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Corporate Crime & Compliance UK
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July 25, 2025
Odey's Libel Claim And Sex Assault Case To Have Joint Trial
Hedge fund manager Crispin Odey's £79 million ($106.2 million) libel claim against the Financial Times will be tried jointly with claims by five women accusing him of sexual abuse, a London judge ruled Friday.
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July 25, 2025
AXA Wins £675M Missold PPI Payout Fight With Santander
AXA has won a £675 million ($907 million) battle with Santander to recover payouts for wrongly sold payment protection insurance as a London court ruled that the Spanish banking giant was liable for "systemic failings" in historical sales of the policy.
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July 25, 2025
MoD Official Named As New Companies House CEO
Senior Ministry of Defence official Andy King has been appointed as chief executive of Britain's official business registrar as it seeks to toughen its stance on financial crime.
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July 24, 2025
SportPesa Chair Claims Stake Dilution Was Deliberate Fraud
The former chair of online betting company SportPesa was the victim of an unlawful scheme to dilute his valuable stake in the company, his lawyer said in closing submissions at a London trial on Thursday.
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July 24, 2025
Traders' Win Casts Doubt On Plans For No-Jury Fraud Trials
Repeated failure by the courts to ensure that two former traders imprisoned for rigging benchmark interest rates were given a fair trial has fueled criticism of radical reforms to roll back jury trials in complex fraud cases to ease pressure on the judicial system.
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July 24, 2025
Four Traders Plan Appeals After Justices Quash Convictions
Four City traders convicted of manipulating benchmark interest rates plan to file new challenges against their verdicts after the U.K. Supreme Court ruled that two former bankers in similar cases failed to receive a fair trial.
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July 24, 2025
Fintech Execs Deny Misleading Bank In £4M Fraud Claim
Defunct fintech startup BrickVest Ltd. and its co-founders have denied allegations brought by a German specialist property lender in a £4.2 million ($5.7 million) London claim that they hid additional investment in the business before its collapse.
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July 24, 2025
Amazon To Face £4B Dual Class Actions In UK
The U.K.'s competition court gave the green light on Thursday to two class actions against Amazon, totaling £4 billion ($5.4 billion), alleging that the e-commerce giant abused its dominant market position to the detriment of retailers and consumers.
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July 24, 2025
German Court Convicts 4th In €195M VAT Fraud Scheme
A fourth person has been convicted in connection with a €195 million ($229.3 million) value-added tax fraud scheme, this time in a German regional court, the European Public Prosecutor's Office said.
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July 24, 2025
Audit Watchdog Imposed £14.5M In Fines Last Year
Britain's audit watchdog said Thursday it levied £14.5 million ($19.6 million) in fines across a 12-month period ending in March that also saw it wrap the majority of its investigations in a more timely way than ever before.
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July 24, 2025
NCA Seizes £17M Tied To Suspected Illegal China Trades
The National Crime Agency revealed Thursday that a Chinese national has agreed to forfeit money and seven London properties worth £16.7 million ($22.6 million) which the agency suspects are the proceeds of criminal securities trading in China.
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July 24, 2025
Taylor Vinters Fined For AML Breach Before Mishcon Deal
The solicitors' watchdog said Thursday that it has fined Taylor Vinters LLP £172,900 ($234,100) for anti-money laundering violations that predate its 2023 merger with Mishcon de Reya LLP.
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July 24, 2025
SFO Charges 6 With Fraud Over £75M Pension Investments
The Serious Fraud Office charged six individuals with fraud and money laundering on Thursday over alleged misrepresentations made to investors who poured £75 million ($101 million) from their pensions into self-storage units.
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July 23, 2025
UK Eyes Google, Apple Mandates For App Ranking, Payments
United Kingdom antitrust authorities on Wednesday formally proposed singling out Apple's and Google's mobile platforms for extra regulatory attention and specific mandates, proposing road maps for the Play Store and App Store that could try to stop the companies from boosting their own apps and commission-based payment systems.
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July 23, 2025
2nd Circ. Orders Review Of Sealed Epstein Case Docs
The Second Circuit on Wednesday vacated rulings denying requests to unseal materials in a defamation case tied to deceased financier and accused sex trafficker Jeffrey Epstein, ordering a New York district court to review certain filings after determining they're considered judicial documents and presumed to be public.
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July 23, 2025
PE Firm Says Ex-All Saints Chair In Contempt Over Share Sale
An arm of private equity firm Lion Capital urged a London judge on Wednesday to find the former chairman of All Saints had breached a court order by challenging a deal to sell his shares in the high street fashion chain.
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July 23, 2025
Hayes' Victory Leaves SFO Rate Rigging Convictions In Doubt
The decision by the U.K. Supreme Court to quash the convictions of two former traders accused of manipulating interest rates has opened the door for other bankers to challenge the fairness of their trials, lawyers say.
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July 23, 2025
Student Jailed For Selling Phishing Kits Used In £100M Fraud
A university student who sold more than a thousand phishing kits which were used to commit fraud worth at least £100 million ($135 million) globally has been jailed for seven years, the Crown Prosecution Service said Wednesday.
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July 23, 2025
Deloitte Faces UK Probe Over Glencore Audits
Britain's accounting watchdog said Wednesday that it had started an enforcement investigation into accounting firm Deloitte over audits into Glencore over an eight-year period that partially overlaps with the years the commodities and mining group ran a global bribery scheme.
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July 23, 2025
Credit Suisse Gets Forex Cartel Fine Slashed To €28M
The European Union's General Court reduced on Wednesday a fine imposed on Credit Suisse for its part in a foreign-exchange trading cartel by approximately €54.3 million ($64 million).
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July 23, 2025
ENRC Wins Appeal To Add $128M Damages In SFO Dispute
ENRC won its bid on Wednesday to add $128 million in damages to its claim against the Serious Fraud Office as the Court of Appeal ruled that the mining company is entitled to ask for compensation for money lost to higher borrowing costs arising from the agency's investigation.
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July 23, 2025
FCA Criticizes Firms For Slow Fixes To Reporting Failures
The Financial Conduct Authority warned regulated companies on Wednesday that it has found deficiencies in transaction reporting, with some taking too long to address compliance failings.
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July 23, 2025
Liquidators Win Bid To Enforce £102M Award Over Hotel Fraud
A businessman will be bound by a £102 million ($138 million) damages bill after he helped a property investor swindle secret profits, Britain's highest court ruled on Wednesday, rejecting his argument that the scheme had not caused financial harm to the defrauded company.
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July 23, 2025
Top UK Court Overturns Traders' Rate-Rigging Convictions
Britain's highest court quashed on Wednesday the convictions of two former traders imprisoned for interest rate rigging in a landmark decision that could open the door for upending historic prosecutions.
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July 22, 2025
Ex-Soldier Ran £1.3M Investment Ponzi Fraud, Jurors Told
A former British Army rifleman ran a Ponzi investment fraud which raised £1.3 million ($1.7 million) from 238 investors before collapsing, the U.K.'s financial regulator said at the beginning of a London criminal trial Tuesday.
Expert Analysis
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Updated EU Procedure Streamlines Data Transfer Approval
The European Data Protection Board’s updated approval procedure for binding corporate rules for transfers of personal data to non-European Union countries promotes consistency for regulator communications during the application process, and sets expectations for processing timelines, say lawyers at Hogan Lovells.
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What Cos. Must Note From FCA Bulletin On Leaking M&A Info
The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
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FCA's Odey Decision Is Wake-Up Call For Financial Firms
The Financial Conduct Authority recently banned hedge fund boss Crispin Odey from working in financial services, underscoring the critical importance the regulator places on whether individuals are fit and proper to perform regulated activities, and the connection between nonfinancial misconduct and the integrity of the financial markets, say lawyers at Pallas Partners.
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How Ransomware Payment Reforms Could Affect UK Cos.
The Home Office’s recent proposals to ban ransomware payments by publicly owned bodies is a welcome first step in its aims to tackle the cybercrime industry, but the risk remains that hackers will now focus on private companies that are still permitted to pay a ransom, says Dominic Holden at Lawrence Stephens.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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Rising To The Task Of Online Safety Act Compliance
The arrival of the Online Safety Act’s deadlines for all in-scope services and children’s access in March and April, enabling the Office of Communications to begin enforcing safety duties regarding illegal content, presents formidable compliance challenges for affected businesses, says Louisa Chambers at Travers Smith.
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Google Win Illustrates Hurdles To Mass Data Privacy Claims
The Court of Appeal's December decision in Prismall v. Google, holding each claimant in a mass data privacy suit must demonstrate an individualized and sufficiently serious injury, demonstrates the difficulty of using representative action to collect damages for misused private information, say lawyers at Seladore Legal.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.