Corporate Crime & Compliance UK

  • March 12, 2024

    'Clearer Than Ever' That Wright Is Not Satoshi, Developers Say

    Lawyers for developers seeking to prove that Craig Wright is not the pseudonymous inventor of bitcoin told the High Court that it is "clearer than ever" that the Australian computer scientist is not Satoshi Nakamoto in closing arguments on Tuesday.

  • March 12, 2024

    Gov't To Give Banks More Time To Investigate Payment Fraud

    HM Treasury on Tuesday published draft legislation giving banks more time to investigate suspected fraud on payments, giving them a better chance of stopping thieves.

  • March 12, 2024

    SFO Arrests 3 In £76M Luxury Care Home Fraud Probe

    The Serious Fraud Office arrested three people on Tuesday in an investigation into an alleged £76 million ($97 million) fraud over the collapse of a luxury care home provider that left elderly residents homeless and 600 investors out of pocket.

  • March 12, 2024

    FCA's New Greenwashing Rules Lack Clarity, City Firms Warn

    City firms are pressing the Financial Conduct Authority to revise the draft guidance for its new anti-greenwashing rules to clear up critical ambiguities as they seek greater clarity on how broadly it will be applied.

  • March 11, 2024

    Whistleblower Forced To Quit After Questioning CEO's CV

    A chief operating officer at a charity was forced to resign after senior figures said his whistleblowing claims about the new chief executive's CV had ruined their trust in him, an employment tribunal has ruled.

  • March 11, 2024

    Santander Whistleblower Loses Bid To Revive Claim

    An appellate tribunal has rejected a bid by a former financial crime policy manager at Santander to revive her whistleblowing and discrimination claims against the bank, ruling a fair trial was not possible because she failed to exchange witness statements.

  • March 11, 2024

    £237M Ponzi Case Doesn't Stack Up, Ex-LC&F Director Says

    A former director of London Capital & Finance told a trial over the £237 million ($304 million) investment scandal on Monday that he did not take part in the alleged Ponzi scheme.

  • March 11, 2024

    New Treasury Review Of AML Rules To Cast Wide Net

    The U.K. Treasury said Monday that a new review on the effectiveness of anti-money laundering regulations will have a broad scope, encompassing more than 100,000 businesses, including law firms.

  • March 11, 2024

    MPs To Hear From Administrators In Norton Pension Scandal

    A parliamentary committee said Monday that it will weigh whether victims of pension fraud can receive compensation faster as the first part of its probe into the retirement savings scandal at Norton Motorcycle Co.  

  • March 11, 2024

    Danish Prosecutors Open Tax Fraud Trial Against Sanjay Shah

    Prosecutors in Denmark opened the criminal trial on Monday of a British hedge fund trader accused of masterminding a £1.44 billion ($1.85 billion) tax fraud scheme. 

  • March 11, 2024

    FCA Ends Eight-Year Probe Into Former Mobile App Co. Execs

    The Financial Conduct Authority has ended its civil court proceedings against two former executives of Globo, nine years after the mobile software developer fell into administration amid allegations of accounting fraud.

  • March 11, 2024

    Dentons Defeats SRA Over AML Checks On PEP Client

    A London tribunal confirmed on Monday that it has dismissed the Solicitors Regulation Authority's action against the U.K. arm of Dentons over the firm's handling of anti-money laundering checks on a politically exposed former client.

  • March 11, 2024

    FCA Fines British Steel Pensions Firm, Bans Advisers

    The finance watchdog said Monday that it has hit a financial advice company with a fine and banned two former employees after discovering failures by the business when it put through £90 million ($115 million) of retirement savings transfers for members of the British Steel Pension Scheme.

  • March 08, 2024

    UK Enforcers To Appeal Nixed £100M Hydrocortisone Fine

    Britain's competition enforcer is planning to appeal a tribunal's ruling that upended more than £100 million ($128.6 million) in fines against several drug companies for allegedly reaching agreements that increased the price of hydrocortisone tablets.

  • March 08, 2024

    News Outlet Defends Article About Ex-Kazakh Leader's Assets

    The Bureau of Investigative Journalism has denied publishing defamatory articles suggesting Jusan Technologies Ltd. was set up as a corrupt vehicle for the ex-president of Kazakhstan to control his $7.8 billion business empire, claiming it was in the public interest to report on.

  • March 08, 2024

    FCA To Boost Fight Against Nonfinancial Misconduct

    The Financial Conduct Authority said Friday it would ramp up its fight against bullying and sexual harassment in the financial services sector in light of a damning parliamentary report condemning efforts to tackle sexism in the financial services sector.

  • March 08, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Barclays initiate legal proceedings against top Russian private bank JSC Alfa-Bank; Lex Greensill, founder of the collapsed Greensill Capital, suing the U.K.'s Department for Business and Trade; Wikipedia's parent company hit with a libel claim; and a sports journalism teacher filing a data protection claim against Manchester United FC. Here, Law360 looks at these and other new claims in the U.K.

  • March 08, 2024

    Saudi Bribery Trial Defense Wins After Failed Dismissal Bids

    The defense strategy employed by two British men, who were acquitted of bribing Saudi officials in a significant arms deal, finally succeeded when they argued at trial that the government was complicit in the corruption — but only after they lost two earlier bids to throw out the case.

  • March 08, 2024

    Shell Ordered To Disclose Docs In Nigerian Oil Spill Case

    Shell PLC was ordered by a judge on Friday to disclose documents concerning its potential liability for oil spills that are the subject of claims from thousands of Nigerian citizens suing the fossil fuel giant over the consequences of the pollution.

  • March 08, 2024

    Azeri Tycoon Can't Shift Freeze On £50M UK Property Empire

    A High Court Judge refused Friday to lift a freeze on a £50 million ($64 million) London property empire belonging to an Azeri tycoon and politician allegedly purchased with illicit cash while U.K. law enforcers plan their next move.

  • March 08, 2024

    GPT Whistleblower Sues MoD Over Saudi Bribery Scandal

    A whistleblower in a Saudi bribery case is suing the Ministry of Defence for allegedly leaving him exposed to threats of jail in Riyadh after he revealed corrupt payments worth millions from a British defense company to Saudi officials, his lawyers announced Friday.

  • March 08, 2024

    'Aggressive' Cold-Calling Firm Shut For Targeting Pensioners

    A company that used "aggressive techniques" when selling unnecessary home service and maintenance plans to vulnerable pensioners has been wound up for targeting and misleading elderly customers.

  • March 07, 2024

    Property Lawyer To Face Tribunal Over Money Handling

    The Solicitors Regulation Authority has said a law firm director must face a disciplinary tribunal after it accused him of allowing his firm's client account to be used as a banking facility and claimed he made a personal loan to a client.

  • March 07, 2024

    Dentons Says It Was Not Required To Refuse PEP Client

    The U.K. arm of Dentons argued at tribunal Thursday that it had done enough to establish how an ex-client had earned his wealth, saying it was not required to refuse service because his home country had a higher risk of corruption and money laundering.

  • March 07, 2024

    UK Launches Case To Disqualify Lex Greensill As A Director

    The U.K. government said Thursday that it is seeking to disqualify Lex Greensill, the founder of collapsed finance company Greensill Capital, from running another company for 15 years.

Expert Analysis

  • Technology And AI: 2024's Legal And Regulatory Landscape

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    Alexander Amato-Cravero at Herbert Smith discusses what businesses and their lawyers can expect in the year ahead in terms of regulation, policies and associated risks related to advancing technologies and artificial intelligence, including the need for increased internal governance and workforce engagement.

  • A Look At 2023's Landmark Insolvency Developments

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    The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.

  • EU And US Artificial Intelligence Regs: Comparing Key Points

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    With divergent approaches to artificial intelligence regulation in the EU and U.S. making it challenging for companies to navigate the global landscape, it is wise to adopt a proactive compliance approach and begin mapping upcoming obligations in each jurisdiction, say lawyers at Steptoe.

  • 5 Key UK Employment Law Developments From 2023

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    Key employment law issues in 2023 suggest that topics such as trade union recognition for collective bargaining in the gig economy, industrial action and menopause discrimination will be at the top of the agenda for employers and employees in 2024, say Merrill April and Anaya Price at CM Murray.

  • Looking Ahead At AI Regulation In The EU And UK

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    With AI regulation agreed upon in Europe and a U.K. regulatory authority on the horizon, organizations developing AI should consider deploying governance, addressing accountability and establishing internal guardrails to achieve a balanced approach to responsible innovation while managing risk, says Chris Eastham at Fieldfisher.

  • What 2024 Has In Store For White Collar Crime Enforcement

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    Changes in Serious Fraud Office leadership and corporate crime laws in the U.K. signal a chance to kickstart enforcement in 2024, and companies need to stay alive to risks within their business, preparing in particular for the new offense of failure to prevent fraud, say lawyers at Latham.

  • Emerging Trends From A Busy Climate Litigation Year

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    Although many environmental cases brought in the U.K. were unsuccessful in 2023, they arguably clarified several relevant issues, such as climate rights, director and trustee obligations, and the extent to which claimants can hold the government accountable, illustrating what 2024 may have in store for climate litigation, say Simon Bishop and Patrick Kenny at Hausfeld.

  • Key 2024 Arbitration Trends In A Changing World

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    As key sectors such as ESG and the global mining and commodities market will continue to generate more arbitration in 2024, procedural developments in arbitral law will both guide future arbitration proceedings and provide helpful lessons on confidentiality, disclosure and professional duty, say Louise Woods and Elena Guillet at V&E.

  • How Businesses Can Prepare For Cyber Resilience In 2024

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    With cybersecurity breaches one of the biggest threats to U.K. businesses and as legislation tightens, organizations should prioritize their external security measures in 2024 and mitigate risks by being well-informed on internal data protection procedures, says Kevin Modiri at Nelsons.

  • Regulating Digital Platforms: What's Changing In EU And UK

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    Lawyers at Mayer Brown assess the status of recently enacted EU and U.K. antitrust regulation governing gatekeeper platforms, noting that the effects are already being felt, and that companies will need to avoid anti-competitive self-preferencing and ensure a higher degree of interoperability than has been required to date.

  • Dyson Decision Highlights Post-Brexit Forum Challenges

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    The High Court's recent decision in Limbu v. Dyson, barring the advancement of group supply chain claims against Dyson subsidiaries in the U.K. and Malaysia, suggests that, following Brexit, claims concerning events abroad may less frequently proceed to trial in England, say lawyers at Debevoise.

  • How Boards Can Mitigate Privacy, Cybersecurity And AI Risks

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    In 2023, data privacy, cybersecurity and AI persist as prominent C-suite concerns as regulators stepped up enforcement, and organizations must develop a plan for handling these risks, in particular those with a global footprint, say lawyers at Latham.

  • The Outlook For UK Restructuring Plans At Home And Abroad

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    The U.K. continues to be a center for large-cap, cross-border restructurings, though its competitive edge over the EU in this regard may narrow, while small and medium-sized enterprises are already likely to avoid costly formal processes by reaching out to their secured lenders for restructuring solutions, say Paul Keddie and Timothy Bromley-White at Macfarlanes.

  • Best Legal Practices For The Holiday Party Season

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    With the holiday party season in full swing, two recent Solicitors Regulation Authority decisions serve as a useful reminder to both individuals and firms of the potential employment and regulatory consequences when misconduct is alleged to have occurred at a work event, say lawyers at CM Murray.

  • Insights For Cos. As Sustainability Reporting Goal Posts Shift

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    The European Commission’s recent measures proposing relief in sustainability reporting for small- and medium-sized enterprises mean that many businesses already preparing to comply with the Corporate Sustainability Reporting Directive will find they are still on the right path, say Sarah-Jane Denton and Alexandra Macbean at Travers Smith.

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