UK Corporate Crime & Compliance provides breaking news and analysis on enforcement and white collar crime in Europe. Coverage includes internal investigations, whistleblower rights, executive responsibility, tax evasion, criminal market abuse and insider dealing actions, anti-money laundering, bribery, corruption and sanctions enforcement.
The U.K.’s competition tribunal pumped the brakes Friday on a class certification bid against Daimler and other truck manufacturers accused of a price-fixing cartel, preferring to wait at least until the country’s high court decides whether to take up Mastercard’s appeal of a decision significantly lowering the certification bar.
A Manhattan federal judge on Friday approved a $182.5 million settlement between JPMorgan Chase & Co., Citigroup and investors who accuse the two megabanks of rigging a key euro rate, signing off also on a roughly $36 million haul for plaintiffs' firms that brought the antitrust class action.
This past week has seen a Kazakhstan lender file fraud claims against a dissolved London-based business, a Dubai airport security equipment company sue Barclays, and Yamaha's motorcycle business file claims against a German insurer. Here, Law360 looks at those and other new claims in the U.K.
The expansion of U.S. plaintiffs firms into Europe means that five major banks fined €1.07 billion ($1.2 billion) Thursday for rigging the multitrillion-dollar foreign exchange market may be about to face a wave of costly follow-on claims in the region.
Individuals and businesses that orchestrate or are involved in cyberattacks, including by providing financial support to the main plotters, will be hit with EU-wide sanctions such as travel bans or asset freezes under a new enforcement regime launched by the European Council on Friday.