The past week has seen a corporate finance firm take in a British airline, a financial adviser sue a renowned restaurateur and a group of luxury hotels take on Visa and Mastercard over competition claims.
The mastermind behind one of Britain's biggest cyberscams must pay £2 million ($2.6 million) to compensate his victims within three months or face a further eight years in jail, according to a confiscation order delivered under the Proceeds of Crime Act.
Dublin stockbroker Campbell O’Connor has been hit with a €280,000 ($315,000) fine for multiple anti-money laundering and terrorism financing compliance failures, the Irish Central Bank announced Friday.
The former top lawyer at a financial company accused of taking part in a $1.9 billion fraud against the Danish revenue agency has proclaimed ignorance of any wrongdoing, saying he held no tax qualifications and relied on expert colleagues to help him with certain aspects of his job.
Britain’s payment regulator has said it will delay imposing tough safeguards on banks for authenticating the identity of customers until December, so it can introduce rules aimed at stopping people being duped into sending money to fraudsters across all banks.
A judge at a London court has ordered a subsidiary of PricewaterhouseCoopers not to read court documents in its possession connected to a $1.9 billion claim for embezzlement filed by a Ukrainian bank against its two former owners.
Danske Bank said Friday it has appointed a new chief executive to steer it out of a major money laundering scandal that has attracted regulator scrutiny from several jurisdictions in Europe and the U.S.
HM Revenue & Customs will solicit comments until May 12 on a proposed tax on plastic packaging made with limited recycled material, according to a consultation updated Thursday to include a new email address for responses.
A former executive of British software company Autonomy convicted of accounting fraud slammed the government’s “draconian” sentencing recommendations Wednesday as well as its characterization of him as a “Bond villain” in a colorfully worded response filed in California federal court.
Attorneys representing Hewlett Packard and Autonomy Corp. founder Mike Lynch clashed in a heated exchange Thursday during Britain’s biggest fraud trial over evidence that a former sales executive at the British software firm believed the company’s ex-finance chief was in thrall to his boss.
A former UBS compliance officer accused of providing inside information to her day trader friend on potential takeovers the bank was advising on had company documents and handwritten notes about some of the companies involved in the deals at her home, a London jury heard Thursday.
A London court has slapped a 14-year ban on the boss of a company for allegedly misleading his clients when offering them investments in Brazilian social housing, the government’s bankruptcy agency said Thursday.
A lawyer for Deutsche Bank told a London court on Thursday that the lender did not bribe the former treasury manager of a housing association to secure interest rate swaps trades that led to €840 million ($940 million) in losses for the property provider.
A property developer has drilled down on allegations that RBS caved to government pressure to run him out of business, saying there was no logical reason for the bank not to refinance his business when it was making a steady revenue stream off of him.
An accountant who made millions of pounds by defrauding celebrities including the pop star Rita Ora has been sentenced to five years and eight months in prison, according to British police and court officials.
The Financial Conduct Authority said Thursday it plans to punish three now-defunct pensions advisers and their former managers with a combined fine of £1.3 million ($1.7 million) for outsourcing oversight of retirement plans to companies that pushed thousands of savers into risky investments.
Danske Bank has hired a financial crime specialist from Morgan Stanley to take the helm of its anti-money laundering unit, the Danish lender has said, as it deals with multiple investigations into transactions of up to €200 billion ($224 billion) at its Estonian branch.
A British financial services company has been fined and "severely reprimanded" over failings in its audit for homeware retailing chain Laura Ashley PLC, the auditing regulator said Thursday, a day after it imposed a £4 million ($5.2 million) penalty on KPMG.
A Dutch appeals court has affirmed a ruling freezing Kazakhstan's interest in a consortium operating in one of the largest offshore oilfields in the Caspian Sea, according to two Moldovan oil and gas investors looking to collect a more than $506 million arbitral award against the country.
The head of the U.K.'s competition authority vigorously defended a set of proposals that would give the watchdog more teeth to use against companies that rip off consumers, arguing in a speech Wednesday that the power to levy more fines and bans would affect only bad actors, not honest firms.
Because the Libor rate for short-term loans will soon be gone, the U.S. Alternative Reference Rates Committee may seek to amend contracts wholesale through legislation. However, this solution would face serious political and legal obstacles, says Anne Beaumont of Friedman Kaplan Seiler & Adelman LLP.
Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.
The U.K. government will likely adopt the European Union's Fifth Money Laundering Directive even in the event of a no-deal Brexit, meaning U.K. financial services organizations and law firms have under a year to review and possibly update their current policies and procedures, says Joanne Cracknell of Willis Towers Watson PLC.
While sharing some of her predecessor's sentiments, Serious Fraud Office Director Lisa Osofsky has shown decisiveness and independence by closing two of the SFO's largest investigations in her first six months in office, says Ross Dixon of Hickman & Rose Solicitors.
The German Federal Cartel Office's decision last month against Facebook — the first time a competition authority ruled on a privacy-related abuse of dominance — is based on specific German case law and reasoning that seems questionable from an antitrust policy perspective, say Sean-Paul Brankin and Evi Mattioli of Crowell & Moring LLP.
These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.
As regulators start to aggressively enforce the General Data Protection Regulation while also focusing on development of cookie compliance and cybersecurity, Rohan Massey and Edward Machin of Ropes & Gray LLP offer five data protection predictions to watch for this year beyond the changes that Brexit may bring.
The Sixth Anti-Money Laundering Directive recently adopted by the Council of the European Union targets the financing of terrorism and organized crime, which have remained significant problems despite the efforts of previous directives, say Ian Hargreaves and Deirdre Lyons Le Croy of Covington & Burling LLP.
Individuals are sometimes tempted, or advised, to enter into plea negotiations in one jurisdiction on the basis that a guilty plea there will act as a barrier to prosecution elsewhere. Unfortunately, the doctrine of double jeopardy is not always so clear-cut, says Andrew Smith of Corker Binning.