346.5 million) takeover by a consortium of private equity firms, including TowerBrook Capital Partners LP.

  • January 15, 2025

    Nationwide Staffer Wins Unfair Dismissal Claim

    Nationwide Building Society unfairly fired an employee based on anonymous complaints against her without launching a formal investigation, but didn't discriminate against her based on race or disabilities, an employment tribunal has ruled.

  • January 15, 2025

    Russia Appeals For State Immunity In $60B Yukos Case

    Russia sought Wednesday to block former Yukos Oil investors from enforcing an almost $60 billion arbitration award, telling a London appeals court that English courts must consider its claim to state immunity afresh.

  • January 15, 2025

    Socialite In £200M Laundering Trial Saw No 'Red Flags'

    A socialite accused of being at the heart of a £200 million ($244 million) money laundering scheme said that he never intended to enter into "a criminal enterprise," as he testified at his trial on Wednesday.

  • January 15, 2025

    Gov't Consolidation Pension Plans 'Need Far More Detail'

    Proposals from the government to consolidate defined contribution pensions schemes to drum up more investment in the U.K. "need far more detail" if they are to be effective, Broadstone has said.

  • January 15, 2025

    Shvidler Says Arbitrary Sanctions 'Shatter' His Reputation

    A billionaire sanctioned for his close ties to Roman Abramovich urged Britain's highest court on Wednesday to lift the measures in a landmark case that could redefine the government's financial crackdown on Russia after it invaded Ukraine.

  • January 15, 2025

    Slaughter And May-Led Fortress Ups Loungers Bid To £366.6M

    U.S. investment firm Fortress Investment Group LLC said Wednesday that it has increased its cash bid for Loungers PLC to £366.6 million ($451 million) in a bid to persuade the shareholders of the British hospitality chain to accept the offer.

  • January 15, 2025

    HSBC Claims Trader Fired for Misconduct, Not Whistleblowing

    HSBC has denied unfairly firing a former derivatives trader, arguing at a tribunal Wednesday that he was dismissed because he failed to cooperate with an investigation and for misuse of his work phone rather than as punishment for speaking up about problematic trades.

  • January 15, 2025

    Food Co. Says Ex-Director Moved Assets Amid Fraud Claim

    A food product supplier has claimed a former director moved shares in a construction company to his wife and associates in the face of allegations of fraud and misrepresentation against him in the U.S. and London.

  • January 15, 2025

    FCA Warns More Firms Are Avoiding Redress Obligations

    The Financial Services Authority has warned that financial firms are increasingly trying to avoid compensating consumers for poor advice or products while they benefit from the assets of the business.

  • January 15, 2025

    Torsten Bell Appointed Britain's New Pensions Minister

    The government has appointed Torsten Bell, the former boss of a think tank, as the new minister for pensions, replacing Emma Reynolds, who now becomes economic secretary to the Treasury following the resignation of Tulip Siddiq.

  • January 22, 2025

    Charles Russell Speechlys Adds Barrister To Finance Team

    Charles Russell Speechlys LLP has hired an expert in digital assets to work at its financial services and funds team in London as the firm moves to bolster its practice in the face of an increasingly complex financial technology sector.

  • January 15, 2025

    Travers Smith-Led Wealth Manager To Move To Main Market

    Wealth manager Brooks Macdonald said Wednesday that it plans to move its listing from the junior to the main market in London in a bid to stem the flow of money leaving the business and broaden its source of new investors.

  • January 22, 2025

    Temple Bright Hires 2 Partners From Travers Smith, Ashurst

    Temple Bright LLP has snapped up two longtime lawyers from Travers Smith and Ashurst to continue making inroads into the growing market for alternatives to traditional law firms.

  • January 14, 2025

    Orrick Adds Paris Tax Partner From Latham

    Orrick Herrington & Sutcliffe LLP added a former counsel at Latham & Watkins LLP as a partner in its Paris office, where she'll advise clients on the tax aspects of French and international transactions, the firm said.

  • January 14, 2025

    Maloney To Testify As Trial Over ICG Stake Opens

    Irish investor Barry Maloney is set to testify over his shareholder dispute with a private equity giant after the start of the London trial Tuesday of his claim that it blocked him from forcing it out of its stake in a major software company to make him buy it out.

  • January 14, 2025

    'I Was Like Howard Hughes,' Socialite Says In Laundering Trial

    A socialite accused of being at the heart of a £200 million ($244 million) money laundering scheme said while giving evidence at his trial Tuesday that he was "like Howard Hughes" in the aftermath of police launching the investigation.

  • January 14, 2025

    Spain Plans 100% Tax On Foreign-Owned Homes

    The Spanish government plans to introduce a 100% tax on foreign-owned homes and stricter rules for holiday rentals to tourists, Prime Minister Pedro Sánchez said.

  • January 14, 2025

    UK Russia Sanctions Face Landmark Test At Supreme Court

    The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

  • January 14, 2025

    Apollo, Standard Chartered Form $3B Strategic Partnership

    Private equity giant Apollo and international banking group Standard Chartered PLC on Tuesday announced that they have formed a long-term strategic partnership under which the two will contribute up to a combined $3 billion to go towards clean energy and transition financing.

  • January 14, 2025

    Charities Advised To Prep For New Pension Funding Regime

    U.K. charities with a defined benefit pension scheme should proactively work on a strategy for their plan in line with the recently introduced funding regime for the sector to avoid potential calls for higher retirement savings contributions, Lane Clark & Peacock LLP has said.

  • January 21, 2025

    Clifford Chance Hires M&A Pro Bruce Embley From Skadden

    Clifford Chance said Tuesday that it has hired senior corporate lawyer Bruce Embley from Skadden in London as it looks to boost its transactions services.

  • January 14, 2025

    Pensions Watchdog Could Play Role In Gov't Growth Agenda

    The Pensions Regulator could play a leading role in enabling the retirement savings sector to have a greater role in the recovery of the U.K. economy, a consultancy has said.

  • January 14, 2025

    KPMG Beats Property Developer's Meritless Negligence Claim

    KPMG LLP succeeded in striking out a property developer's £25 million ($30 million) negligence claim Tuesday, after a London court dismissed the meritless allegations as an abuse of process "doomed to fail."

Expert Analysis

  • New Directors' Code Of Conduct May Serve As Useful Guide

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

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!