Try our Advanced Search for more refined results
Corporate Crime & Compliance UK
-
March 04, 2024
Associate Of Ex-Dechert Partner Says Settlement Ends Claims
A British-Canadian businessman accused of conspiring with former Dechert partner Neil Gerrard to hack aviation tycoon Farhad Azima told an English judge on Monday that Azima's settlement with the law firm brings the claims against him to an end.
-
March 04, 2024
FCA Warns Asset Managers To Follow Sustainability Rules
The Financial Conduct Authority has warned chief executives of asset management companies that it will focus on their compliance with rules on sustainability disclosure that come into force this year.
-
March 04, 2024
5 Questions For Peter Carter On Insider Dealing Prosecutions
The Financial Conduct Authority's successful prosecution of a former Goldman Sachs analyst for insider dealing provides new insights into what a determined criminal will do to get around compliance procedures and break the law. Here Peter Carter KC at Doughty Street Chambers, who led the prosecution for the FCA, talks to Law360 about the intricacies of tackling these kinds of cases.
-
March 04, 2024
Apple Fined €1.8B For Restricting Music Streaming Developers
The European Union's antitrust authority said Monday that it has fined tech giant Apple €1.8 billion ($1.95 billion) for abusing its dominant position in the market for music streaming apps by preventing developers from letting iPhone users know about cheaper subscriptions.
-
March 04, 2024
KPMG Fined £1.46M For Ad Agency Accounting Breaches
The Financial Reporting Council said on Monday that it has fined KPMG £1.46 million ($1.85 million) for a string of "serious failings" during the audit of advertising group M&C Saatchi PLC.
-
March 03, 2024
UK Gov't Plans New Law To Reverse PACCAR Funding Fallout
The U.K. government announced legislative changes on Monday designed to make it easier for people to secure funding for legal claims against companies in the wake of a landmark Supreme Court ruling that made many litigation agreements unenforceable.
-
March 01, 2024
WealthTek Case Paused For FCA To Weigh Bringing Charges
A judge on Friday delayed the Financial Conduct Authority's enforcement proceedings against a wealth manager over an £80 million ($101 million) shortfall, finding the watchdog should prioritize deciding whether to charge the company's founder over one of the "most significant frauds" it ever investigated.
-
March 01, 2024
Ex-Stobart CEO Fights To Argue Conspiracy As A Shareholder
Stobart Group's former chief executive should not be allowed to retry his claim that he was the victim of a conspiracy to remove him as chair, the company now known as Esken Ltd. told a London court on Friday.
-
March 01, 2024
Wright Blames Enemies For Forged Email In Satoshi Trial
Craig Wright hit back on Friday at accusations that he forged an email amid a trial over his claims that he is the inventor of bitcoin, telling a London court that an enemy could have doctored the message to sabotage his case.
-
March 01, 2024
Greenwashing Risk Warning As EU Plans Benchmark Change
European asset managers warned on Friday that expected revisions to the rules on benchmarks would remove transparency, hindering the explanations about sustainability that they need to give investors to fight against greenwashing.
-
March 01, 2024
5 Questions For Ex-Public Prosecutions Director Max Hill KC
Max Hill KC, the former head of the Crown Prosecution Service, was persuaded to join King & Spalding LLP as a consultant in its special matters and government investigations practice partly because of the changing economic crime landscape in the U.K.
-
March 01, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a legal battle between confectionary heavyweight Mars Wrigley UK and a frozen food manufacturer, a trademark infringement claim by Abbott Diabetes Care over glucose monitoring meters, Mercedes-Benz Group hit with two commercial fraud disputes, and the Mediterranean Shipping Company tackle a cargo claim by an insurance company. Here, Law360 looks at these and other new claims in the U.K.
-
March 01, 2024
Home Office Ankle Tags For Migrants Breached Data Law
A government pilot scheme to electronically monitor migrants breached privacy law, the U.K.'s data watchdog said on Friday as it issued an enforcement notice and warning.
-
February 29, 2024
HMRC Uncovers Complex Offshore Tax Avoidance Scheme
The U.K. tax authority said Thursday that it had exposed a complex tax avoidance scheme operating through a Singapore-based company.
-
February 29, 2024
Drax May Face Group Litigation Over Greenwashing Claims
Drax Group PLC shareholders could launch a group legal action against the energy company over claims it faked its environmental credentials to secure £6.5 billion ($8.2 billion) in U.K. government subsidies, the law firm helming the action said.
-
February 29, 2024
Mozambique President Beats 'Tuna Bonds' Immunity Appeal
Mozambique's president cannot be sued in England by shipbuilder Privinvest in the country's wide-ranging litigation over the $2 billion "tuna bonds" corruption scandal as a London appellate court on Thursday upheld a ruling that he has immunity as a sitting head of state.
-
February 29, 2024
European Authorities Arrest 14 In €195M VAT Fraud Probe
European law enforcement agencies said Thursday that they had arrested 14 people suspected in a €195 million ($211 million) value-added tax fraud across 17 countries.
-
February 29, 2024
Global Regulator Seeks Stronger Swiss Bank Safeguards
A global standards setter recommended on Thursday that the Swiss authorities introduce tougher rules for the country's biggest banks as it learns from the crisis that led to the rushed UBS-Credit Suisse merger in 2023.
-
February 29, 2024
Academic Says Richard III Film Shows Him As Misogynistic
A university academic who oversaw the discovery of Richard III's remains told the High Court in the first stage of a libel trial on Thursday that a Steve Coogan film portrays him as devious, misogynistic, patronizing and disablist.
-
February 29, 2024
FCA Plan To Name Suspect Firms Early Alarms Finance Sector
Plans put forward by the Financial Conduct Authority to name companies under investigation early might unfairly cause "catastrophic" damage to reputations, even if the regulator later drops the case, according to lawyers.
-
February 29, 2024
£1.84B Of Gov't-Backed COVID Loans Suspected Fraudulent
Some £1.84 billion ($2.32 billion) of U.K. government-backed COVID-19 loans granted to help businesses through the pandemic are suspected to be fraudulent, the Department for Business and Trade said Thursday.
-
February 29, 2024
Meta Hit With GDPR Complaints By EU Consumer Groups
Meta has been accused of "massive illegal data processing" by eight European consumer groups, which alleged on Thursday that the tech giant's "consent or pay" choice for customers is a cover-up for obtaining sensitive personal information.
-
February 29, 2024
Car Leasing Execs To Face 2026 Trial In £88M SFO Fraud Case
Two directors of a failing car leasing company accused by the Serious Fraud Office of carrying out an £88 million ($111 million) investment fraud are set to face trial in September 2026, a judge confirmed on Thursday.
-
February 28, 2024
Autonomy Founder's Fraud Trial Risks 'Morass,' Judge Warns
The California federal judge overseeing the upcoming criminal fraud trial of Autonomy founder Mike Lynch over the software company's $11.7 billion sale to Hewlett-Packard warned prosecutors and defense attorneys Wednesday about growing estimates for the trial's length, saying they're "going to lose [jurors] in the morass" of a monthslong trial.
-
February 28, 2024
MPs Launch Inquiry Into Effectiveness Of Russia Sanctions
Parliament's Treasury Select Committee on Thursday said it is launching a parliamentary inquiry into whether Britain's sanctions against Russia have been effective in hampering the Kremlin's ability to finance its war with Ukraine.
Expert Analysis
-
5 Things To Know About The European Data Act
While the recently adopted European Data Act creates a framework for a single data market, unlocking new economic potential, the EU law raises complex data access and protection issues, say lawyers at Latham.
-
EU Ruling Sets Antitrust Analysis For Vertical Price-Fixing
The European Court of Justice's recent ruling in Super Bock v. Autoridade da Concorrência marks a significant step forward by introducing well-established EU competition law principles in the context of vertical price-fixing agreements, and seems to align with the U.S. approach, say lawyers at McDermott.
-
The Challenges Ahead For The New SFO Director
As the first nonlawyer to be appointed director of the U.K. Serious Fraud Office, it is clear that Nick Ephgrave will face many significant challenges in his new role, and his priority should be to ensure he has a trusted senior management team to support him, say Louise Hodges and Phil Taylor at Kingsley Napley.
-
The Importance Of A Proactive Approach To Workplace Safety
Two recent Crown Court cases regarding gross negligence manslaughter highlight the costs of failing to prioritize safety at work, which should act as a catalyst for companies to review and update their health and safety policies, say lawyers at Fieldfisher.
-
Report On UK Investment Act Offers Welcome Insights
The U.K. government's recent report on the National Security and Investment Act's first full year of operation is to be applauded for disclosing more information on the act's notification system than was required, enabling a better understanding of what has taken place and what the next year may hold, say Andrea Hamilton and Ajal Notowicz at Milbank.
-
Loot Box Regulation In Europe Could Benefit From Reform
In light of recent court rulings concerning video game loot boxes, authorities across Europe are taking increasing note of this mechanism, yet with a coordinated approach, appropriate regulations and a focus on enforcement, there is no need to issue a ban, say Elia Kim and Hazal Kirci at Simmons & Simmons.
-
Preparing For M&A Under The Foreign Subsidies Regulation
The EU Foreign Subsidies Regulation introduces requirements that companies operating in the region must consider in M&A transactions, and any foreign financial contributions received by a target should be checked during the due diligence stage, with specific provisions for commission approval if a notification requirement is triggered, say Hendrik Viaene and Stéphane Dionnet at McDermott.
-
Important Generative AI Considerations In M&A
The recent surge of interest in generative artificial intelligence and its use of machine learning algorithms means there are novel concerns as well as inherent risks for those engaging in M&A activity, and acquirers should pay careful attention to a target’s scope of ownership and licensing rights, say attorneys at Davis Polk.
-
Why Data Protection Compliance May Cost The Environment
Companies thinking about environmental, social and governance goals may conclude that using good data ethics is a win-win, but aligning data protection principles and carbon footprint reduction is not always straightforward and compliance efforts may be a trade-off between privacy, opportunity and the environment, says Alice Wallbank at Shoosmiths.
-
Pension Trustee Case Could Lead To Fossil Fuels Divestment
While the recent Court of Appeal case McGaughey v. Universities Superannuation Scheme attempts to link fossil fuel investment by trustees to significant risk of financial detriment, it is concerning that two out of 470,000 scheme members could be permitted to bring a claim without ensuring that other members are represented, says Anna Metadjer at Kingsley Napley.
-
Outbound Screening May Be Next EU Investment Control Step
Following the European Commission’s recent commitment to reduce dependence on third countries by developing an outbound investment review mechanism, it will be interesting to see whether member states will take a united stand or whether national security interests will trump such an approach, say Christoph Barth and Neil Hoolihan at Linklaters.
-
Barclays Ruling Narrows Banks' Fraud Recovery Duty
The U.K. Supreme Court's recent ruling in Philipp v. Barclays decided against the so-called Quincecare duty's application in authorized push payment fraud, shining light on how banks should balance their responsibility to follow customers' instructions against making reasonable inquiries, say lawyers at Ontier.
-
Green Loans May Be Hungary's Path To Sustainable Financing
Fueled by a rising trend in the use of green loans, Hungary is making impressive progress in its journey toward achieving a net-zero future, although the development of social and sustainability-linked loans is still a work in progress, say Gergely Szalóki and Bálint Bodó at Schönherr.
-
AI Act Issues To Watch As EU Legislators Negotiate
The EU is working to adopt the world's first comprehensive regulatory framework for artificial intelligence, but the AI Act proposals from the European Commission, Parliament and Council currently differ on law enforcement use of AI, classification of AI systems and related compliance obligations, say Alexander Roussanov and Lazarinka Naydenova at Arnold & Porter.
-
How The Law Must Change To Accommodate Digital Assets
The Law Commission's recent report shows that the common law of England and Wales is well suited to adapt to digital assets, and with targeted statutory reform to unlock the possibility of recognizing property in intangible things, the U.K. can become an ideal hub for parties to transact with emerging technology, says Sarah Green at the commission.