Professional and financial risks
Money Covered: The Week That Was – 31 July 2026
Welcome to The Week That Was on 31 July 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - July 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our July 2026 edition of Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 24 July 2026
Welcome to The Week That Was on 24 July 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreProfessional Opinion by RPC
Ahead of the curve for professional services firms
Read moreMoney Covered: The Week That Was – 17 July 2026
Welcome to The Week That Was on 17 July 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 10 July 2026
Welcome to The Week That Was on 10 July 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 3 July 2026
Welcome to The Week That Was on 3 July 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - June 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our June 2026 edition of Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreJudicial review of the FOS – a rare success
Judgment was recently handed down in the case of R (Wills & Trust Independent Financial Planning Ltd) v Financial Ombudsman Service Ltd [2026] EWHC 1566 (Admin). This case concerned judicial review of a FOS final decision. The decision was challenged on 5 grounds: 1. Ground 1 – that the Ombudsman had exceeded his jurisdiction by determining matters that did not form part of the complaint; 2. Grounds 2 – 4 - concerned elements of the decision being irrational or not properly explained; and 3. Ground 5 - concerned quantum, specifically that the method applied for calculating redress was irrational..
Read moreMoney Covered: The Week That Was – 26 June 2026
Welcome to The Week That Was on 26 June 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 18 June 2026
Welcome to The Week That Was on 18 June 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 12 June 2026
Welcome to The Week That Was on 12 June 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 5 June 2026
Welcome to The Week That Was on 5 June 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreThe Second Pension Commission's Interim Report – what does it say and what next?
The Second Pension Commission published its Interim Report setting out its findings so far and signposting its focus for its Final Report.
Read moreMoney Covered: The Week That Was – 29 May 2026
Welcome to The Week That Was on 29 May 2026. Here is a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - May 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our May 2026 edition of Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 22 May 2026
Welcome to The Week That Was on 22 May 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 15 May 2026
Welcome to The Week That Was on 15 May 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: May 2026 – An update on the vehicle finance redress scheme
In this episode, Mel is once again joined by David Allinson to discuss the FCA’s proposed section 404 consumer redress scheme for vehicle finance, now the FCA has confirmed they will be going ahead with the scheme.
Read moreMoney Covered: The Week That Was – 8 May 2026
Welcome to The Week That Was on 8 May 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 1 May 2026
Welcome to The Week That Was on 1 May 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - April 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our April 2026 edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 24 April 2026
Welcome to The Week That Was on 24 April 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreProfessional services disputes and insolvency: Q1 2026 signals persistent pressure
Solomonic’s latest insight suggests that litigation is on the rise against a backdrop of “ongoing global uncertainty". Two areas stand out for those focused on professional and financial risks: a notable uplift in claims involving professional services firms, and renewed momentum in insolvency-related actions.
Read moreTrustees may remain liable where a historic transfer-out cannot be proved
In a recent determination from the Pensions Ombudsman (TPO), TPO decided that a professional trustee of a small self-administered scheme (SSAS) was liable for 80% of the losses arising from high-risk investments on the basis that insufficient due diligence was conducted on these investments.
Read moreThe Pensions Ombudsman provides a stark reminder of the importance of conducting adequate due diligence on high-risk investments as a professional SSAS trustee
In a recent determination from the Pensions Ombudsman (TPO), TPO decided that a professional trustee of a small self-administered scheme (SSAS) was liable for 80% of the losses arising from high-risk investments on the basis that insufficient due diligence was conducted on these investments.
Read moreMoney Covered: The Week That Was – 17 April 2026
Welcome to The Week That Was on 17 April 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreRegulatory Pulse - 14 April 2026
The biggest news this edition has been the Court of Appeal's reversal of Mazur. Without getting into the history of the case and the detail of the decision, what are the main takeaways?
Read moreMoney Covered: The Week That Was – 10 April 2026
Welcome to The Week That Was on 10 April 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 2 April 2026
Welcome to The Week That Was on 2 April 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreTPR publishes guidance for trustees dealing with Virgin Media issues – a practical approach
The Pensions Regulator (TPR) has published guidance for trustees to address historic pension scheme alterations impacted by the decision in Virgin Media Ltd v NTL Pension Trustees II Ltd & Ors [2024] EWCA Civ 843. Schemes can now resolve any uncertainty by obtaining retrospective actuarial confirmation in respect of past alterations impacted by the judgment (alterations lacking actuarial confirmation or evidence of the same), as permitted by the Pension Schemes Bill.
Read moreFRC Annual Plan and Budget 2026/2027 – the FRC's plans for the next 12 months
We are now in the second year of the FRC's three-year plan (for 2025-2028) and the FRC's Annual Plan notes that the FRC's "purpose and strategic objectives remain unchanged".
Read moreLawyers Covered - March 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our March 2026 edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreMoney Covered: The Week That Was – 27 March 2026
Welcome to The Week That Was on 27 March 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreFOS reform: clarity, consistency, and a 10-year cut-off
The Government has announced a package of reforms to the Financial Ombudsman Service aimed at improving the speed, predictability, and consistency of complaint resolution.
Read moreFCA to progress its review of Model Portfolio Service (MPS) firms this year
On 4 March 2026, the Financial Conduct Authority (FCA) published its annual Regulatory Priority report for consumer investments and confirmed that it will progress its review of Model Portfolio Service (MPS) firms in 2026 as part of its regulatory priorities.
Read moreMoney Covered: The Week That Was – 20 March 2026
Welcome to The Week That Was on 12 December 2025, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 13 March 2026
Welcome to Money Covered: The Week That Was on 13 March 2026. Keep informed with our round-up of key events in the financial services sector over the last seven days.
Read moreRegulatory Pulse - 11 March 2026
The seismic Mazur decision concerning the activities which non-solicitors may lawfully perform in litigation reached the Court of Appeal in February. At stake is the ability of firms lawfully to staff matters with legal executives and paralegals under the supervision of a solicitor (or other authorised or exempt person), with the economies and cost savings which that entails, not to mention the careers of those affected. Across three days of submissions, CILEx argued in favour of a less restrictive interpretation of the rules, with the SRA and Law Society taking the opposing position.
Read moreLawyers’ liability, when is a claim "brought" and limitation traps - Lukins v Quality Part X Ltd
The decision in Lukins v Quality Part X Ltd Ravensale Ltd [2026] EWHC 301 (KB) is a stark illustration of how procedural missteps around electronic filing can expose solicitors to lost litigation claims.
Read moreSetting priorities – the FCA publishes its areas of focus for consumer investments in 2026
This week, the FCA published its Regulatory Priorities for Consumer Investments. The intention is that these publications will be published annually and replace portfolio letters. This serves as a useful summary of what the FCA's been doing and its intentions for the near future.
Read moreMoney Covered: The Week That Was – 6 March 2026
Welcome to The Week That Was on Money Covered: The Week That Was – 6 March 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 27 February 2026
Welcome to The Week That Was on 27 February 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreLawyers Covered - February 2026
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to our February 2026 Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreAppointed Representatives: Treasury proposes a new regulatory framework and extension of FOS' jurisdiction
On 12 February 2026, HM Treasury opened a consultation setting out its proposals for reforming the Appointed Representative (AR) regime (the Proposals). Should the Treasury proceed with implementing the Proposals, firms will require a new FCA permission to appoint ARs if they do not already have them. There will also be an extension of FOS' jurisdiction to deal with complaints against ARs for acts and omissions which fall outside the regulated activities for which the principal has accepted responsibility.
Read moreMoney Covered: The Week That Was – 20 February 2026
Welcome to The Week That Was on 20 February 2026, a round-up of key events in the financial services sector over the last seven days.
Read moreKeeping systems in check: pensions administrator liable for errors in automated system
The Pensions Ombudsman (TPO) has recently determined that pensions administrators can be held liable for errors made by an automated system. The recent decision (CAS-90501-T3V1) following a complaint by Mrs K against her employer (the NHS) and the pensions administrator (the NHS Business Servies Authority (NHS BSA)), saw TPO find that NHS BSA were liable for inaccurate pensions estimates provided to Mrs K by her employer, who had utilised the NHS BSA's automated system to prepare the estimate.
Read moreFRC issues guidance for actuaries to deal with Virgin Media issues
The Financial Reporting Council (FRC) has issued practical, non-prescriptive guidance to actuaries tasked with reviewing historic pension scheme alterations impacted by the decision in Virgin Media Ltd v NTL Pension Trustees II Ltd & Ors [2024] EWCA Civ 843.
Read moreUpdated FRC guidance increases expectations on directors
The Financial Reporting Council (FRC) has issued updated guidance on the application of the strategic report requirements introduced into The Companies Act 2006 by 'The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013' (the Guidance). The strategic report provides information for shareholders to assist with assessing how the directors have performed their duty to promote the success of the company. The Guidance places increased requirements on directors and sets out how directors' performance of their duty to promote the success of their company is to be assessed.
Read moreMoney Covered: The Week That Was – 13 February 2026
Welcome to The Week That Was on 13 February 2026, a round-up of key events in the financial services sector over the last seven days.
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