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Corporate Crime UK

  • December 12, 2018

    EU Lawmakers To Step Up Fight Against Non-Cash Fraud

    European lawmakers have reached a political agreement to strengthen the rules for combatting fraud and counterfeiting of non-cash payments such as credit cards and virtual currencies across the bloc. 

  • December 12, 2018

    UK's May Faces No-Confidence Vote Over Brexit Plans

    Prime Minister Theresa May will face a vote of no-confidence from her own Conservative Party MPs on Wednesday evening as opposition to her plan to exit the European Union escalates, raising the prospect of a no-deal departure or no Brexit at all.

  • December 11, 2018

    Ex-Deutsche Traders Fight Convictions, Cite Gov't Misconduct

    Two former traders at Deutsche Bank on Monday urged Manhattan's chief federal judge to reverse their convictions for rigging the London Interbank Offered Rate and dismiss the charges against them, arguing that prosecutors lied and hid evidence throughout the case.

  • December 11, 2018

    FCA Blasts Financial Firms' Cybersecurity Complacency

    The Financial Conduct Authority has warned that bosses at some of the U.K.’s largest asset managers and banks lack the knowledge to tackle cybersecurity issues effectively.

  • December 11, 2018

    FCA's Bailey Sees US Crackdown On ICO Market As Model

    European regulators should get tougher on policing of initial coin offerings, the chief executive of the Financial Conduct Authority said Tuesday, as he pointed to recent enforcement action taken by the U.S. Securities and Exchange Commission to protect consumers.

  • December 11, 2018

    Pensions Regulator Hits Accountant In 1st Fraud Prosecution

    An accountant will appear in court in January charged with scamming more than £200,000 ($251,500) from a pension fund in the first fraud prosecution mounted by The Pensions Regulator, the watchdog said on Tuesday.

  • December 11, 2018

    Ex-Manager At Failed Irish Lender Banned For Loan Breaches

    A former senior manager at an Irish lender that collapsed in 2011 has been disqualified for 18 years from managing a financial services company after he admitted to breaching rules on monitoring commercial loans, Ireland’s central bank said on Tuesday.

  • December 11, 2018

    City Firms Will Suffer Under All Brexit Scenarios, MPs Say

    The financial services sector will contribute less to Britain's economy under all Brexit scenarios set out by the government, a panel of lawmakers said on Tuesday, warning that the country's regulators will lose their voice in forming policy during a transition period after March 29.

  • December 10, 2018

    Greece Fights Enforcement Of €47.9M Contract Award

    Greece urged a New York federal court Monday to reject Leidos’ efforts to start pinning down the country's U.S. assets to enforce an award now worth €47.9 million stemming from the 2004 Olympics, saying the American security contractor’s arbitral award is tainted by a bribery and public corruption scandal and could be nixed.

  • December 10, 2018

    Indian Tycoon Can Be Extradited On Bank Fraud Charges

    A London criminal court ruled Monday that an Indian beverage tycoon can be extradited to India to face charges that he plotted to defraud a major bank in connection with tens of millions of dollars' worth of loans for his now-defunct Kingfisher Airlines.

  • December 10, 2018

    Senior Managers Regime Takes Effect For UK Insurers

    The Financial Conduct Authority’s stringent rules on senior manager accountability took effect Monday for insurers, more than two years after the watchdog first put the conduct requirements into place for banks in 2016.

  • December 10, 2018

    EU Greenlights Controversial Cross-Border Data Access Bill

    The European Union is moving forward with a bill that will allow authorities in criminal proceedings to more easily reach across national boundaries for digital evidence, despite mixed support from member states and criticism from industry groups.

  • December 10, 2018

    UK Outlines New AML Measures For Limited Partnerships

    The U.K. government outlined a package of anti-corruption reforms Monday aimed at tackling the abuse of limited partnerships by criminals to launder dirty money through the U.K., including more stringent checks for registration and annual filing requirements.

  • December 10, 2018

    UK's May Delays Brexit Vote After Rebellion In Own Ranks

    Theresa May postponed a key parliamentary Brexit vote on Monday to stave off a potentially crippling defeat, as the prime minister succumbed to pressure from inside her own Conservative Party to press the European Union for a better deal.

  • December 10, 2018

    Goldman Sachs Takes €37M Cartel Fine To Top EU Court

    Goldman Sachs Group Inc. has filed an appeal at the European Court of Justice challenging a €37.3 million ($42.5 million) fine imposed by European antitrust watchdogs over one of its former affiliate's involvement in a power cable cartel.

  • December 10, 2018

    ECJ Rules UK Can Unilaterally Cancel Brexit Process

    The European Court of Justice ruled on Monday that Britain can unilaterally reverse the process of leaving the European Union, boosting a campaign to stop Brexit with a second referendum if Parliament remains deadlocked over the withdrawal agreement now on offer.

  • December 7, 2018

    FCA Fines Plummet In 2018 As Regulator Shifts Focus

    The total value of fines handed out by the Financial Conduct Authority has plummeted 88 percent in 12 months, new data revealed on Monday, as the U.K. regulator eased off on huge penalties for corporations and focused instead on individual wrongdoing.

  • December 7, 2018

    'Weak' Fraud Trial Raises Questions About SFO's Approach

    The collapse of the trial of two former Tesco directors accused of fraud and false accounting by the Serious Fraud Office is the latest blow for the white collar crime agency and calls into question its dual strategy of pursuing deferred prosecution agreements with companies and criminal prosecutions of individuals, attorneys say.

  • December 7, 2018

    International Law Firms Hire Partners In Boost For London

    Three international law firms have been hiring in the U.K. market as they install veteran lawyers as partners at their London offices, boosting finance and investments practices at two firms and recruiting a former Financial Conduct Authority attorney at a third.

  • December 7, 2018

    Fraudster Cops To Running Illegal Investment Scheme

    The director of a company accused of operating an illegal investment scheme pled guilty to charges of fraud and misleading consumers at a criminal court hearing in central London on Friday, Britain’s financial services watchdog said.