Try our Advanced Search for more refined results
Financial Services UK
-
July 08, 2024
Pensions Watchdog To Probe Master Trust Investment Plans
The Pensions Regulator said on Monday that it will be ramping up its focus on the investment strategies of Britian's master trusts to ensure their plans and methods deliver best results for savers.
-
July 08, 2024
NIG Sued By Asset Manager Over £4M Fire Destruction
Parker Asset Management Ltd. has sued a subsidiary of U K Insurance Ltd. for allegedly failing to honor an insurance policy after a fire destroyed one of the firm's commercial properties and resulted in a loss of about £4.2 million ($4.5 million).
-
July 08, 2024
EU Plans To Cut Some Financial Reporting Requirements
The markets watchdog of the European Union proposed on Monday to combine and reduce regular information reporting requirements from credit ratings agencies, benchmark administrators and market transparency infrastructures.
-
July 05, 2024
EU Watchdog Sets Out Sustainability Reporting Expectations
The European Union's financial markets regulator on Friday set out its expectations on new sustainability reporting standards for large companies with shares listed on stock exchanges and their regulators.
-
July 05, 2024
Bitcoin Fraudster Gets £1.5M Of Assets Frozen
A London court on Friday froze assets worth over £1.5 million ($1.9 million) belonging to Craig Wright, the man who falsely claimed to be the inventor of bitcoin, to cover the costs of a cryptocurrency podcaster who had to defend against Wright's defamation allegation.
-
July 05, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.
-
July 05, 2024
Matrix KC Richard Hermer Tapped For Attorney General
Matrix Chambers' human rights barrister Richard Hermer KC will serve as the U.K.'s attorney general in a surprise appointment from newly-elected Prime Minister Keir Starmer late Friday.
-
July 05, 2024
Signature Litigation Partner Elected To ICC
An international arbitration partner at Signature Litigation has been elected to the International Chamber of Commerce to represent Ethiopia for the next three years.
-
July 05, 2024
Recruiting Co. Fights To Overturn Redundancy Fairness Loss
A recruitment company urged a London appellate court on Friday to overturn a ruling that the company botched a redundancy process when it decided to fire an employee three weeks before the start of the consultation process, arguing that the employee had not pushed for an alternative.
-
July 05, 2024
Shabana Mahmood Named Labour's New Justice Secretary
Prime Minister Keir Starmer named former barrister Shabana Mahmood as the Labour government's new justice secretary on Friday following a sweeping victory in the U.K. general election.
-
July 05, 2024
Nordea Laundered $4B For Russians, Denmark Police Say
Police in Denmark charged Nordic bank Nordea on Friday with allegedly laundering $3.8 billion for Russian customers, in what could be the biggest violation of the country's safeguards against dirty money.
-
July 05, 2024
Starmer Picks Reeves For Treasury To Steer Growth Aims
Prime Minister Keir Starmer has handed the reins of the U.K.'s fiscal and economic policy to Rachel Reeves, formally naming her as the next chancellor of the exchequer in the first of a round of cabinet appointments on Friday.
-
July 05, 2024
Starmer Starts Work As Cabinet Appointments Expected
Keir Starmer, the newly elected prime minister, promised change that focuses on the economy and wealth creation as he prepared on Friday to begin appointing cabinet ministers to form the Labour Party's first government since 2010.
-
July 05, 2024
Investment Cos. Ask New Gov't To Remove Disclosure Rules
A trade body urged the incoming Labour government on Friday to remove unfair cost disclosure rules for investment companies that put the sector at a competitive disadvantage.
-
July 05, 2024
Mastercard Fails In Jurisdiction Bid To Cut Swipe Fees Claim
Mastercard failed Friday to knock out claims worth more than £200 million ($255 million) from a mammoth swipe fees class action after the appeals court in London said the law governing the dispute should be that of England and Wales or Scotland.
-
July 05, 2024
Aegon Calls On Labour Gov't To Set Up Pensions Commission
Pensions provider Aegon Ltd. called on the new Labour government on Friday to establish an independent pensions and savings commission within its first 100 days in office after it won an overwhelming victory in the general election.
-
July 04, 2024
Labour Gov't To Prioritize Competitive Financial Regulation
The Labour government is expected to step up regulatory change to make the country's financial services more innovative and globally competitive, with centralized oversight of the watchdogs to ensure they help consumers and facilitate economic growth.
-
July 04, 2024
Labour's Big UK Election Win Clears Way For Tax Reform
Labour's victory in the U.K. general election clears the way for plans to raise taxes on the rich to close a widening spending gap, but it could also mean wider fiscal reform in the new government's first budget later this year.
-
July 04, 2024
Labour Sweeps Tories From Power In UK Election Rout
Keir Starmer was poised to become Britain's next prime minister on Friday after his Labour Party ousted Rishi Sunak's Conservatives in a landslide general election victory, ending 14 years of Tory government with a pledge of "national renewal."
-
July 04, 2024
HSBC Wins Appeal Over Brexit Move Of EU Body To Ireland
High street lender HSBC had no option but to move the U.K. arm of its European works council to Ireland after Brexit despite protests from the representative body for European staff, an appellate tribunal ruled Thursday.
-
July 04, 2024
WSJ Publisher Dow Jones Must Face Bankers' GDPR Claims
The Wall Street Journal publisher Dow Jones has failed to strike out data protection allegations brought against it by two investment bankers as a London court found the claims were not a tactic to avoid the difficulties of bringing a defamation claim.
-
July 04, 2024
Pope Aide Says Vatican 'Trapped' By UK Property Deal
A close aide to the pope testified Thursday that he authorized payments of Є15 million ($16.2 million) to an Italian broker to regain full ownership for the Vatican of a London building at the heart a now-notorious property deal.
-
July 04, 2024
Lender Hits Elite Law For £1.9M Over Alleged Loan Breach
A lender has sued Elite Law Solicitors after it allegedly failed to spot that its client was a fraud and did not secure necessary protections over a £1.9 million ($2.4 million) property loan, telling a court that this has left it unable to recover its cash.
-
July 04, 2024
Emirati Scrap Metal Sellers Lied To Secure $45M Loan
A Dubai shipping broker and his son made false and fraudulent representations when they secured a $45 million loan arrangement from a Norwegian security agent and other lenders, a London court has ruled.
-
July 04, 2024
Insurers Disadvantaged By EU Sustainability Reporting Rules
European insurers have warned that bloc-wide rules on sustainability reporting for the sector are incomplete and inconsistent, meaning they are not reliable for investors.
Expert Analysis
-
5 Takeaways From ICO's Biometric Recognition Guidance
Recent guidance from the U.K. Information Commissioner’s Office is a helpful reminder of key data protection principles and obligations stemming from the U.K. General Data Protection Regulation that organizations should consider when implementing biometric recognition technology, say lawyers at Dechert.
-
Shifting From Technical To Clear Insurance Contract Wordings
Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.
-
A Case For The Green Investment Regime Under The ECT
The EU and U.K.'s potential plans to exit the Energy Charter Treaty, which has been criticized as protecting fossil fuel investments to the detriment of energy transition, ignore the significant strides taken to modernize the treaty and its ability to promote investment in cleaner energy forms, say Amy Frey and Simon Maynard at King & Spalding.
-
Considerations For Fund Managers Seeking Retail Investment
With recent legal developments, including a revised Long Term Investment Funds Regulation effective in 2024, supporting the market trend of retailization, there are several practical considerations for alternative fund managers embarking on a European fundraise for retail capital, say Zac Mellor-Clark and Kate Downey at Fried Frank.
-
FDI Considerations For UK Venture Capital Transactions
With the U.K. National Security and Investment Act highlighting foreign direct investment matters for venture capital transactions, investors dealing with companies connected to the U.K. should be alive to how the act's requirements can affect deal timelines, structures and terms, say lawyers at Covington.
-
How Employers Can Support Neurodiversity In The Workplace
A recent run of cases emphasize employers' duties to make reasonable adjustments for neurodiverse employees under the Equalities Act, illustrating the importance of investing in staff education and listening to neurodivergent workers to improve recruitment, retention and productivity in the workplace, say Anna Henderson and Tim Leaver at Herbert Smith.
-
What The Anti-Coercion Instrument Will Bring To The EU
Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring discuss why the European Union recently adopted a report on the anti-coercion instrument to reform its trade legislation, how the instrument will be used to respond to unfair economic pressure from third countries, and how businesses can impact the EU's decision making.
-
Why FCA Crypto Rules Need To Align With UK Gov't Aims
There is a critical need for cryptocurrency regulations that protect consumers while supporting the government's aim to make the U.K. a crypto hub, but the Financial Conduct Authority’s recently effective rules on financial promotion of crypto-assets bring an unintended risk that legitimate firms will be driven out of the market, says Laura Navarathnam at the Crypto Council for Innovation.
-
CMA Report On AI May Lead to Greater Competition Control
The U.K. Competition and Markets Authority’s recent report on artificial intelligence foundation models is a sign that developers could face increased merger control and antitrust enforcement, and businesses should be mindful of these views to ensure that their models do not come under investigation, say attorneys at Morgan Lewis.
-
UK Mozambique Ruling Will Have Int'l Ramifications
The recent U.K. Supreme Court judgment in Mozambique v. Privinvest considered for the first time stay proceedings under the Arbitration Act, offering guidance on whether claims are a "matter" within the scope of an arbitration clause, which could become a point of reference for foreign courts in the future, say lawyers at Herbert Smith.
-
Recent Trends In European ESG-Related Shareholder Activism
New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.
-
Audit Regulator Review Has Tips On Climate Metric Reporting
The U.K. Financial Reporting Council’s recent review of climate-related metrics and targets in listed companies’ annual reports is an extremely useful guide for issuers considering the quality of their disclosure reporting, with a number of key areas identified as central to further improvement, say lawyers at Bryan Cave.
-
What Russia Case Reveals About UK Sanctions Enforcement
The Office of Financial Sanctions Implementation recently issued its first enforcement action under the U.K.'s expanded Russia sanctions against a relatively small company for a moderately severe breach — a decision that highlights several questions about the watchdog’s purpose and methods, say Maia Cohen-Lask and Tasha Benkhadra at Corker Binning.
-
Breaking Down The UK's Draft Updates To Prospectus Regime
While there still may be changes, the U.K.'s near-final draft statutory instrument to update and in some parts replace the current on-shored EU prospectus regime is likely to represent a significant overhaul of the existing regime and may make U.K. capital markets a more attractive venue for listings for issuers, say attorneys at Debevoise.
-
Italy's Bank-Profits Tax Plan May Become Model For Eurozone
If Italy's recently proposed 40% bank-profits tax helps keep its populist coalition government in power, notwithstanding the European Central Bank's legal challenges, the passage could spark a windfall tax trend across the eurozone and even in the U.K., says Cris Cicala at Stinson.