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Corporate Crime & Compliance UK
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April 17, 2025
Worker Wins 2nd Shot At Claim Over Vetting Concerns
A systems designer can have a second shot at arguing that she wasn't hired by a digital services consultancy because she questioned its vetting practices, after an appeals tribunal said Thursday that she made whistleblowing claims.
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April 17, 2025
SFO Arrests Another Suspect In Timeshare Fraud Probe
The Serious Fraud Office said Thursday that it has arrested another man in its ongoing investigation into an organized criminal group suspected of conning hundreds of people out of holiday timeshares through high-pressure sales tactics.
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April 17, 2025
SFO Charges UK Insurance Broker With Bribery In Ecuador
The Serious Fraud Office said Thursday it has charged a Lloyd's of London broker with bribery, alleging that it failed to prevent a U.S.-based intermediary from making corrupt payments in Ecuador in order to secure contracts worth $38 million.
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April 16, 2025
Russia-Owned Lessor Denies Qatar Airways' $155M Jets Claim
A Russian state-owned aircraft leasing company has fired back at a $155 million counterclaim in a dispute with Qatar Airways Group over aircraft that were grounded after Russia's invasion of Ukraine, denying that it caused the airline losses.
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April 16, 2025
Austrian Exec Can't Take Extradition Fight To UK Top Court
An Austrian banker wanted in the U.S. over a major Brazilian corruption scandal could be extradited after a London judge blocked his path to appeal to the U.K.'s highest court, prosecutors said.
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April 16, 2025
FCA Proposes Data Reporting Cuts For 16,000 Firms
The Financial Conduct Authority proposed Wednesday to remove unnecessary data reporting for firms, in an effort to support U.K. economic growth.
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April 16, 2025
NHS Practice Manager Gets 7-Year Ban For Pension Failings
A former practice manager at an NHS surgery who did not pay more than £75,000 ($99,330) into the pension funds of staff has been banned from starting a new company for seven years over the failings, a government agency has said.
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April 16, 2025
Law Firm Fined For Failing To Shield Client Data From Hack
The U.K. privacy watchdog said Wednesday that it has fined an English law firm £60,000 ($79,465) for failing to put in place proper measures to protect its clients' personal information after the firm suffered a cyberattack in 2022.
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April 16, 2025
Google Faces £5B UK Class Action Over Search Ads
A group of U.K. businesses said Wednesday that they are suing Google for more than £5 billion ($6.6 billion), alleging that the technology giant has abused its monopoly in the search engine market by overcharging them for placement in its search results.
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April 16, 2025
Uber Hacker Fights For Freedom Over Evidence Ruling
Lawyers for a man detained as a teenager for hacking companies including Uber and Rockstar Games urged an English appeals court to overturn the jury findings on Wednesday, arguing that his previous convictions should not have been admitted.
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April 16, 2025
EY Under Investigation Over UK Post Office Audits
The accounting watchdog said Wednesday that it has started an investigation into Ernst & Young LLP as auditor of the Post Office over financial shortfalls registered by postmasters around the country.
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April 15, 2025
7 Arrested In France In €3.4M Cross-Border VAT Fraud Case
The European Public Prosecutor's Office arrested seven people suspected of carrying out a value-added tax fraud scheme involving what it called valuable vehicles that resulted in at least €3.4 million ($3.8 million) in tax losses, the EPPO said Tuesday.
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April 15, 2025
Charity Worker Fights To Revive Fraud Whistleblowing Case
An ex-offender turned charity worker fought on Tuesday to revive his case that a non-profit had him recalled to prison for voicing financial misconduct allegations about the charity's founder, a former Bank of Tokyo-Mitsubishi lawyer.
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April 15, 2025
Questions Linger On UK Sanctions Enforcement Despite Win
British prosecutors recently won their first-ever case against a former politician for breaching Russian sanctions, but some experts question whether the authorities are picking simpler cases rather than prosecuting more complex, substantive breaches.
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April 15, 2025
Man Given 4 Years In Prison For Covid Loan Fraud
A man was sentenced Tuesday to four years imprisonment at an English criminal court for defrauding £710,000 ($938,000) from a local authority in business support loans during the COVID-19 lockdowns, prosecutors said.
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April 15, 2025
EU Still Open To Zero-Tariff US Deal, Trade Chief Says
The European Union remains open to a trade deal with the United States to reach zero tariffs on all goods between the country and the trade bloc, the EU trade commissioner said.
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April 15, 2025
Tribunal Judge Sanctioned Over Solicitor Restraint Incident
A retired magistrate has been sanctioned for misconduct for allowing a duty solicitor who was denied re-entry to a court to return without going through security, which led to him being restrained by security staff.
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April 15, 2025
FCA Accuses Director Of £1M Investor Fraud Scheme
The finance regulator said Tuesday that it was prosecuting the director of a trading advice company that it alleges made more than £1 million ($1.3 million) by misleading investors and operating an investment business without authorization.
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April 15, 2025
Ex-Fund Boss Loses Path To Fight $400M Ponzi Scheme Debt
The top appeals court for U.K. overseas territories refused on Tuesday to prevent liquidators from chasing a former hedge fund manager for a $400 million debt linked to a financier convicted of running a multibillion-dollar Ponzi scheme more than a decade ago.
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April 14, 2025
HMRC Lays Out Info Exchange Noncompliance Penalties
HM Revenue & Customs on Monday established the penalty structure for financial institutions that fail to comply with the U.K.'s regulations on automatic exchange of information, including monetary penalties for late filing and inaccurate reports.
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April 14, 2025
Ex-BGC Tax Adviser Admits Contempt In £23M Fraud Case
A former BGC Partners employee faces a potential jail sentence after admitting before a London judge Monday that he breached restrictions the court imposed after he committed a £23.5 million ($30.9 million) fraud against a subsidiary.
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April 14, 2025
Credit Suisse Ignored Greensill Risks, Softbank Tells Court
Softbank told the High Court Monday that Credit Suisse executives had "accepted the risks" that investors might not be paid at the time they agreed to cancel a trade with Greensill Capital in the lead-up to the finance firm's collapse.
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April 14, 2025
Bank Of Ireland Can't Nix Investor's £60M Fraud Claim
Bank of Ireland has lost a bid to block a £60 million ($79 million) case alleging it deceived a property investor into taking out a multimillion-pound loan, with a London judge refusing to rule that the claim was brought too late.
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April 14, 2025
EU Council Greenlights Delay To Sustainability Rules
The Council of the European Union said on Monday that it has formally approved a proposal that will temporarily delay the implementation of two flagship sustainability directives across the bloc.
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April 14, 2025
EY Hit With £325K Fine Over Audit Of Scottish Finance Biz
The accounting watchdog said Monday that it has hit Ernst & Young LLP with a fine of £325,000 ($430,000) and its engagement partner Christopher Voogd £32,000 for failings in the audit of Stirling Water Seafield Finance PLC.
Expert Analysis
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EU WhatsApp Deletion Fine Sends Clear Message
The recent European Commission fine of International Flavors & Fragrances — the first for the deletion of social media messages during a dawn raid — although halved as a result of IFF's cooperation, shows the commission's view on obstruction poses a real risk to companies under investigation, says Matthew Hall at McGuireWoods.
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Key Takeaways From Proposed EU Anticorruption Directive
The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.
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Implications Of EU Network Directive For Data Center Owners
With the October implementation deadline of the EU’s new cybersecurity regime under the Network Systems Directive fast approaching, data center owners and operators need to consider compliance steps, and U.K. companies providing services in the EU should take note, say lawyers at Bird & Bird.
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New EU Guidelines Provide Insights On Global AI Regulation
The European Data Protection Supervisor’s first guidelines on artificial intelligence only apply to governmental bodies, but together with the EU AI Act they demonstrate a strong and prescriptive policy, and offer a glimpse into what could be the next phase in world AI regulation, says Kevin Benedicto at Redgrave.
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Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.
The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.
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Keeping Up With Carbon Capture Policy In The US And EU
Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.
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How AI Treaty Will Further Global Governance Cooperation
The EU’s recently adopted treaty on artificial intelligence represents a significant step toward global cooperation in AI governance in emphasizing human rights obligations, although additional guidance and clarity would be beneficial to minimize varied interpretations at national level, say lawyers at Eversheds Sutherland.
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EU Investor-State Dispute Transparency Rules: Key Points
The European Union's recent vote to embrace greater transparency for investor-state arbitration will make managing newly public information more complex for all parties in a dispute — so it is important for stakeholders to understand the risks and opportunities involved, say Philip Hall, Tara Flores and Charles McKeon at Thorndon Partners.
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How Regulation Of Tech Providers Is Breaking New Ground
The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.
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Takeaways From EU's Initial Findings On Apple's App Store
A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.
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Why Trustees Should Take Note Of Charity Code Consultation
The Charity Governance Code Steering Group's recently launched governance code consultation is unlikely to result in a radical overhaul, but with the bigger issue being awareness and application by smaller underresourced charities, trustees should engage with the process to help shape the next iteration of this valuable tool, says Chris Priestley at Withers.
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What EU Net-Zero Act Will Mean For Tech Manufacturers
Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.
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Complying With EU Commission's Joint Purchasing Rules
One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Tips For Implementing EU Sustainability Reporting Guidance
Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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How CMA's AI Strategic Update Addresses Industry Risks
The Competition and Markets Authority’s recent artificial intelligence strategic update, setting out the regulator’s understanding of AI risks and how it intends to address them, is indicative of its focus on incumbent technology organizations, although future political developments in the U.K. may also shape the CMA's approach, say Christopher Foo and Carol Slattery at Ropes & Gray.