<p>Filter Knowledge</p>

Travers Smith LLP is delighted to announce that Natalie Lewis, a partner in the firm's award-winning Financial Services & Markets department, has been named as a Rising Star of European Finance 2025 by Financial News. The list recognises the most talented individuals under the age of 40 working in financial and professional services. 

Travers Smith has advised InvestAcc Group, a leading UK specialist pension administrator, on its acquisition of AJ Bell's Platinum SIPP and SSAS business, the pension administration client books which form part of the AJ Bell non-platform business.

Travers Smith has advised long-standing client Brooks Macdonald Group plc, a leading provider of wealth management services in the UK, on its move from AIM to the Equity Shares (Commercial Companies) Category of the Official List of the Financial Conduct Authority (FCA) and to trading on the Main Market of the London Stock Exchange.

On 25 March 2025, the UK Financial Conduct Authority published a feedback statement (FS25/2) responding to its earlier call for input on reviewing FCA requirements following the introduction of the Consumer Duty in July 2024 (the Feedback Statement). On the same day, the FCA also published its high-level five-year strategy setting out its key strategic priorities until 2030 (the Strategy Document).

Travers Smith has advised Equisoft Inc. on the sale of Altus Consulting, its UK insurance, investments and financial services advisory services business, to Accenture. 

On 5 March 2025, the UK Financial Conduct Authority published a report (the Report) containing observations and feedback from its Private Market Valuation Review (PMVR).  This had been trailed during the previous week in the FCA's Asset Management and Alternatives Supervisory Strategy letter as a key FCA supervisory priority for 2025.

Travers Smith LLP has advised Brookfield Oaktree Wealth Solutions on the establishment and launch of its semi-liquid strategic credit fund, Oaktree Strategic Credit Fund (SICAV), under its existing Luxembourg UCI Part II umbrella structure. 

Travers Smith LLP advised longstanding client Nest Corporation – the trustee of the National Employment Savings Trust – on the acquisition of a ten percent shareholding in Industry Super Holdings, the holding company of IFM Investors, a global institutional investor and asset manager operating across the infrastructure, debt investments and private equity markets. 

In its recent judgment in HMRC v BlueCrest Capital Management (UK) LLP, the Court of Appeal has overturned the decisions of the lower tribunals and supported HMRC's narrow interpretation of "significant influence".  In doing so, the Court introduced a new focus on the source of a member's influence, holding that the only influence that counts is that derived from legal rights and duties. In addition, the Court appeared to support HMRC's view that the scope of significant influence is limited to strategic influence over the affairs of the LLP generally.

Our New Year briefing, which discusses key developments for financial services firms in 2025, is available as a pdf below.

Travers Smith LLP announces the promotion of one lawyer to Director, and three lawyers to Senior Counsel. All promotions are effective from 1 January 2025.

An Australian court has held that bitcoin is personal property, in a way that highlights our concern that the Law Commission's Property (Digital Assets etc) Bill (the Bill), presently going through Parliament, will create an unhelpful "fork" in the international legal treatment of cryptoassets.

The Chancellor's Mansion House speech on 14 November 2024 was almost as hotly-anticipated as her Budget, with the speech's proposals on pension fund consolidation as extensively trailed in advance as the Budget's tax increases.

The FCA has published some key findings on non-financial misconduct, including action points for firms. Although the survey was aimed at wholesale firms, the key findings report (Report) sets out some actions that firms should take in order to address non-financial misconduct.

Travers Smith LLP has advised long-standing client Phoenix Equity Partners and management on the sale of Redington, the independent institutional investment consultant, to Arthur J. Gallagher & Co.

Welcome to the third edition of the Travers Smith Outsourcing Spotlight. In this issue, we look at the impact on outsourcing of the new Labour Government's employment reforms and the Digital Markets, Competition and Consumers Act 2024.  We also discuss a range of other topics including artificial intelligence, smart contracts and a recent Supreme Court decision on force majeure clauses.

The Financial Conduct Authority (FCA) has published the results of its multi-firm review on how firms treat politically exposed persons (PEPs) when carrying out anti-money laundering checks.

Welcome to the seventh episode in our series of podcasts exploring the key legal issues relating to the development and use of artificial intelligence.

Travers Smith LLP has advised Carlyle on the successful launch of Carlyle AlpInvest Private Markets SICAV-UCI Part II ("CAPM").