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Corporate Crime & Compliance UK
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February 21, 2025
Stellantis Loses €770M Auto Parts Cartel Claim
The Competition Appeal Tribunal dismissed on Friday a €770 million ($805 million) claim brought by Peugeot and other car manufacturers after they failed to show how a European car safety parts cartel caused them to pay higher prices.
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February 21, 2025
Tesco Follows Rivals With Salmon Farmer Competition Claim
Tesco Stores Ltd. has brought a competition claim in London against a group of salmon producers that are also embroiled in a £675 million ($854 million) cartel claim from several other retailers in the U.K.
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February 21, 2025
Mastercard Wins Green Light For £200M Swipe Fee Settlement
The Competition Appeal Tribunal said Friday it would approve a £200 million ($250 million) settlement between Mastercard and Walter Merricks to end litigation over credit card fees, despite "some concerns about how the matter was dealt with" in the lead-up to the deal being reached.
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February 21, 2025
Ex-Dechert GC Subpoenaed Over Gerrard Abuse Claims
An imprisoned Jordanian lawyer can subpoena the former general counsel of Dechert LLP over what the leadership of the law firm knew of alleged human rights abuses committed by a former partner in the United Arab Emirates, a U.S. federal judge has ruled.
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February 21, 2025
4 Banks To Pay £100M To Settle UK Bond Trading Probe
Four banks including HSBC and Morgan Stanley will pay more than £100 million ($126 million) in fines for their involvement in a cartel that shared sensitive information on trading in government bonds, the U.K. antitrust authority said on Friday.
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February 20, 2025
Another Ex-Allianz Exec Gets No Time For $7B Investor Fraud
A former managing director for Allianz SE's U.S. unit on Thursday avoided a term of imprisonment for his role in a ploy to con investors about the riskiness of a group of private funds that lost over $7 billion when the COVID-19 pandemic hit.
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February 20, 2025
Actor Fights To Add Conspiracy Claim To Guardian Libel Case
Actor Noel Clarke on Thursday fought to add six people to his libel battle against The Guardian newspaper over articles about allegations he was a sexual predator, arguing he should be allowed to try to claim they conspired to destroy his reputation.
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February 20, 2025
Analyst Used COVID To Cloak Insider Dealing, FCA Tells Court
A former analyst at global asset management firm Janus Henderson used the "cloak" of COVID-19 restrictions to run an insider dealing syndicate while working from home, the Financial Conduct Authority said at the beginning of a criminal trial in London on Thursday.
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February 20, 2025
Ex-Spanish Soccer Chief Guilty, Fined For Sexual Assault
A Spanish judge on Thursday found former Spanish football president Luis Rubiales guilty of sexually assaulting national team midfielder Jenni Hermoso, coloring the forcible kiss he gave to Hermoso after the team's 2023 World Cup victory a "reprehensible act."
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February 20, 2025
Gambling Watchdog Denies Publication Hurt Ex-Entain Execs
The Gambling Commission has denied that it caused two former top executives at the predecessor of betting giant Entain "unquantifiable" harm by publishing information relating to potential bribery.
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February 20, 2025
Conflicts Should Block Mastercard Settlement, Innsworth Says
Litigation-funder Innsworth told the Competition Appeal Tribunal on Thursday that the negotiating process behind a £200 million ($250 million) settlement to end a mass claim against Mastercard has created conflicts of interest which mean the deal should be refused.
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February 20, 2025
FCA Explains Deleted Emails Plan As Modernization Move
The Financial Conduct Authority has said its plan to delete staff emails after a year is designed to modernize how it manages its records, amid criticism that the proposals undermined transparency at the regulator.
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February 20, 2025
Justices Hand Creditors Boost In Hunt For Fraudulent Assets
Britain's top court has broadened the ability of judges to claw back assets on behalf of defrauded creditors in a decision that lawyers say may also catch benign commercial arrangements.
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February 20, 2025
Job Applicants Don't Need Whistleblowing Rights, UK Argues
The government argued on Thursday that it is "perfectly justified" that job applicants do not benefit from the same whistleblowing rights as workers as it responded to a woman's attempt to convince the Court of Appeal to extend legal protection to her.
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February 20, 2025
Lloyds Sets Aside £700M For Motor Finance Probe Costs
Lloyds said Thursday that it has set aside an additional £700 million ($880 million) to cover potential costs arising from a Financial Conduct Authority investigation into "secret" agreements on motor finance commissions and a related appeal at the top U.K. court.
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February 19, 2025
Gov't Unfairly Fired Whistleblower On Afghanistan Exit
A civil servant has won a landmark unfair dismissal case after losing her job following a BBC Newsnight interview about the "chaotic" evacuation of Afghan citizens during NATO's withdrawal.
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February 19, 2025
Law Prof Can't Revive £500M Apple, Amazon Class Action
A law professor lost a bid to revive her nearly £500 million ($628 million) price-fixing class action against Apple and Amazon on Wednesday, with a U.K. competition tribunal reiterating that she was not independent enough to bring the case.
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February 19, 2025
Gov't Can Shield Material In Case Over Leaked Trump Cables
A London judge on Wednesday agreed to let the government withhold sensitive evidence in its fight with a civil servant who claims he was falsely accused of leaking an ambassador's criticisms of Donald Trump.
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February 19, 2025
Former Latham Secretary Accused Of Defrauding Partner
A former secretary for a Latham & Watkins LLP partner appeared at a London criminal court on Wednesday on charges of defrauding £39,800 ($50,000) from him.
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February 19, 2025
CMS Cashier Barred From Law Firms For Stealing Funds
A cashier at CMS Cameron McKenna Nabarro Olswang LLP has been barred from working for a law firm after she abused her position on more than 100 occasions to steal a "considerable" amount of money from the firm, the Solicitors Regulation Authority has said.
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February 19, 2025
Job Applicant Fights For Whistleblowing Rights In Appeal
An external job applicant to an English council fought Wednesday for status to sue as a whistleblower, arguing at the Court of Appeal that her case falls "squarely within the employment field."
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February 19, 2025
Mastercard Deal Does Not Need To Be Perfect, Tribunal Told
Mastercard's £200 million ($250 million) agreement with Walter Merricks "does not have to be perfect" to get approval from the Competition Appeal Tribunal, lawyers for both sides argued on Wednesday in the court's first hearing in a contested class action settlement.
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February 19, 2025
FCA Calls For Probe Into Digital Wallet Competition Issues
The Financial Conduct Authority and the Payment Systems Regulator on Wednesday urged the U.K. competition watchdog to investigate competition concerns for digital wallets because of market dominance by big tech groups like Apple and Google.
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February 19, 2025
Barrister Denies Owing Duty To Flag Law Firm's Negligence
A barrister has denied breaching his duties to a technology company by failing to highlight a potential negligence claim against a law firm, as he told a London court that no such obligation existed.
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February 19, 2025
Ex-Stella McCartney Employee Admits Fraud On Design Brand
A former employee of the Stella McCartney fashion brand pleaded guilty at a London criminal court on Wednesday to defrauding the company out of more than £275,000 ($346,300).
Expert Analysis
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Uber Payout Offers Employer Lessons On Mitigating Bias
Uber Eats' recent payout to a driver over allegations that the company's facial recognition software was discriminatory sheds light on bias in AI, and offers guidance for employers on how to avoid harming employees through the use of such technology, says Rachel Rigg at Fieldfisher.
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Apple Ruling Offers Morsel Of Certainty On Litigation Funding
An English court's recent decision in Gutmann v. Apple, finding that a litigation funder could be paid via a damages award, offers a piece of guidance on the permissibility of such agreement terms amid the ongoing uncertainty around funded group litigation in the U.K., says Mohsin Patel at Factor Risk Management.
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Cum-Ex Prosecutions Storm Shows No Sign Of Abating
The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.
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Traversing The Web Of Nonjudicial Grievance Mechanisms
Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.
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Opinion
FCA Greenwashing Rules Need To Be Stronger To Be Effective
The Financial Conduct Authority's forthcoming anti-greenwashing measures, aimed at ensuring the veracity of regulated entities’ statements about sustainability credentials, need external scrutiny and an effective definition of "corporate social responsibility" to give them bite, says Jingchen Zhao at Nottingham Trent University.
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Companies House False Filings Raise Issues Of Integrity
A recent spate of unauthorized company filings with Companies House raises specific concerns for secured lenders, but also highlights the potential for false filings to be used to facilitate fraudulent schemes, says Daniel Sullivan at Charles Russell.
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Gov't Probe Highlights Computer-Based Evidence Issues
A recently launched U.K. Home Office probe, following the alleged use of faulty data in criminal cases, illuminates the need for scrutiny on the presumed reliability of evidence from computer-based systems, says Jessica Sobey at Stokoe Partnership.
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UK Courts Continue To Struggle With Crypto-Asset Cases
Although the common law has proved capable of applying established principles to crypto-assets, recent cases highlight persistent challenges in identifying defendants, locating assets and determining jurisdiction, suggesting that any meaningful development will likely come from legislative or regulatory change, say Emily Saunderson and Sam Mitchell at Quadrant Chambers.
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Why Computer Evidence Is Not Always Reliable In Court
Recent challenges to the admissibility of encrypted communication from the messaging tool EncroChat highlight the flawed presumption in the U.K. common law framework that computer evidence is always accurate, and why a nuanced assessment of such evidence is needed, say Sam De Silva and Josie Welland at CMS Legal.
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Comparing The UK And EU Approaches To AI Regulation
While there are significant points of convergence between the recently published U.K. approach to artificial intelligence regulation and the EU AI Act, there is also notable divergence between them, and it appears that the U.K. will remain a less regulatory environment for AI in the foreseeable future, say lawyers at Steptoe.
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Lessons On Using 3rd-Party Disclosure Orders In Fraud Cases
The expansion of the gateway for service out of jurisdiction regarding third-party information orders has proven to be an effective tool against fraud since it was introduced in 2022, and recent case law offers practical tips on what applicants should be aware of when submitting such orders, says Rosie Wild at Cooke Young.
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Compliance Points To Know About The EU Digital Services Act
Online service providers in the European Union should prioritize understanding the scope of the recently implemented Digital Services Act, their specific legal obligations under it and the practical steps they must take to comply with the new law while obeying a raft of overlapping EU digital reforms, say Leo Moore and Róisín Culligan at William Fry.
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Independent Regulator Could Chip Away At FIFA Autonomy
After the U.K.'s recent proposal for an independent football regulator, FIFA's commitment to safeguarding football association autonomy remains unwavering, despite a history of complexities arising from controversies in the bidding and hosting of major tournaments, say Yasin Patel at Church Court Chambers and Caitlin Haberlin-Chambers at SLAM Global.
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A Look At The Latest EU Alternative Investment Regulation
Recent amendments to the EU Alternative Investment Fund Managers Directive governing a range of alternative investment funds reflect a growing regulatory focus on nonbanking financial institutions, which expand credit to support economic growth but carry a commensurate risk, say Juliette Mills and Alix Prentice at Cadwalader.
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Unpacking The Law Commission's Digital Assets Consultation
The Law Commission recently published a consultation on recognizing a third personal property category to accommodate the development of digital assets, highlighting difficulties with current models of property rights and the potential consequences of considering digital assets as personal property, say Andrew Tsang and Tom Bacon at BCLP.