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Corporate Crime UK

  • January 4, 2019

    Fund Manager Who Sparked FCA Probe Loses Firing Row

    A London judge has ruled that an asset management firm was justified in firing a fund manager at the center of a Financial Conduct Authority antitrust probe, finding he disclosed confidential information ahead of an initial public offering.

  • January 4, 2019

    Europe Unveils Draft Sustainability Rules For Firms, Insurers

    The European Commission stepped up its fight against climate change on Friday, unveiling draft rules that will require financial institutions and insurers to consider sustainability when giving out investment advice.

  • January 4, 2019

    Ex-Barclays Execs Face London Trial Over Qatar Fundraising

    Four former directors at Barclays PLC will become the most senior bankers to face criminal charges in the U.K. over their conduct during the financial crisis when they appear before a London jury to face trial over fundraising for the British lender’s emergency cash call in 2008.

  • January 4, 2019

    ING Fights $19M Derivatives Suit Over Singapore Bank Sale

    ING Bank NV has stood by a calculation it made about its liability to Lehman Brothers when selling its Asian unit to Singapore’s Oversea-Chinese Banking Corp. Ltd. in 2009, denying in new court documents that the Singapore lender is entitled to any of the damages or relief claimed.

  • January 3, 2019

    Ex-Credit Suisse Bankers Aided $2B Fraud In Africa: Feds

    Former Credit Suisse bankers, a Lebanese businessman and top officials in Mozambique participated in a scheme to siphon funds from more than $2 billion in government-backed loans for fraudulent projects in the African nation, according to an indictment unsealed Thursday in New York federal court.

  • January 3, 2019

    Russian Auto Co.'s $58M Suit Against Banker Revived

    A New York state appeals court revived a $58 million lawsuit by a Russian auto sales company against a former banker on Thursday, saying a Manhattan judge was wrong to find that a related case in federal courts had addressed the same issues.

  • January 3, 2019

    FCA Guides Employees On Avoiding Conflicts Of Interest

    The Financial Conduct Authority said it has instructed its staff to declare and surrender gifts worth more than £30 ($37.8) under a sweeping policy designed to tackle conflicts of interest at the regulator.

  • January 3, 2019

    Exporter Denies Fraud Allegations In Singapore Bank Suit

    A Chinese commodities exporter has hit back at allegations by Oversea-Chinese Banking Corp. that it conspired with a trader to be paid fraudulently by Deutsche Bank, denying that it knew the trade deal was based on bogus documents.

  • January 3, 2019

    Bank of England Appoints Veterans To Top Policy Panel

    Two industry veterans have been appointed to serve as external members on one of the Bank of England’s top panels, which monitors financial health, HM Treasury said Thursday.

  • January 2, 2019

    Germany Drops Insider Probe Into Ex-Deutsche Boerse CEO

    The Frankfurt prosecutor’s office confirmed Wednesday it has ended its investigation into a former Deutsche Boerse AG chief executive suspected of insider trading in exchange for payments of almost €5 million ($5.7 million).

  • January 2, 2019

    UK Rolls Out New Rules On Executive Pay At Large Cos.

    The U.K’s largest companies will be forced to disclose how much their bosses are paid — and the size of the pay gap between the most senior staff and their average employee — under new rules that came into force Tuesday and are designed to boost accountability at the highest level.

  • January 2, 2019

    UK Claims Managers Told To Seek Temporary Authorization

    Claims management companies are now able to apply for temporary permission to operate lawfully in the U.K., the Financial Conduct Authority said Wednesday, as it prepares for the introduction of a tough authorization regime in April.

  • January 2, 2019

    Tycoon In Bitter Fraud Suit Says Relative Misused Funds

    A real estate tycoon accused of swindling £14.5 million ($18.2 million) from the property investment business that he ran has alleged in documents filed at the High Court in London that its founder is misusing the company’s funds to pursue legal proceedings against him in an increasingly bitter family dispute.

  • January 2, 2019

    FCA Orders Business To Stop Marketing Investments

    The Financial Conduct Authority has ordered an investment company to stop marketing its fixed-rate investment bonds and individual savings accounts as it carries out an investigation.

  • January 1, 2019

    White Collar Cases To Watch In 2019

    The coming year's white collar docket is an active one, with several large health care fraud cases set to go to trial and post-trial litigation that could shape the law in insider trading and other financial crimes and affect how companies cooperate in criminal probes.

  • January 1, 2019

    Cybersecurity & Privacy Predictions For 2019

    Cybersecurity and privacy will continue to remain top-of-mind for companies in 2019, with the cyberthreat landscape expected to keep growing, vendor relationships taking on added importance, U.S. states continuing to flex their muscles and international data transfers getting even stickier. Here, attorneys offer five predictions for what promises to be another big year in the cybersecurity and privacy realm.

  • January 1, 2019

    Cybersecurity & Privacy Policy To Watch In 2019

    Momentum is expected to build significantly in 2019 for the enactment of a comprehensive federal privacy framework in the U.S., while the pair of laws that played a major role in fueling these efforts — California's landmark Consumer Privacy Act and the European Union's General Data Protection Act — will continue to loom large, according to attorneys.

  • January 1, 2019

    UK Banks, Insurers Brace For Busy Regulatory Year In 2019

    The U.K.'s financial services face a regulatory reckoning on Brexit in 2019, as well as a shift away from the long-standing Libor benchmark and a deadline for payment protection insurance complaints that have cost banks billions of pounds in compensation. Here Law360 looks at the hurdles facing banks and insurers in the year ahead.

  • January 1, 2019

    UK Financial Services, Insurance Cases To Watch In 2019

    Two of Britain's most long-awaited financial services cases are set to go to trial in January, giving court watchers plenty to look forward to in 2019 — from complex fraud suits to a showdown over insurance in the Deepwater Horizon Disaster. Here Law360 looks at the key cases coming in the year ahead.

  • December 21, 2018

    Former Oil Exec Faces 2nd Corruption Charge From SFO

    Britain’s Serious Fraud Office has charged a former oil executive with a second count of conspiracy to make corrupt payments in its criminal case against Unaoil, a consultancy accused of bribery in Iraq, the agency said Friday.

Expert Analysis

  • Curbing Bribery And Corruption In International Arbitration

    Mathew Rea

    There are concerns that parties to contracts procured through corruption may choose arbitration because the process is confidential and consensual, and because arbitrators have been traditionally reluctant to investigate corruption on their own initiative. If true, that creates a very real risk, says Mathew Rea, co-head of Bryan Cave’s global international arbitration team.

  • International Cartel Stats: A Look At The Last 26 Years

    John M. Connor

    John M. Connor, professor emeritus at Purdue University and senior fellow of the American Antitrust Institute, compiled information on 1,336 private international cartels investigated since 1990. In this article, he presents aggregate statistics on numbers, affected sales, damages, corporate penalties, individual fines and incarceration, and highlights broad geographic differences.

  • A Review Of Key Criminal Cases Against Execs In Q2

    Dawn E. Murphy-Johnson

    In this article, attorneys with Miller & Chevalier Chtd. highlight the most significant criminal cases and government investigations that affected corporate executives in the second quarter of 2016.

  • Volvo Provision Hints At Enormity Of Truck Cartel Decision

    Richard Pike

    Volvo recently announced a €250 million increase to an existing provision of €400 million for a European Commission investigation into an alleged cartel between truck manufacturers. Other manufacturers have also made large provisions, resulting in the total amount now exceeding €2.5 billion. There is every indication that we may be looking at a record commission cartel fine, says Richard Pike of Constantine Cannon LLP.

  • The Evolving Fiduciary Landscape: Antitrust

    Michael Lange

    Institutions have started looking beyond securities to recovery opportunities in other areas touching on their investments and operations. In this article, Michael Lange and Brian Shea of Financial Recovery Technologies LLC highlight recent antitrust class action trends mirroring those seen earlier for securities, note some key differences, and suggest best practices to account for those differences.

  • A Review Of Gov't Cases Against Execs In Q1

    Kirby Behre

    In this article, attorneys with Miller & Chevalier Chtd. highlight the most significant cases and government investigations that affected corporate executives in the first three months of 2016.

  • 10 Corporate Culture Lessons From Deutsche Bank

    Betsy P. Collins

    Regulators blamed Deutsche Bank's Libor-related misconduct on the culture within the bank, whose unsecured and permissive business model allowed egregious and pervasive misconduct to thrive. Fixing a broken corporate culture is hard and painful, and regaining a lost reputation for integrity is virtually impossible, say Betsy Collins and Mignon Lunsford of Burr & Forman LLP.

  • The Top 10 D&O Stories Of 2014

    Kevin M. LaCroix

    Many of last year’s key events represented significant changes in the directors and officers liability environment — the rise of jumbo derivative lawsuit settlements, cybersecurity emerging as a D&O liability concern and the surge of initial public offering-related securities litigation, among others. In addition, there are many pending issues that will only be resolved as 2015 unfolds, says Kevin LaCroix of RT ProExec.

  • Should US Law Enforcement Really Police World Soccer?

    Patrick O’Donnell

    Like the recent trans-Atlantic foreign exchange fraud settlements, the New York-based investigation into the FIFA bribery case holds promise that U.S. regulators can, again, manage to extract their pound of flesh for conduct occurring overseas. However, the expansion of U.S. extraterritorial law enforcement should give Americans pause, says Patrick O’Donnell of Harris Wiltshire & Grannis LLP.

  • Margrethe Vestager: The New EU Competition Commissioner

    Stephen Mavroghenis

    Margrethe Vestager inherits the European Commission's competition portfolio from outgoing Spanish Commissioner Joaquin Almunia, whose tenure, while marked with enforcement victories, will leave a bitter pill in the mouths of a number of companies — and their lawyers, say attorneys with Shearman & Sterling LLP.