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Corporate Crime & Compliance UK
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July 16, 2025
Senior Managers Regime Revamp Risks Letting In Bad Apples
The City watchdog's planned overhaul of its senior managers regime risks allowing people with records of misconduct to slip into financial firms because of the relaxation of rules on references and criminal checks, according to lawyers.
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July 16, 2025
Barclays Fined £42M For Failures In Financial Crime Controls
The Financial Conduct Authority said Wednesday that it has hit Barclays Bank PLC with fines totaling £42 million ($56 million) for two separate failings in its management of financial crime risk, which could have exposed the bank to criminals laundering money.
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July 15, 2025
'Orange King' And Son Say Cartel Claims Are Stale
The estate and son of Brazil's late "Orange King" argued in a London trial Tuesday that claims by more than 1,400 Brazilian orange farmers over a price-fixing cartel should be halted because they were brought out of time.
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July 15, 2025
Fraud Victim Can't Pursue Wealth Manager's Kids
An ophthalmologist cannot pursue the children of a dead wealth manager for assisting in the dissipation of frozen funds, after a judge ruled Tuesday that there is no evidence that they were aware of their father's $14 million fraud.
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July 15, 2025
Lawyer And Accountant Face 2027 Money Laundering Trial
A solicitor who is a former political candidate and an accountant charged by the National Crime Agency with money laundering are set to face trial in 2027.
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July 15, 2025
Court Refuses To Rule Bali Villa Sale Breached Asset Freeze
A London court said Tuesday that it will not decide whether the wife of a former Russian bank executive had committed contempt of court by selling her villa in Bali 10 days before an asset freeze against her was lifted.
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July 15, 2025
UK To Ease Senior Manager Rules Amid Regulatory Overhaul
The government unveiled a raft of reforms to financial services regulation on Tuesday as it seeks to encourage investment in the economy, a package that includes streamlined rules for senior managers and easier capital requirements for lenders.
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July 15, 2025
Property Deals Remain Top Money Laundering Risk, SRA Says
Property conveyancing is still the biggest money laundering risk in the legal sector, the Solicitors Regulation Authority said Tuesday.
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July 14, 2025
UAE Prisoner Voluntarily Drops Suit Against Ex-Dechert GC
A Jordanian lawyer imprisoned in the United Arab Emirates has permanently dropped a Philadelphia civil suit seeking discovery against Dechert LLP's former general counsel in the U.S. over what the law firm's leadership knew of alleged human rights abuses committed by a former partner.
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July 14, 2025
Insurance Co. Accuses Ex-CEO Of Siphoning £19M At Trial
An insurance company accused its former chief executive and a director at the start of a London trial on Monday of misappropriating millions of pounds by siphoning money from the business for his own financial benefit.
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July 14, 2025
Solicitor Sues Law Firm £423K For Misusing Estate Proceeds
The solicitor for a deceased individual's estate has sued a law firm for £423,000 ($568,000), accusing it of using money from the sale of a house from the estate to carry out sham property purchases.
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July 14, 2025
SFO Still Yet To Use Power To Freeze Crypto Wallets
The Serious Fraud Office has not pursued any crypto wallet freezing or forfeiture orders since their introduction over a year ago, according to an information request disclosed Monday, a month after the government pledged more in funds for the agency to invest in its investigatory capabilities.
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July 14, 2025
Lender Denies Helping Pharma Boss Secure Secret £6M Loan
A business lender has denied working with the now-former chief executive officer of an online pharmacy to take out about £6.1 million ($8.2 million) in unauthorized loans under the company's name without the knowledge of investors or board members.
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July 14, 2025
Deezer Sues For €12M Over Hacked Data Sold On Dark Web
Deezer has hit a marketing software business with a claim of almost €12 million ($14 million) at a London court, alleging that the technology company negligently handled users' data that was eventually hacked and sold on the dark web.
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July 11, 2025
Wine Exec Extradited From UK Denies $99M Fraud Scheme
One of two executives of a United Kingdom wine company was extradited to the U.S. and pled not guilty on Friday in Brooklyn federal court to charges that he conned investors into making loans using wine collections as collateral, cheating them out of $99 million.
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July 11, 2025
Celebs Cannot Use Pattern To Prove Mail Claims, Judge Says
A London judge ruled Friday that celebrities suing the publisher of the U.K.'s Daily Mail newspaper for allegedly gathering information about them through unlawful methods cannot prove their individual claims by showing the company's journalists used those methods habitually.
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July 11, 2025
Entrepreneur Sues Rights Advocate Over $1B Corruption Claim
The owner of a green economy investment company has alleged that a human rights advocate defamed the owner in an article that claimed he used his companies to embezzle more than $1 billion into offshore accounts and had bribed high-profile U.S. officials.
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July 11, 2025
Deceased Financiers' Assets Tapped To Cover Thai Bank Debt
The liquidators of a collapsed Thai lender can be paid from the English assets of two deceased financiers convicted over an embezzlement scheme, after a judge held Friday the funds can go to partially cover a judgment debt totaling £60 million ($81 million).
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July 11, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen HS2 hit with a defamation claim by two ex-employees who blew the whistle on alleged under-reporting of costs, Craig Wright and nChain face legal action brought by its former chief financial officer over a fraud scheme, and pro-footballer Axel Tuanzebe bring a clinical negligence claim against his former club Manchester United F.C. Here, Law360 looks at these and other new claims in the U.K.
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July 11, 2025
UK Election Gambling Cheating Trials Fixed For 2027, 2028
A London criminal judge on Friday told defendants charged with gambling offenses over bets on the timing of the previous U.K. general election on Friday that they will have to wait until 2027 at the earliest for their trials.
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July 11, 2025
Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze
A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.
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July 11, 2025
Staley Tribunal Decision Could Fuel Challenges To FCA Fines
A landmark tribunal ruling that upheld the Financial Conduct Authority's ban of ex-Barclays CEO James "Jes" Staley from banking — but slashed his fine — could ultimately lead other executives with back-loaded pay packages to fight the watchdog's decisions, lawyers say.
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July 10, 2025
Russian Banker Inks Sanctions DPA After FBI Botches Warrant
The founder of Bank Otkritie on Thursday secured a deferred prosecution agreement with Manhattan federal prosecutors to resolve allegations of assisting the head of Russian state-backed lender VTB Bank in evading U.S. sanctions, just a month after a swath of email evidence was thrown out over a botched FBI search warrant.
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July 10, 2025
Ninth Person Convicted In €2.3M German VAT Fraud
A German court has convicted the ninth individual linked with a €2.3 million ($2.7 million) value-added tax fraud scheme involving international trade of cars, European Union prosecutors announced Thursday.
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July 10, 2025
14 Arrested Over Suspected Phishing-Tied Tax Fraud Scheme
Fourteen people have been arrested as part of an international investigation into a large-scale tax fraud operation that used personal data stolen in phishing attacks, the U.K. tax authority announced on Thursday.
Expert Analysis
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M&A Takeaways From 1st EU Foreign Subsidies Merger Ruling
The European Commission’s recent decision on the merger between e& and PFF Telecom is the first to approve a transaction subject to commitments under the Foreign Subsidies Regulation, serving as a helpful guide by confirming that behavioral measures ring-fencing EU activities from the potential effect of third-country subsidies are acceptable, say lawyers at Cleary.
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What New Int'l Treaty Means For Global AI Regulation
Lawyers at Bird & Bird consider how global artificial intelligence regulation will be affected by the first international AI treaty recently signed by the U.S., EU and U.K., as well as its implications for business and several issues that stakeholders should be aware of.
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Factors Driving EU Competition Policy For The Next 5 Years
Teresa Ribera Rodríguez’s recent nomination as the new European Union commissioner for competition prompts questions about policy and enforcement, with goals to enhance competition in business, implement stronger and faster enforcement, and promote and fund decarbonization likely in her sights during a five-year term, say lawyers at Linklaters.
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2 Highlights From Labour's Notable Employment Rights Bill
The Labour government’s recently unveiled Employment Rights Bill marks the start of a generational shift in U.K. employment law, and its updates to unfair dismissal rights and restrictions on fire-and-rehire tactics are of particular note, say lawyers at Covington.
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How Energy Scheme Is Affecting Large Co. Fund Investment
The latest phase of the Department of Energy and Climate Change's Energy Savings Opportunity Scheme implicates funds with investments in large companies by establishing significant and complex changes to the reporting cycle for mandatory assessments, say lawyers at Macfarlanes.
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How Companies House Enforcement Powers Are Growing
Companies House's recently increased ability to assess what material is submitted to the U.K. register of companies, and to proportionately enforce where violations have occurred, may require some degree of cultural shift within many companies, say lawyers at Greenberg Traurig.
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How New Sanctions Office Will Affect UK Trade Landscape
The recent launch of the Office of Trade Sanctions Implementation will help to create a more comprehensive civil enforcement terrain, but the potential for multiple investigations means businesses should reassess their systems to ensure they do not inadvertently incur civil liability, says Julia Pearce at Robertson Pugh.
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FCA Savings Update Focuses On Good Customer Outcomes
The Financial Conduct Authority’s recent cash savings update emphasizes its expectations of firms to deliver fair value to consumers by documenting the rationale for actions at each stage, considering customer communications and demonstrating that potential harms are acted upon, say Matt Handfield, Charlotte Rendle and Caroline Hunter-Yeats at Simmons & Simmons.
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Opinion
Why The UK Gov't Should Commit To An Anti-SLAPP Law
Recent libel cases against journalists demonstrate how the English court system can be potentially misused through strategic lawsuits against public participation, underscoring the need for a robust statutory mechanism for early dismissal of unmeritorious claims, says Nadia Tymkiw at RPC.
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5 Takeaways From UK Justices' Arbitration Jurisdiction Ruling
The U.K. Supreme Court's recent judgment in UniCredit Bank v. RusChemAlliance, upholding an injunction against a lawsuit that attempted to shift arbitration away from a contractually designated venue, provides helpful guidance on when such injunctions may be available, say attorneys at Fladgate.
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FCA's Broad Proposals Aim To Protect Customer Funds
The Financial Conduct Authority’s proposed changes to payments firms’ safeguarding requirements, with enhanced recordkeeping and fund segregation, seek to bolster existing regulatory provisions, but by introducing a statutory trust concept to cover customers’ assets, represent a set of onerous rules, says Matt Hancock at Greenberg Traurig.
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Complying With Growing EU Supply Chain Mandates
A significant volume of recent European Union legislative developments demonstrate a focus on supply chain transparency, so organizations must remain vigilant about potential human rights and environmental abuses in their supply chain and make a plan to mitigate compliance risks, say lawyers at Weil.
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Takeaways From Upcoming Payment Fraud Delay Legislation
Lawyers at Hogan Lovells discuss what to know about new legislation that will allow payment service providers to delay payments when third-party fraud is suspected, and share pointers for providers to consider ahead of the Oct. 30 effective date.
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What New EU Packaging Regulation Will Mean For Companies
The forthcoming Packaging and Packaging Waste Regulation aims to regulate the entire life cycle of products from design to end-of-life waste, and will present particularly challenging deadlines for organizations, especially regarding recyclability and substances of concern, say Marcus Navin-Jones and Ward Overlaet at Crowell & Moring.
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Modernizing UK Trade Settlement Standard: The Road Ahead
Andrew Tsang and Tom Bacon at BCLP consider the rationale and challenges of a potential U.K. trade settlement acceleration, part of an initiative to modernize the financial market infrastructure, and suggest that incorporating distributed ledger technology as a synchronized recording system would facilitate the move.