Financial Services UK

The Top Corporate Crime Cases To Watch In The Rest Of 2025

The crackdown by the Serious Fraud Office on dirty money could dominate the attention of white collar lawyers in the second half of 2025 as the agency pursues two cases that could define the circumstances in which it can seize suspected criminal money.

Insurers Face Rising Tide Of Claims From AI-Driven Fraud

Insurers in Britain could be on the hook for far higher losses because of the rising use by criminals of artificial intelligence tools to invent or inflate claims, lawyers have warned.

Appointed Reps Reform Gives FCA Bigger Enforcement Hook

The U.K. government's plans to tighten the rules for appointed representatives will give the Financial Conduct Authority a far greater enforcement hook, making the regime costlier and harder to access by the companies it is designed to support, lawyers have warned.

Insolvency Service Official Explains Economic Crime Shift

The Insolvency Service's evolution into a frontline economic crime enforcer provides the government with an agency with new powers to crack down on fraud, which gives Whitehall a powerful tool to use against unscrupulous directors.

August 29, 2025
Ocean Wilsons Rebukes Shareholder Concern On £900M Deal

Bermudian investor Ocean Wilsons said Friday that it will go ahead with its proposed all-stock merger with local rival Hansa that will create a company with total net assets of more than £900 million ($1.2 billion), despite a shareholder's concerns.
August 29, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Prosecco DOC Consortium bring an intellectual property claim against a distributor, the Serious Fraud Office bring a civil recovery claim against the ex-wife of a solicitor jailed over a £19.5 million fraud scheme, and law firm Joseph Hage Aaronson & Bremen LLP sue its former client, the bankrupt Indian tycoon Vijay Mallya. Here, Law360 looks at these and other new claims in the U.K.
August 29, 2025
Man Gets 10 Years in Prison For £8M Conveyancing Fraud

A man who scammed a total of more than £8 million ($11 million) from victims using multiple false identities was sentenced to a decade of imprisonment at a London court on Friday as the judge said he is a "thoroughly dishonest individual."
August 29, 2025
Women's State Pension Redress Decision Gets Court Date

Campaigners fighting the government over its decision not to launch a compensation program for historic failings over the women's state pension said Friday that the High Court would hear its case in December.
August 29, 2025
Ex-Barclays Traders Push For Review After SFO Admits Errors

Three former traders convicted of rigging benchmark interest rates said Friday they will try to get their cases referred to an independent commission as soon as possible after the Serious Fraud Office admitted their convictions may be unsound.
August 29, 2025
US Tariffs Spur Asset Allocation Review By UK Pension Funds

Volatility in markets caused by Donald Trump's Liberation Day tariffs has prompted U.K. pension funds to reassess their long-term U.S. equity allocations, a consultancy said Friday.
August 29, 2025
FCA Urged To Shield Firms Offering Targeted Support

Financial services companies could be held back from offering "targeted support" to customers, out of concern they could be ordered to fork out compensation down the road, a financial adviser warned.
August 29, 2025
Finance Sector 'Risks Losing Talent' Over Class Ceiling

Just two in five young people from lower socioeconomic backgrounds believe the financial services industry is "open to them," according to research by an insurance company.
August 29, 2025
White & Case-Led JTC Rejects Fund Manager Permira's Offer

Jersey-based fund and corporate services provider JTC PLC said Friday it has rejected a "preliminary and conditional non-binding" takeover proposal from British investment company Permira Advisers LLP.
August 29, 2025
UniCredit To Boost Stake In Greek Lender Alpha To 26%

Italy's UniCredit SpA has agreed to increase its stake in Alpha Bank SA to approximately 26% in a move to "better reflect the positive contribution" the Greek lender has made to the partnership.
August 28, 2025
Prosecutors Seek Prison For Man In £8M Conveyancing Scam

Prosecutors told a London court Thursday that a man convicted of scamming more than £8 million ($11 million) through real estate swindles was well above the threshold to merit the highest level of sentence for fraud.
August 28, 2025
5 Rate-Rigging Convictions Are On Shaky Ground, SFO Says

The convictions of five traders for rigging key benchmark interest rates may be at risk after the U.K.'s highest court overturned similar cases in July, the Serious Fraud Office said Thursday.
August 28, 2025
Payroll Co. Loses Bid To Block £1.1M HMRC Debt Petition

A payroll services company cannot block a winding-up petition by HM Revenue & Customs over a debt claim of more than £1.1 million ($1.2 million) in unpaid taxes, a London court ruled in denying the company's bid.
August 28, 2025
FCA Cuts Data-Reporting Burden For 36,000 Companies

The Financial Conduct Authority said Thursday it has removed some data reporting requirements under the senior managers' regime for 36,000 businesses, representing 95% of those it authorizes.
August 28, 2025
Pension Sector Told Not To Ignore Growing Bitcoin Cos.

Pension scheme trustees should "not ignore" the growing influence of businesses raising money to buy bitcoin as part of their financial strategies, a retirement saving specialist has said.
August 28, 2025
Glencore Must Hand Over Bribery Probe Docs In Investor Case

Glencore lost its bid on Thursday to withhold documents about investigations into bribery and corruption in a legal battle with investors who claim that the company misled them by failing to disclose wrongdoing.
August 28, 2025
Pension Trustees Warned To Better Vet Cyber Resilience

Pension funds trustees must demand the right evidence on cyber resilience after incidents at Marks & Spencer, Harrods and the Co-op showed how damaging security breaches can be, according to best practice guidance released by a pensions administrator.
August 28, 2025
Barclays To Sell Nordic JV Stake To Swedbank For $273M

Swedbank AB said Thursday that it has agreed to acquire Barclays PLC's stake in Entercard, their jointly owned consumer credit group in the Nordic region, for 2.6 billion Swedish kronor ($273 million), as the Stockholm-based lender moves to strengthen its regional presence.
August 28, 2025
Pensions Body Urges Rethink On Pension Investment Powers

The largest trade body for the U.K. retirement sector has hit out at plans by the government that will effectively allow it to direct investment of pension funds.
August 28, 2025
FCA Names Pensions Exec As New Chair For Small Biz Panel

The Financial Conduct Authority said Thursday that it has appointed pensions executive Will Self as chair of its advisory panel for small business matters as the regulator help the sector explore new technology.
August 28, 2025
FCA Probes Drax Over Biomass Sourcing Allegations

The Financial Conduct Authority confirmed on Thursday that it has opened an investigation into Drax Group PLC, which the renewable energy group said is linked to its compliance with the Listing and Disclosure rules when it made statements about the sourcing of its biomass products.
August 27, 2025
UK Broker Says Sanctions Barred Completion Of VTB's Trades

A British financial broker has denied claims it owes VTB Capital PLC $3.4 million for failing to settle trades in Russian securities, arguing that sanctions on the investment bank's parent company rendered the transactions illegal.
August 27, 2025
FCA Clarifies Its Rules For Workplace Savings Accounts

The Financial Conduct Authority warned Wednesday that employers who encourage employees to open workplace savings accounts must comply with its regime on financial advertising, according to a statement clarifying the rules.
August 27, 2025
Nigeria Halts $15M Judgment Enforcement Over Fraud Claims

Nigeria has blocked the enforcement of a $15 million judgment in favor of a businessman targeted in an undercover operation by the country's security service to await a trial of its case that he obtained the judgment by fraud.
August 27, 2025
UK Gov't Warned Against Insurance Tax Hikes In Fall Budget

The government could inadvertently pile additional pressure on public healthcare if it decided to raise the insurance premium tax rate in the coming budget, a consultancy warned Wednesday.

Editor's Picks

5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Draft Pay Fraud Rules Open Tricky Legal Liabilities

The government's new draft legislation, which will give banks longer to investigate suspicions of fraud before they send payments instructed by customers, will create a wave of new legal liabilities and lead to regulatory hurdles, according to lawyers.
FCA Fires Warning Shot Over City's Consumer Duty Failings

The Financial Conduct Authority has sent out a fresh warning to financial services companies highlighting how some of them are failing to comply with its Consumer Duty regime. But experts have told Law360 that the expectations are unclear.

Expert Analysis

Fraud Law Puts Fund Managers Under Compliance Spotlight

The new failure to prevent fraud offense, effective Sept. 1, may not represent a material departure from most managers’ duties to exercise due care in preventing loss to the assets they manage, but the prospect of criminal liability should sharpen their compliance focus, says Andrew Henderson at Goodwin Procter.
CMA Pricing Guide Signals Shift In UK Consumer Protection

The Competition and Markets Authority’s recent draft price transparency guide, as part of a wider reform introduced by the Digital Markets, Competition and Consumers Act 2024, represents a significant change in U.K. consumer protection by targeting unfair trading practices and strengthening enforcement mechanisms, says Felicity Forward at Shoosmiths.
8 Compliance Team Strategies To Support Business Agility

Amid new regulatory requirements across the globe, compliance functions must design thoughtful guardrails that help business leaders achieve their commercial objectives lawfully — from repurposing existing tools to using technology thoughtfully — instead of defaulting to cumbersome protocols that hinder legitimate business, says Theodore Edelman at GCE Advisors.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
What Gov't Report Tells Lawyers About Continuing AML Risks

The U.K. government’s recent national money laundering risk assessment maintains conveyancing, company service work and misuse of client accounts as key threats, underscoring that law firms should expect renewed scrutiny and higher expectations in these high-risk areas, says Harriet Holmes at Thirdfort.
Petrofac Ruling Shifts Focus To Fairness In Restructurings

The recent Court of Appeal overturning of Petrofac's restructuring plans demonstrates a change of direction that will allow previously ignored out-of-the-money creditors a share in the benefits, and means companies must review the fair treatment of different creditor classes, say lawyers at King & Spalding.
Europe's New Defense Push Creates Investment Prospects

Recent increases in European defense expenditure and governments' desire to innovate are creating a compelling environment for investment and merger and acquisition activity, especially for small and midsize enterprises at the forefront of emerging technologies, say lawyers at Skadden.
Key Considerations For Issuers In FCA Prospectus Reform

The Financial Conduct Authority’s forthcoming reform of the U.K. prospectus regime should be attractive to both debt and equity issuers because it limits the circumstances in which a costly prospectus is required, making it easier and cheaper for listed companies to raise capital, say lawyers at Sullivan & Cromwell.
How Top Court Ruling Limits Scope Of Motor Finance Claims

The U.K. Supreme Court’s recent ruling in a landmark case concerning car finance commissions clarifies when and how a dealership’s fiduciary duties arise, considerably narrowing that path for mass consumer litigation and highlighting how an upcoming Financial Conduct Authority redress scheme will seek to balance consumer, lender and market interests, say lawyers at Cadwalader.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Lessons From Landmark UK Supreme Court Libor Ruling

The U.K. Supreme Court’s recent quashing of former traders Hayes and Palombo’s interest rate rigging convictions on the ground of jury misdirection raises concerns about failings in the criminal appeal process, and whether encouraging institutions to accept regulatory settlements can create conditions for miscarriages of justice, says Ellen Gallagher at Vardags.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Challenges For Managers In Navigating Continuation Funds

With continuation vehicles becoming an increasingly popular alternative to traditional private equity investment exit routes, managers and lenders should be confident that they understand a transaction’s structure and how it interacts with existing debt arrangements, says Jason Larkins at Travers Smith.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
High Court Elects Substance Over Form In Arbitration Dispute

The High Court recently found that an arbitral tribunal has jurisdiction over the dispute in Ras Al Khaimah Investment Authority v. India, underscoring the importance of aligning treaty interpretation with the goal of fostering investment, while rejecting interpretations that unduly limit investor protections, says Josep Galvez at 4-5 Gray's Inn.