Try our Advanced Search for more refined results
Financial Services UK
-
August 13, 2024
JPMorgan Trust Seeks Shareholder Nod For Equity Raise
JPMorgan Global Growth & Income PLC said Tuesday that it is seeking approval from its shareholders to grant the investment trust the authority to issue up to 200 million of its shares in light of strong investor demand.
-
August 13, 2024
UK Regulators Mull Digital Reporting Future Outside EU
Britain's accounting watchdog on Tuesday proposed a number of potential reforms for the future of digital reporting in the U.K., amid recent legislative changes after the country's departure from the European Union.
-
August 13, 2024
Linklaters-Led Fund Buys Blackstone JV Homes For £405M
Britain's biggest private pension fund said on Tuesday that it has acquired 3,000 shared-ownership homes from a joint venture that is majority-owned by Blackstone Inc. for £405 million ($518 million).
-
August 12, 2024
Judge Won't DQ Asst. US Atty In Standard Chartered FCA Case
A New York federal judge on Monday declined to disqualify an assistant United States attorney from a long-dismissed False Claims Act suit against Standard Chartered Bank, calling the whistleblower's arguments for disqualification meritless "to the point where they verge on vexatious and frivolous."
-
August 12, 2024
UK To Look Deeper Into Amex GBT's $570M Buy Of CWT
Britain's antitrust regulator said Monday that it has referred American Express Global Business Travel's proposed acquisition of rival CWT for an in-depth second phase of investigation over concerns the approximately $570 million deal could hurt competition in the country.
-
August 12, 2024
FRC Sees Too Many Cos. Using 'Boilerplate' Wates Filings
The Financial Reporting Council said Monday that 30% of large private firms favor the Wates corporate governance principles for filing company reports, but many companies still need to improve their disclosures.
-
August 12, 2024
Westfield Sues Clearpay Over Brand Deal Breach
Shopping giant Westfield has sued Clearpay Finance Ltd. for more than £665,000 ($848,722), claiming the payment processing provider wrongly terminated two "buy now, pay later" partnerships with its London shopping centers.
-
August 12, 2024
EU Watchdog Warned Of Crypto Risk For Retail Funds
Fund managers warned the European Union markets regulator Monday that there is no consensus on how to value crypto-assets, in a consultation on whether such products should be accessible to retail funds.
-
August 12, 2024
UK Pensions Body Calls For Reform For Investment Plan
The government should consider introducing planning reform and tax incentives to encourage pensions providers to invest more in U.K. assets, a trade body said on Monday, as the new administration considers how to tap into the sector to fuel a national economic recovery.
-
August 12, 2024
LCP Launches Tool To Check Gov't Pension Payment Errors
Consultancy Lane Clark & Peacock LLP has launched an online tool designed to help retirement savers check what state pension they can get amid "worrying evidence" that some widows and widowers are not receiving their full entitlement.
-
August 09, 2024
Ex-Mozambique Finance Minister Convicted For $2B Scheme
Mozambique's former finance minister was convicted of wire fraud and money laundering conspiracy charges in connection with his role in the $2 billion "tuna bonds" scandal, prosecutors announced.
-
August 09, 2024
Kuwaiti Investment Arm Immune From Ex-CEO's Claim
The Kuwait Investment Authority has succeeded in getting a whistleblowing claim from its former chief executive thrown out of a London tribunal after a judge ruled that he was employed as a diplomat, and therefore the authority has sovereign immunity against his claim.
-
August 09, 2024
Pension Protection Fund Marks Progress On Climate Goals
The U.K. Pension Protection Fund has said it is making good progress on its climate ambitions but needs to "keep pushing" for better quality climate data across its portfolio.
-
August 09, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen China Evergrande Group file a commercial fraud claim against its founder's ex-wife, legal action by Manolete Partners against the directors of an insolvent construction company, VietJet tackle a claim by French banking group Natixis and more developments in the "Dieselgate" scandal. Here, Law360 looks at these and other new claims in the U.K.
-
August 09, 2024
Plane Stuck In Russia 'Not Lost,' Reinsurers Argue
A batch of reinsurers has denied they must pay out in a row over $44 million to cover the alleged loss of a plane leased to a Russian airline, arguing the plane is not lost and would not be covered by the policy.
-
August 09, 2024
UK Tightens Disclosure Rules For Greensill-Type Finance
The U.K.'s accounting watchdog on Friday set out amendments to reporting exemptions from international accounting standards available to subsidiaries of groups, including around disclosure of supplier finance arrangements, as used by collapsed Greensill Capital.
-
August 09, 2024
The Top Commercial Dispute Trials & Rulings Of 2024 So Far
So far in 2024 disputes lawyers have been treated to the first trial in the U.K. of an opt-out collective action, the Pope's chief of staff giving evidence, and Mozambique being awarded more than $825 million for the tuna bond scandal.
-
August 09, 2024
FCA Warned Over Risks From Value-For-Money Pension Rules
The Financial Conoduct Authority's new "traffic light" system for assessing the value-for-money offered by a pension scheme could create unintended consequences, experts warned Friday.
-
August 09, 2024
Hargreaves Lansdown Agrees To £5.4B CVC Takeover Offer
Hargreaves Lansdown PLC said Friday that its board has agreed to a £5.4 billion ($6.9 billion) take-private offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.
-
August 08, 2024
SEC Wins Jurisdiction Over German As Sanction For Default
A German national who the U.S. Securities and Exchange Commission says has ignored discovery requests in its attempt to recover proceeds from a $150 million international pump and dump scheme involving his son is subject to personal jurisdiction in the U.S., a Boston federal judge ordered as a sanction.
-
August 08, 2024
Derivatives Co. Fails To Refreeze Assets In Global Fraud Case
Multibank has failed to revive a freezing order against two investment companies and an executive it alleges were involved in an unlawful conspiracy, after an appeals court upheld a ruling that the international derivatives provider had made serious disclosure failings.
-
August 15, 2024
Sidley, Milbank Tap Latham For Finance Hires In London
Sidley Austin LLP is set to recruit five finance partners from Latham & Watkins LLP in London, adding to the U.S. outfit's woes after Milbank LLP said that it has snapped up its own six-lawyer team in the English capital.
-
August 08, 2024
EU Watchdog Finds Poor Practices In Nonbank Lenders
The European Union's banking watchdog has found that nonbank lenders are often failing to verify the accuracy of information they gather on borrowers, helping to put them in too much debt.
-
August 08, 2024
Finance Co. Botched Risk Outline In Fire Claim, Insurer Says
A subsidiary of U K Insurance Ltd. has denied having to pay out on a policy with Parker Asset Management Ltd. over a fire that destroyed a property costing around £4.2 million ($5.3 million), saying the company did not fairly present its insurance risk.
-
August 08, 2024
UK Gov't Refunds £57M In Pension Freedoms Overtaxation
The government has been forced to repay £59.6 million ($75.5 million) in the three months between April and June to people who overpaid tax after they tapped into their pensions for the first time, according to HM Revenue and Customs.
Expert Analysis
-
How Data Privacy Law Cases Are Evolving In UK, EU And US
To see where the law is heading in 2024, it is worth looking at privacy litigation and enforcement trends from last year, where we saw a focus on General Data Protection Regulation regulatory enforcement actions in the U.K. and EU, and class actions brought by private plaintiffs in the U.S., say lawyers at Morgan Lewis.
-
Misleading Airline Ads Offer Lessons To Avoid Greenwashing
Following the Advertising Standards Authority's recent decision that three airlines' adverts misled customers about their environmental impact, companies should ensure that their green claims comply with legal standards to avoid risking reputational damage, which could have financial repercussions, say Elaina Bailes and Olivia Shaw at Stewarts.
-
An Overview Of UK Short Selling Regulation Reforms
The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.
-
Supreme Court Ruling Is A Gift To Insolvency Practitioners
As corporate criminal liability is in sharp focus, the Supreme Court's recent decision in Palmer v. Northern Derbyshire Magistrates' Court that administrators are not company officers and should not be held liable under U.K. labor law is instructive in focusing on the substance and not merely the title of a person's role within a company, say lawyers at Greenberg Traurig.
-
What Can Be Learned From Adobe-Figma Merger Termination
The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.
-
How FCA Listing Regime Reform Proposals Are Developing
The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.
-
Major EU AI Banking Ruling Will Reverberate Across Sectors
Following the European Court of Justice's recent OQ v. Land Hessen decision that banks' use of AI-driven credit scores to make consumer decisions did not comply with the General Data Protection Regulation, regulators indicated that the ruling would apply broadly, leaving numerous industries that employ AI-powered decisions open to scrutiny, say lawyers at Alston & Bird.
-
Key Points From Ireland's New Accountability Framework
The recently introduced Individual Accountability Framework is a positive step for the financial services industry in Ireland, and in contributing to cultural and practical change will encourage positive behavior and good governance for the benefit of the industry and investors, say Aongus McCarthy and Niall Esler at Walkers Global.
-
Technology And AI: 2024's Legal And Regulatory Landscape
Alexander Amato-Cravero at Herbert Smith discusses what businesses and their lawyers can expect in the year ahead in terms of regulation, policies and associated risks related to advancing technologies and artificial intelligence, including the need for increased internal governance and workforce engagement.
-
US And UK Law Firms Continue Trend Of EU Expansion
A broad spectrum of U.S. and U.K. law firms are now seeking fresh opportunities in Europe's fastest growing and constantly evolving sectors by opening offices in strategic locations across the continent, says James Lavan at Buchanan Law.
-
A Look At 2023's Landmark Insolvency Developments
The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.
-
Pension Industry Should Monitor Evolving ESG Issues In 2024
ESG thinking in the pensions industry has substantially evolved from focusing on climate change and net-zero to including nature and social considerations, and formalizing governance processes — illustrating that, in 2024, continually monitoring ESG issues sits squarely within trustee fiduciary duties, says Liz Ramsaran at DWF.
-
What 2024 Has In Store For White Collar Crime Enforcement
Changes in Serious Fraud Office leadership and corporate crime laws in the U.K. signal a chance to kickstart enforcement in 2024, and companies need to stay alive to risks within their business, preparing in particular for the new offense of failure to prevent fraud, say lawyers at Latham.
-
Emerging Trends From A Busy Climate Litigation Year
Although many environmental cases brought in the U.K. were unsuccessful in 2023, they arguably clarified several relevant issues, such as climate rights, director and trustee obligations, and the extent to which claimants can hold the government accountable, illustrating what 2024 may have in store for climate litigation, say Simon Bishop and Patrick Kenny at Hausfeld.
-
Regulating Digital Platforms: What's Changing In EU And UK
Lawyers at Mayer Brown assess the status of recently enacted EU and U.K. antitrust regulation governing gatekeeper platforms, noting that the effects are already being felt, and that companies will need to avoid anti-competitive self-preferencing and ensure a higher degree of interoperability than has been required to date.