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UK Ransomware Ban Could Boost Cost Of Cyber-Insurance

The cost of buying cyber-insurance for the public sector and critical infrastructure could rise significantly because of a proposed ban on paying ransomware demands, experts warn, as the U.K. government looks at ways to disrupt the income of online criminals.

Bigger Isn't Better In 拢25B Pensions Megafund Reform

The U.K. government unveiled on Thursday a sweeping reform program to drive the creation of new pension megafunds with the firepower to invest more in the U.K. economy聽鈥� but experts warn this could stifle competition and "put a gun" to providers' heads.

Financial Analyst Working on Computer with Multi-Monitor Workstation

Draft UK Crypto-Regulations Facing Teething Troubles

The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.

FCA Set To Get Enforcement Boost From New Fraud Offense

The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to聽"name and shame" companies it is investigating, lawyers say.聽

June 06, 2025
UK Litigation Roundup: Here's What You Missed In London

The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.
June 06, 2025
Gov't To Face Judicial Review Over State Pension Redress

The High Court has granted approval for a challenge to the government's decision on compensation for failure to inform women that their pension age had changed, a move activists have termed a "landmark moment."
June 06, 2025
UK To Launch Delayed Second Phase Of Pensions Review

The government said it will soon launch the delayed second phase of its pensions review, in what experts hope could be the biggest shakeup for the sector for 20 years.
June 06, 2025
UK Pensions Bill To Transform Trustees' Role, Watchdog Says

Britain's retirement savings watchdog has said it will look to other regulators and governance standards for guidance to ensure that pensions trusteeship is ready for the "transformational" impact of reforms that have recently been announced.
June 06, 2025
UK Floats Legislative Fix For Virgin Media Pensions Case

The government has said it will push through legislation to deal with the legal fallout for pension trustees from a landmark Court of Appeal ruling in 2024.
June 05, 2025
Meta Pressed By MPs Over Slow Removal Of Harmful Content

A group of influential MPs said Friday that they have written to Meta asking the Facebook-owner to explain its tardy responses to requests by the City watchdog for the removal of harmful content from financial influencers appearing on its platforms.
June 05, 2025
UK Pension Assets Hit 拢3.2T Amid Shift To Private Markets

The total value of U.K. pensions grew by 11% in 2024 to 拢3.2 trillion ($4.3 trillion), the Pensions Policy Institute has said, noting a movement to private market investment in a "period of transition" in Britain.
June 05, 2025
UK Insurers Abusing Dishonesty Defense, Legal Body Warns

Insurers are using allegations of fraud in a "scattergun" approach in defending against personal injury claims, a legal trade body warned Thursday.
June 05, 2025
Gov't Unveils Landmark Pension Reforms To Boost Savings

The government has unveiled a raft of pension reforms that it said will dramatically boost the savings of millions of British workers.
June 05, 2025
Ombudsman Eyes Interest Rate Cut On Compensation Awards

The financial disputes body has proposed lowering the interest rate it applies to compensation awarded to people who have lost money as it pushes to modernize redress in the U.K.聽
June 04, 2025
DWF Argues Privacy Claim A Litigation Ploy At Trial

DWF 麻豆传媒 LLP argued at trial Wednesday that a claim by three people that the law firm unlawfully shared their health data was only brought to "secure an advantage" for their lawyers in separate proceedings against insurers.
June 04, 2025
Most UK Pension Plans Mulling Surplus Use, LCP Says

Most defined benefit pension plans are either actively considering or already planning to use their retirement plan surplus amid government rule changes, according to consultancy Lane Clark & Peacock.
June 04, 2025
Sustained Investment Needed For Flood Resilience, ABI Warns

The Labour government must commit to "substantial and sustained investment" to improve flood resilience across the U.K., the Association of British Insurers has said.
June 04, 2025
Lloyd's Broker Faces 2027 Trial Over $3M Bribery Scheme

A Lloyd's of London broker is scheduled to stand trial in 2027 over allegations it failed to prevent its associates in the U.S. from bribing an Ecuadorian official in exchange for lucrative reinsurance contracts worth $38 million.
June 04, 2025
Pensions Watchdog Floats 'Endgame' Guidance For Providers

The U.K.'s retirement savings watchdog has laid out new guidance for pension plans approaching their endgame after the government floated new laws last week that would allow surplus extraction.
June 04, 2025
Police Crack Down On UK Insurance 'Ghost-Broking' Fraud

The financial crime police unit has said it has carried out a national campaign to target the rise of "ghost-broking" fraud, which is on the rise fueled by social media.
June 03, 2025
Kennedys' Revenues Top 拢400M In New Record For Firm

Kennedys said Wednesday that it has posted revenues of more than 拢400 million ($540.8 million), a figure that smashed the previous year's total as the firm recorded growth for the 11th consecutive year.
June 03, 2025
Insurer Seeks 拢34M From Cigna For Missold PPI Complaints

PA (GI) Ltd. said it is entitled to recover from Cigna more than 拢34 million ($46 million) it has spent dealing with missold payment protection insurance claims, arguing at trial on Tuesday that it dealt with those complaints in the "fairest" and "most cost-effective" way.
June 03, 2025
New FCA Enforcement Guide Revises Rules On Case Publicity

The Financial Conduct Authority on Tuesday released its revised enforcement guide, setting out additional circumstances when it may publicize investigations.
June 03, 2025
FRC Simplifies Reporting Rules For UK Asset Managers

The accounting regulator published its updated 2026 UK Stewardship Code on Tuesday, pruning back the reporting burden by between 20% and 30% for many large asset managers and investment groups.
June 03, 2025
Aviva Warns Over Fire Risk Amid Rising UK Temperatures

Insurance giant Aviva warned British homeowners on Tuesday to be vigilant about the risk of fire to their homes and gardens as the country looks likely to experience the warmest spring for a century.
June 03, 2025
UK Retirement Costs Drop As Energy Prices Ease

The estimated cost for a minimum standard of living in retirement has fallen for both one- and two-person households, a trade body for the sector said Tuesday, driven largely by a "substantial reduction" in U.K. energy costs.
June 02, 2025
FCA Pledges Action On Insurers Over Client Harm Complaints

The Financial Conduct Authority has said it will act where it finds general insurers harm consumers following a complaint by Which?, the advocacy group, which includes a petition signed by 170,000 consumers.
June 02, 2025
AI Use Soars Among UK Cos. Despite Rising Cyber-Risks

More than 90% of U.K. businesses are either looking at or already using artificial intelligence tools, despite a vast number believing that cyberthreats are on the rise, according to research by insurer QBE released Monday.
June 02, 2025
Gov't Told To Provide Timeline On Private Sector Dashboards

The U.K. government must publish a roadmap for the introduction of private sector pension "dashboards," a trade body said Monday, warning that officials will fail to hit targets for public engagement without making the service widely accessible.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say. 聽
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.
A Shifting Landscape Of Greater Scrutiny After Data Breaches

Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.
What To Note As HM Treasury, FCA Plan New Crypto Regs

Taken together, HM Treasury鈥檚 recently proposed crypto-asset regulations and the Financial Conduct Authority鈥檚 new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.
FCA Update Eases Private Stock Market Disclosure Rules

The Financial Conduct Authority鈥檚 recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
Why Cos. Should Investigate Unethical Supply Chain Conduct

The U.K. government鈥檚 recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
How UK Proposals Would Simplify Fund Manager Regime

The ongoing HM Treasury consultation and Financial Conduct Authority call for input on the future regulation of alternative investment fund managers indicate that deliberate steps are being taken to make the AIF regime more suitable for the U.K. market, with the aim of encouraging growth and competitiveness, says Leonard Ng at Sidley.
FCA's Regulatory Plans Signal Cause For Cautious Optimism

The Financial Conduct Authority鈥檚 latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
What Latest FCA Portfolio Letter Means For Payments Firms

Charlotte Hill at Charles Russell discusses the Financial Conduct Authority鈥檚 recent portfolio letter to CEOs of payments firms, outlining the regulator鈥檚 expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
What's Next After FCA Drops Troubled 'Name And Shame' Plan

A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it鈥檚 headed next, say lawyers at Hogan Lovells.
New UK Order Offers Welcome Clarity To Crypto Staking Rules

The recently effective Financial Services and Markets Act 2000 Amendment Order clarifies that arrangements for qualifying crypto-asset staking do not amount to a collective investment scheme, and by addressing an issue that curtailed staking activities in the U.K., facilitates the use of that practice, says Andrew Henderson at Goodwin.
How EU's Anticoercion Tool May Counter New US Tariffs

The never-before-used anticoercion instrument could allow the European Union to respond to the imposition of U.S. tariffs, potentially effective March 12, and gives EU companies a voice in the process as it provides for consultation with economic operators at different steps throughout the procedure, say lawyers at Crowell & Moring.
What To Know About Compliance As EU AI Act Takes Effect

Raj Shah at Mishcon de Reya explains how recently effective provisions of the European Union Artificial Intelligence Act, which concern prohibited AI practices and AI literacy, will affect both providers and users of AI systems, and suggests steps that companies can take now to plug any compliance gaps.
Rethinking 'No Comment' For Clients Facing Public Crises

鈥淣o comment鈥� is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
Market Infrastructure Regs Aim To Reinvigorate EU Trading

The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.
Important Changes To Note In Accountant Ethics Code Update

The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.