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Corporate Crime & Compliance UK
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June 12, 2025
5 Questions For Howard Kennedy Partner Rebecca Hume
The U.K government is putting crypto-assets at the heart of its growth agenda, relying on the Financial Conduct Authority to shore up regulation of the sector.
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June 11, 2025
Gov't Pledges Up To £450M Per Year To Tackle Courts Backlog
The U.K. government has pledged up to an additional £450 million ($609 million) per year for the courts system in England and Wales by 2028-29 to boost crown court sittings to "record levels" and tackle the growing backlog, according to its spending review released Wednesday.
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June 11, 2025
UK Growth Push Puts FCA Enforcement On Unfamiliar Footing
The government's demand that regulators should prioritize growth is "largely incompatible" with their duty to deter misconduct, say lawyers who are warning clients not to interpret the political messaging as a green light to engage in risky behavior.
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June 11, 2025
EuroChem Fights Banks Over €212M Bonds In Sanctions Row
A Russian subsidiary of fertilizer producer EuroChem accused two European banks of using the pretext of sanctions imposed after the invasion of Ukraine to "never" pay out on €212 million ($244 million) in bonds, on the first day of a High Court trial Wednesday.
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June 11, 2025
SFO's Budget To Approach £100M In Spending Boost
The Serious Fraud Office will receive additional funding that will bring its budget near the £100 million ($136 million) mark in three years, the U.K. government pledged Wednesday — funds that the white-collar crime prosecutor will invest in its investigatory capabilities and technology.
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June 11, 2025
37% Of Romania Cos. Fall Short On EU Reporting Standard
Almost 40% of businesses filing public country-by-country reports in Romania are failing to fully comply with the European Union's reporting standard, according to a report by a nonprofit organization.
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June 11, 2025
UK's Top Court Limits Role Of Early Release In Extraditions
Britain's highest court ruled Wednesday that U.K. judges should attach little weight to other countries' prison early release programs when they decide whether to extradite inmates, saying that it would be "usurping" the role of overseas judges.
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June 11, 2025
War Risk Insurers Held Liable For Jets Stranded In Russia
Major insurers are liable to payout in a multibillion-dollar dispute over hundreds of aircraft stranded in Russia following the invasion of Ukraine in 2022, after a London judge ruled on Wednesday that the jets and engines are officially lost.
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June 10, 2025
Greensill Says He Was Trapped In Katerra Restructuring Deal
Lex Greensill said Tuesday that he was "between a rock and a hard place" in a restructuring deal involving his eponymous firm and SoftBank, a Japanese investment company, as the former banker gave evidence in a $440 million trial in London of a claim brought by a collapsed Credit Suisse fund.
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June 10, 2025
UK Treasury Committee Warns HMRC Over Phishing Attack
A British treasury committee warned HM Revenue & Customs in a letter published Tuesday that its failure to report details of a breach affecting around 100,000 taxpayers is unacceptable.
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June 10, 2025
Insolvency Service Hires Crypto-Specialist To Aid Recoveries
A U.K. government agency responsible for investigating company insolvencies has appointed its first crypto-specialist to help recover digital assets such as bitcoin for creditors.
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June 10, 2025
Lawyer Loses Bid To Ax 'Greedy' Label In $11B Ruling
A London appeals court refused Tuesday a solicitor's bid to chuck references to his being "greedy" and "corrupt" in a judgment over a fraudulent $11 billion arbitration award against Nigeria, ruling that the lower court did not violate his right to a fair trial.
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June 10, 2025
FCA's Rathi Tries To Gauge Gov't Risk Appetite For Crypto
The Financial Conduct Authority warned a cross-party group of MPs on Tuesday it needed a steer on the government's risk appetite for crypto-assets amid the push for U.K. competitiveness and economic growth.
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June 10, 2025
PPE Agent Keeps Sheridans Case Alive After Fraud Settlement
A medical supply agent is continuing its negligence case against London law firm Sheridans, despite settling a linked $10.8 million fraud claim from a British company that accused it of taking secret commissions on COVID-19 pandemic protection equipment orders.
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June 10, 2025
Ex-Sky Sports Host Gets 11-Year Director Ban Over £10M Debt
Former Sky Sports presenter Alan Bentley has been banned from running companies for 11 years after his football betting business collapsed with debts to investors of more than £10 million ($13.5 million), the Insolvency Service revealed Tuesday.
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June 09, 2025
German Court Convicts 1 In €23M Platinum Coin VAT Fraud
A German court has convicted one of the leaders of a criminal organization responsible for more than €23 million ($26.3 million) in evaded value-added taxes through its trade of platinum coins, the European Public Prosecutor's Office said.
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June 09, 2025
CPS Launches Plan To Return Lawyers To Criminal Practice
The Crown Prosecution Service is offering to support criminal lawyers to return to the workforce following a career break, as problems with recruitment and retention of solicitors and barristers continue to blight the justice system after decades of underinvestment.
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June 09, 2025
Lex Greensill Claims SoftBank Hid Deal With 'Code Of Silence'
Lex Greensill testified in a $440 million London trial Monday that SoftBank, a Japanese investment company, had designed a restructuring agreement involving his firm to avoid putting potential losses on its accounts in his first public appearance since his eponymous firm's collapse.
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June 09, 2025
Ex-Commerzbank Analyst Denies Faking Sex Assault Claims
A former Commerzbank analyst on Monday fought claims that he lied to a court by making false sexual assault allegations in his failed harassment case against the bank, telling a London court he was being truthful.
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June 09, 2025
Six Men Deny Tax Fraud Charges Over Payroll Outsourcing
Six individuals pleaded not guilty to tax fraud and money laundering charges at a criminal court in London on Monday as part of a sprawling multimillion-pound prosecution brought by HM Revenue and Customs into a payroll outsourcing business.
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June 07, 2025
Minister Calls For Bold Action To Tackle Court Backlogs
The government must take "bold" steps to implement lasting reforms to tackle persistent backlogs in the criminal courts and deteriorating court conditions, a minister warned on Saturday.
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June 06, 2025
Chancery Pauses Meta Privacy Suit For EU, Ireland Actions
A Delaware court on Friday paused a pension fund stockholder suit seeking documents on data privacy violations made by Meta Platforms Inc. that led to a €1.2 billion ($1.4 billion) fine from European authorities.
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June 06, 2025
Reality TV Gallery Owner Gets 2½ Years On Terrorism Charges
An art gallery owner and reality TV art expert was sentenced to over two years' imprisonment at a London criminal court on Friday for failing to report his suspicions when selling around £140,000 ($189,400) worth of art to a suspected terrorist financier.
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June 06, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.
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June 06, 2025
Poor Productivity Driving Crown Court Backlog, Study Says
Poor productivity has been a "major factor" in the growth of the Crown Court's case backlog since the COVID-19 pandemic, an economic think tank said in a study published Friday.
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.