FCA to take control of anti-money laundering supervision of professional service firms in major reform October 21, 2025 The government’s reform of anti-money laundering and counter-terrorism financing supervision will significantly change and diminish the roles of the legal regulator and HMRC. Today, the Treasury revealed the outcome of its consultation on reforming anti-money laundering and counter-terrorism financing supervision, primarily for professional services, by creating a Single Professional Services Supervisor (SPSS), with the Financial [...]
Rolex is London’s most stolen luxury watch, but few recovered by Met Police October 21, 2025 Over 5,000 luxury watches have been stolen in London over the last three years, but barely one in 88 of these watches has been recovered by the Metropolitan Police. According to a Freedom of Information request seen by City PM, there have been 5,180 high-value watches, worth £3,000 or more, stolen between January 2022 and [...]
Waymo’s driverless taxi UK rollout puts legal system to the test October 21, 2025 The UK is set to become the first European country to welcome Waymo’s driverless taxis but lawyers caution that current laws are fundamentally incompatible with the technology. Last week, Waymo announced its UK launch will start with a small fleet of human-supervised Jaguar I-PACE electric vehicles “in the coming weeks,” before moving to fully autonomous [...]
Execs see pound signs in AI tech, not just efficiency October 20, 2025 C-suite business executives are even more enthusiastic about AI than the lawyers and accountants at the professional services firms advising them. According to research by Thomson Reuters, 90 per cent of corporate C-suite leaders say AI will have ‘high’ or ‘transformational’ impact in the next five years, compared to just 80 per cent of lawyers [...]
UK legal sector sees strong growth but AI puts pressure on hourly billing system October 20, 2025 The legal sector in the UK continues to outperform despite challenging market conditions but the uncertainty around cyber attacks could impede firms’ strategic objectives. According to the PwC Law Firm Survey 2025, the Top 10 law firms have reported UK fee income growth of 8.1 per cent, compared to 5.2 per cent across all international [...]
Three Points Law: Former Mishcon sports pair go it alone – with help from AI October 20, 2025 For a combined 25 years Simon Leaf and Tom Murray have worked at the cutting edge of sports law, advising clients including England footballer Marcus Rashford, Formula 1 driver Alex Albon, TikTok and the Saudi Sports Ministry for Mishcon de Reya. This week they have officially launched their own practice, Three Points Law, formed in [...]
Macdonald Hotels counts cost of huge legal bill after High Court loss October 20, 2025 Luxury chain Macdonald Hotels slumped into the red before being order to pay a huge legal bill after losing a case to the Bank of Scotland. Macdonald Hotels sued the Scottish subsidiary of Lloyds Bank claiming it was “seriously wronged’ by the lender which resulted in it losing out on millions of pounds. Chairman and [...]
Square Mile bespoke tailor Tom James takes legal action against ex-employee October 16, 2025 Tailoring giant Tom James launched legal action in London against a former employee, seeking to enforce restrictive covenants and confidentiality obligations. Tom James Company, the UK entity of its US giant, located on Old Jewry, has launched legal action against a former sales professional, Max Potter. The company alleged in its claim, seen by City [...]
Credit Suisse’s legal bid to recover Greensill losses from Softbank fails October 15, 2025 Swiss lender Credit Suisse has failed in its attempt to recover $440m from Softbank following the collapse of financial firm Greensill Capital. Credit Suisse – now UBS – was hit hardest by Greensill’s collapse, owing to its significant exposure through various funding and investment vehicles. Greensill Capital, founded by Alexander (Lex) Greensill, went under in [...]
Richard Desmond’s group makes Rothschild allegation in £1.3bn National Lottery dispute October 15, 2025 A high-stakes legal showdown has kicked off over the Gambling Commission’s handling of the fourth National Lottery licence, as the role of financial advisor Rothschild and its prior ties to the winning bidder take centre stage in court. Media baron Richard Desmond’s group Northern and Shell and its subsidiary, the New Lottery Company, launched legal [...]
