Corporate Crime & Compliance UK

FCA's New Crypto Rules Could Pave The Way For Bad Actors

The Financial Conduct Authority's new proposed crypto regulatory regime risks increasing consumers' exposure to fraud, terrorist funding and malign state institutions, with the watchdog powerless in practice to do much to stop it, lawyers have warned.

Nationwide's £44M AML Fine Signals FCA's 'Hard Line' Stance

The Financial Conduct Authority's fine of £44 million ($58 million) imposed on Nationwide Building Society for failings in anti-money laundering controls has sent a warning to Britain's largest financial institutions that size and reputation are no protection from the rules, lawyers have said.

FCA Misconduct Update Still Leaves Firms 'In The Dark'

Clarity from the Financial Conduct Authority on the limits of its powers to tackle bullying and harassment will come as a relief to professionals — but lawyers have warned that non-banking companies must now join lenders to broaden staff training, revisit conduct policies and strengthen whistleblowing protocols.

Dropping Juries Will Upend Defense Lawyers' Strategies

The government's decision to drop jury trials for some criminal cases that involve complex financial crime could reshape the approach of lawyers to plea decisions, appeals and advocacy, as well as prompt a shift toward more open justice, experts say.

December 18, 2025
Michelle Mone-Linked Biz Wound Up After £122M Judgment

A London court on Thursday wound up a medical equipment company linked to Conservative peer Michelle Mone, just over two months after it was ordered to repay the government £122 million ($163 million) for supplying unsafe surgical gowns during the COVID-19 pandemic.
December 18, 2025
Denmark Files To Appeal £1.4B Cum-Ex Fraud Case Defeat

Denmark has launched its effort to revive its £1.4 billion ($1.8 billion) case over a tax fraud allegedly orchestrated by convicted hedge fund trader Sanjay Shah, according to court filings seen by Law360 Thursday.
December 18, 2025
HMRC Wins Burden Of Proof Query In £54M Tax Fraud Case

A London appeals court ruled Thursday that HM Revenue & Customs doesn't bear the burden of proof in its tax liability claim against a British businessman it alleges used a company to commit alcohol smuggling and tax evasion of over £54 million ($72.2 million), plus penalties.
December 18, 2025
EuroChem Can't Ax Order To End Tecnimont Russian Litigation

EuroChem failed on Thursday to overturn an order for it to end legal proceedings in Russia brought against Italian industrial group Tecnimont SpA — including a judgment award worth more than $2 billion — in breach of an English arbitration agreement.
December 18, 2025
Meet The Lawyers Tapped To Defend In Entain Bribery Case

Eleven gambling managers and employees, including former top executives at Ladbrokes and Coral owner Entain PLC, have enlisted veteran defense counsel and some of the country's most experienced trial solicitors and barristers to defend themselves against the Crown Prosecution Service's bribery and fraud charges.
December 18, 2025
SFO Can Seize £928K From Ex-Adviser Over Legal Fund Fraud

The Serious Fraud Office got the go-ahead on Thursday to seize almost £1 million ($1.3 million) from a former financial adviser convicted of siphoning £5.8 million in covert commission payments from a legal financing fund.
December 18, 2025
Justices Dismiss 'Weak' £2.7B FX Claim Against Major Banks

The U.K. Supreme Court held Thursday that the merits of a £2.7 billion ($3.6 billion) foreign exchange rigging opt-out collective action against major banks are "weak" and that it should not have been allowed to continue.
December 17, 2025
Ex-Goldman Banker Can't Dodge Ghana Bribery Charges

A New York federal judge on Wednesday shot down a former Goldman Sachs banker's bid to escape charges over a purported scheme to bribe Ghanaian officials to greenlight a power plant deal, rejecting defense claims of improper sealing and speedy trial violations.
December 17, 2025
Former Postmistresses Sue Post Office Over IT Scandal

Two former subpostmistresses have sued the Post Office Ltd. for compensation over their wrongful convictions during the Horizon information technology scandal.
December 17, 2025
Trio Face 2028 Trial In Director Disqualification Order Case

Three people heard at a London court Wednesday that they will have to wait until 2028 to stand trial for charges of working together to breach court orders for one of them not to act as a company director.
December 17, 2025
BHP Hit With £189M Legal Costs Bill Over Dam Collapse Case

Lawyers for more than 640,000 individuals argued at court Wednesday that BHP should pay out £189 million ($254 million) of their legal costs after the mining giant was found liable for a dam collapse that triggered Brazil's worst environmental disaster.
December 17, 2025
UK Demands Abramovich Give £2.5B To Ukraine Or Risk Court

The government said Wednesday that Russian billionaire Roman Abramovich must transfer more than £2.5 billion ($3.3 billion) from the 2022 sale of Chelsea Football Club to fund humanitarian efforts in Ukraine, or it will pursue legal action.
December 17, 2025
Financiers Sentenced To 11 Years Over Libyan Fund Fraud

A former U.K. fund manager and a Swiss banker were sentenced to a collective 11 years' imprisonment in their absence at a London court on Wednesday for diverting millions of dollars in improper fees from a Libyan sovereign wealth fund.
December 17, 2025
Funds Dropping ESG Labels Amid EU Greenwashing Review

The European Union's financial markets regulator said Wednesday its new naming guidelines governing how investment funds use environmental, social and governance, and sustainability-related language are curbing greenwashing and improving transparency in the financial sector.
December 17, 2025
UK Watchdog Hands Gov't Plan To Tackle Payments Crime

The Financial Conduct Authority told the Treasury in a letter published Wednesday that it is investing more in intelligence and data to disrupt those committing and enabling crime in the payments sector.
December 17, 2025
Gill Bribery Case Spurs Foreign Political Interference Probe

The U.K. government has announced a new review into foreign interference in domestic politics following the high-profile conviction of the former Welsh leader of Reform UK Nathan Gill for accepting bribes to promote the Kremlin's interests and the unrelated case of lawyer Christine Lee.
December 16, 2025
Visa, Mastercard Say Merchants Too Late To Join Class Action

Visa and Mastercard told Britain's antitrust tribunal Tuesday that a number of merchants should not be allowed to join collective proceedings accusing them of unfairly imposing interchange fees on retailers after the deadline to opt in.
December 16, 2025
Diamond Dealer Modi's New Extradition Challenge Delayed

The latest bid by Nirav Modi to block his extradition over an alleged $2 billion fraud was delayed on Tuesday as a judicial panel said that procedural issues in the litigation meant that the diamond dealer's renewed attempt could not go ahead.
December 16, 2025
5 Questions For Clyde & Co.'s James Roberts

James Roberts' father was a Red Arrows pilot, but the Clyde & Co. LLP team leader says that he wanted a career for himself that was more down to earth, particularly given his fear of heights. Roberts has instead climbed to head up the professional practices group of the law firm.
December 16, 2025
Financiers Convicted Of Defrauding Libyan Sovereign Fund

A former U.K. fund manager and a Swiss banker have been convicted by a jury of fraud for diverting millions of dollars in improper fees from a Libyan sovereign wealth fund, prosecutors said Tuesday.
December 16, 2025
London Gallery Faces Trial In 2028 Over Sanctions Breach

A London art gallery and a logistics company will face trial in 2028 for allegedly providing a contemporary painting to a collector in breach of Britain's ban on making luxury goods available to individuals connected to Russia, a judge said Tuesday.
December 15, 2025
UK Trader Couldn't Have Known Of VAT Fraud, Court Says

Despite its "cavalier approach to due diligence," a scrap metal trader in the U.K. couldn't have known its suppliers were engaged in value-added tax fraud, so it isn't liable for additional tax and penalties, the First-tier Tribunal Tax Chamber said in a decision.
December 15, 2025
FCA Prioritizes Consumer Protection In Planned Crypto Rules

The Financial Conduct Authority proposed Tuesday to sweep in a tough new set of rules to protect consumers who trade crypto-assets while also supporting innovation and global competitiveness.
December 15, 2025
MPs Launch Inquiry Into Large Business Tax Compliance

HM Revenue & Customs is facing an inquiry over its handling of tax compliance among large businesses, a parliamentary committee announced.
December 15, 2025
Briton Faces Second South African Bribery Extradition Trial

A British businessman wanted in South Africa in connection with an alleged £36 million ($48.1 million) government bribery scandal began a renewed fight in a London court Monday over whether he should be extradited to South Africa to face trial.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

Freezing Orders Maintain Their Impact 50 Years On

Freezing orders, created in Mareva v. International Bulk Carriers 50 years ago, are now a fundamental part of English and Welsh law and a significant weapon in the litigator's armory, considered indispensable by practitioners seeking to obtain enforceable judgments and interlocutory relief on behalf of their clients, say lawyers at Trowers and Hamlins.
Decoding Arbitral Disputes: A Paris Ruling Defines Key Limits

Though French arbitration law is highly supportive of arbitral autonomy, last week's Paris Court of Appeal judgment annulling a $14.9 billion arbitral award against Malaysia reaffirms that such support is neither unqualified nor blind to defects striking at the very legitimacy of the arbitral process, says Josep Galvez at 4-5 Gray's Inn.
EU Businesses Face Uncertainty Amid Sustainability Reforms

The European Commission’s sustainability omnibus, due to be approved this month, has brought a year of regulatory upheaval for European businesses, and although the long-awaited scaled-back obligations will provide clarity, a balance between not overburdening reporting companies and the need for data to make sustainable investments must be found, say lawyers at Peters & Peters.
SFO Compliance Guide Highlights Early Remediation Is Key

The Serious Fraud Office’s first external guidance on evaluating corporate compliance programs serves as an important reminder to organizations to keep their compliance measures under close review from the earliest stages of an internal investigation to mitigate the risk of ongoing and future misconduct, says Tom Grodecki at Cadwalader.
How Russia Sanctions Trajectory Is Affecting UK Legal Sector

The proliferation of U.K. and European Union sanctions targeting Russia has led to a vast increase in legislative provisions, and lawyers advising affected businesses should expect a complex and evolving legal landscape for the foreseeable future, says Rob Dalling at Jenner & Block.
EU's AI Omnibus Proposal Offers 10 Key Changes For Cos.

The European Commission’s recent proposal for an artificial intelligence digital omnibus aims to ease compliance burdens by extending timelines and increasing flexibility, bringing relief for midcaps and small and midsize enterprises, while enhanced cooperation requirements for regulators should reduce administrative duties for businesses, say lawyers at Cooley.
Tracking Crypto-Asset Tax Rules In 2025 And Beyond

The past year has seen an increasing amount of regulation in the crypto-asset space, with a range of novel and complex taxation challenges for regulators, and taxpayers can expect a marked increase in HM Revenue & Customs' compliance activity in the year ahead, says Liam McKay at RPC.
2025 UK Merger Reforms Simplify Path For Deals

Dealmakers should laud the 2025 reforms in the U.K. merger control and investment screening landscape, as the Competition and Markets Authority’s renewed focus on economic growth — and on implementing more flexible, streamlined and hands-off procedures — makes planning transactions a more predictable process, say lawyers at Akin Gump.
Train Ticket Class Action Shows Limits Of Competition Law

The Competition Appeal Tribunal's recent judgment in Gutmann v. London & Southeastern Railway, Govia Thameslink Railway and First MTR South Western Trains Ltd. restates the important principle that a high bar is required to demonstrate an abuse of dominance, providing welcome clarification for consumer-facing businesses that competition law is not intended to serve as a general vehicle for consumer protection, say lawyers at Freshfields.
Navigating Legal Privilege Issues When Using AI

The recent explosion in artificial intelligence has led to prompts and AI outputs that may be susceptible to disclosure in proceedings, and it is important to apply familiar principles to assess whether legal privilege may apply to these interactions, say lawyers at HSF.
A Look At Factors Affecting Ombudsman Complaint Trends

Lawyers at Womble Bond provide an analysis of the Financial Ombudsman Service's complaint trends in 2025, highlighting the impact of changes within the FOS and external factors on the financial sector's redress system.
What To Know About FCA's Short Selling Regime Proposals

Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.
CMA's Leniency Guide May Change Self-Report Calculus

The Competition and Markets Authority's updated leniency guide introduces significant changes to bolster cartel enforcement, with incentives to early self-report that will be welcomed by businesses, but the weighty specter of potential class actions could greatly outweigh the discount on administrative fines, say lawyers at Cooley.
Why EU's FDI Screening Proposals Require Careful Balance

The European Commission’s proposals to harmonize EU foreign direct investment screening regimes at the member state level require a trilogue between the commission, Parliament and council, which means political tensions need to be resolved in order to reach agreement on the five key reforms, say lawyers at Arnold & Porter.
Fashion Giants' €157M Fine Shows Price-Fixing Not In Vogue

The European Commission’s recent substantial fining of fashion houses Gucci, Chloé and Loewe for resale price maintenance in a distribution agreement demonstrates that a wide range of activities is considered illegal, and that enforcement under EU competition law remains a priority, says Matthew Hall at McGuireWoods.