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Corporate Crime & Compliance UK
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October 31, 2025
Lawmakers Ask Gov't To Measure FCA Support For Growth
A committee of the House of Lords urged HM Treasury on Friday to set measures for how effectively Britain's financial regulators support the government's economic strategy for growth.
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October 31, 2025
5 Indicted In Germany In €188M VAT Fraud Scheme
Five German residents have been indicted on charges related to their participation in a €188 million ($217 million) value-added tax fraud scheme, European Union authorities said Friday.
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October 31, 2025
UK Sanctions Banker For Backing Iranian Military Group
The government has sanctioned an Iranian banker and businessman for his role in financially supporting the activities of the Islamic Revolutionary Guard Corps, a primary military branch of the country's armed forces.
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October 30, 2025
EU Top Court Clarifies Rules On Sharing Antitrust Evidence
The European Union's top court ruled Thursday that national competition authorities may share settlement documents or files on leniency applications with criminal prosecutors, provided that doing so does not undermine the effectiveness of the bloc's competition law.
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October 30, 2025
VietJet Fights Contempt Claim Over Aircraft Dispute
A Vietnamese budget airline told an appeals court Thursday that the subsidiary of an international private investment company cannot pursue it for contempt of court, because it never breached the terms of an injunction protecting the company's aircraft.
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October 30, 2025
Seafood Biz Says CEO Embezzled Funds For Lavish Lifestyle
A seafood business has sued former bosses for more than £1.7 million ($2.2 million), accusing them of misappropriating company funds to finance a lavish lifestyle that included luxury cars and extravagant holidays.
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October 30, 2025
Ex-Virgin Media Worker Fined For Selling Data Used In Fraud
A former Virgin Media O2 employee has admitted to selling confidential customer data to a family friend for use in a boiler room fraud, in the first Financial Conduct Authority prosecution under the Data Protection Act, the regulator has revealed.
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October 30, 2025
Libyan Fund Fees Were Legit Compensation, Financiers Claim
The former head of a U.K. fund manager and a Swiss banker have denied diverting millions of dollars in improper fees from a Libyan sovereign wealth fund, telling a court on Thursday that any fees they accepted were legitimate compensation for their work.
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October 30, 2025
FCA Investigating 76 Cases Of Non-Financial Misconduct
The Financial Conduct Authority is currently investigating 76 cases of bullying, harassment or discrimination in the financial sector, a senior executive has told a parliamentary committee.
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October 29, 2025
Senior Barrister Disbarred After Admitting Sexual Harassment
A senior criminal barrister was disbarred at a London legal disciplinary tribunal Wednesday after he admitted sexually harassing a junior colleague in 2018.
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October 29, 2025
UK Starts Redress Program For 'Capture' Post Office Scandal
The government launched a new compensation program on Wednesday for postmasters who suffered financial losses as a result of faulty Capture accounting software.
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October 29, 2025
UK To Extend Right-To-Work Checks To Gig Economy
The U.K. government said Wednesday it will stamp out illegal working by extending right-to-work checks to the gig economy for the first time, as part of the Labour Party's plan to get tougher on immigration.
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October 29, 2025
Iraqi Fails To Block Kuwait Extradition Over £243M Fraud
An Iraqi national wanted in Kuwait over an alleged £243 million ($322 million) property fraud has failed to challenge his extradition, as a court found Wednesday that it was the correct move amid strong public interest in the U.K. honoring its international obligations.
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October 29, 2025
Fired Bank of Africa Whistleblower Argues UK Arm Is Liable
The former head of human resources for Bank of Africa argued Wednesday that a London tribunal had rightly held the lender's U.K. arm liable for her firing and mistreatment for whistleblowing, as she fought its appeal against the ruling.
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October 29, 2025
Microsoft Says Retailer's £262M Reselling Claim Is Too Late
Microsoft has hit back at a retailer's £262 million ($347 million) antitrust claim alleging that the tech giant deliberately suppressed sales of aftermarket software licenses, telling a London court that its opponent waited too long to bring the case.
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October 29, 2025
Ikea Oversight Ends After Sexual Harassment Policy Reforms
The U.K.'s human rights watchdog has stopped monitoring Ikea after the Swedish household goods giant improved its sexual harassment policies following its alleged failure to investigate an incident.
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October 29, 2025
UK's AG Blames Old Spy Law For Collapse Of China Case
Prosecutors would have been able to proceed to trial against two men accused of spying for China if Parliament had repealed an "out of date" century-old espionage law sooner, the attorney-general told a parliamentary committee on Wednesday.
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October 29, 2025
Santander Asks UK To Act Over Motor Compensation Program
Santander UK called on the government on Wednesday to intervene in the Financial Conduct Authority's proposed £11 billion ($14.5 billion) car finance compensation scheme, claiming it could harm consumers and the economy.
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October 28, 2025
Finance Pros Accused Of Diverting £14M From Libyan Fund
The former head of a U.K. fund manager and a Swiss banker pocketed millions of dollars in improper fees from a Libyan sovereign wealth fund, prosecutors told a London court on the first day of the trial on Tuesday.
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October 28, 2025
Dubai Trader Says Iran Sanctions Don't Block $16M Payment
A Dubai-based petroleum products trader accused a U.K. broker on Tuesday of wrongly withholding $16.5 million from its cash account due to U.S. sanctions targeting Iran, at the beginning of a London trial.
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October 28, 2025
Salmon Producers Deny Price-Fixing In Tesco Collusion Claim
Salmon producers have denied Tesco's claim that they secretly shared commercially sensitive information on the sales of the fish farmed in Norway to increase prices in England, arguing that exchanges would have been to legitimately negotiate deals in the unpredictable market.
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October 28, 2025
CMA Tightens Leniency Rules For Cartel Whistleblowers
The U.K.'s competition regulator has released fresh guidance for its leniency regime, saying on Tuesday that it matters more than ever that those within a cartel come forward about their involvement before an investigation has started.
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October 28, 2025
Bank Of Africa Fights To Overturn Whistleblower's Win
Bank of Africa sought on Tuesday to overturn a ruling that its former head of human resources was fired for whistleblowing, telling the Employment Appeal Tribunal that a lower court had made findings "it could not have possibly reached."
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October 28, 2025
FCA Drafts Policy On Emergency Short-Selling Powers
The Financial Conduct Authority released a draft policy on Tuesday on how it would use its "emergency powers" to stop or restrict short selling, in a new regime that will anonymize individual major short sellers.
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October 27, 2025
Tom Hayes Slaps UBS With $400M Malicious Prosecution Suit
Former UBS trader Tom Hayes has filed a $400 million suit against his old employer, claiming the company "maliciously" framed him as the "evil mastermind" behind the company's Libor scandal despite the fact that he was explicitly directed to try to influence Libor submissions while at UBS.
Expert Analysis
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Competition Act Brings Important UK Merger Control Changes
Although recently effective sections of the Digital Markets, Competition and Consumers Act provide clarity on the transactions that may attract Competition and Markets Authority attention, some reforms potentially expanding the regulator's scope may be concerning to transacting parties, say lawyers at Fried Frank.
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How GCs Can Protect Cos. From Geopolitical Headwinds
Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.
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What BT Ruling Will Mean For UK Class Actions
The Competition Appeal Tribunal’s recent dismissal of a £1.3 billion mass consumer claim against BT, the first trial decision for a U.K. collective action, reminds claimants and funders of the high bar for establishing an abuse, and provides valuable insight into how pending mass consumer cases may be resolved, say lawyers at Ashurst.
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Navigating PRA's Data Request For Crypto-Asset Exposure
The Prudential Regulation Authority’s recent data request for details on financial institutions' crypto-asset exposures should be used as an opportunity for firms to update their compliance procedures, and consider the future use of crypto-assets and related services, says James Wickes at RPC.
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Key Points From FCA Financial Crime Guide Updates
The Financial Conduct Authority’s recent updates to its financial crime guide reflect the regulator’s learnings on sanctions following Russia's invasion of Ukraine, highlighting and clarifying consumer duty, anti-money laundering and other compliance expectations, say lawyers at Womble Bond.
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Tax Directive Marks Milestone In Harmonizing EU System
The Council of the European Union’s recently adopted tax directive is a significant step toward streamlining and modernizing procedures for member states, and will greatly reduce administrative burden and compliance costs for cross-border investors, says Martin Phelan at Simmons & Simmons.
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Why Nonfinancial Misconduct Should Be On Firms' Radar
Following a recent Financial Conduct Authority survey showing an increase in nonfinancial misconduct, the regulator has made clear that it expects firms to have systems in place to identify and mitigate risks, says Charlotte Pope-Williams at 3 Hare Court.
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What New UK Code Of Conduct Will Mean For Directors
The Institute of Directors’ new voluntary code of conduct is intended to help directors make better decisions and enable U.K. businesses to win back eroded public trust, although, with no formal means of enforcement, its effectiveness could be limited, says Sarah Turner at Eversheds Sutherland.
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Russian Bankruptcy Ruling Shows Importance Of Jurisdiction
The U.K. Supreme Court's recent decision not to assist a Russian receiver in Kireeva v. Bedzhamov will be of particular interest in cross-border insolvency proceedings, where attention must be paid to assets outside the jurisdiction, and to creditors, who must consider carefully where to apply for a bankruptcy order, say lawyers at McDermott.
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Russia Sanctions Spotlight: UK Guides Offer Support To Cos.
The Office of Trade Sanctions Implementation’s recent guidance provides best practice suggestions that can help businesses mitigate the risk of their exports being targeted by Russian circumvention efforts, while noting that there is no one-size-fits-all approach to compliance, says Alexandra Melia at Steptoe.
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How Board Directors Can Adapt To Shifting Governance Tides
With European Union regulatory initiatives trending toward a sharp focus on ESG reporting requirements and ramping up pressure on corporate boards, directors should play a more active part in ensuring business objectives are aligned with regulatory demands, says Kallia Gavela at Alvarez & Marsal.
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How Listing Act Measures Will Modernize EU Capital Markets
The new European Union Listing Act, in line with the capital markets union initiative, aims to simplify market access for small and midsize enterprises, laying a foundation for a more integrated framework and representing a modernization milestone, say lawyers at Cleary.
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Forced Labor Imports Raise Criminal Risks For UK Retailers
Last summer’s London appeals court ruling applying the Proceeds of Crime Act to products made with forced labor, potential legislative reforms and recent BBC allegations about Chinese produce harvested by Uyghur detainees suggest British importers and retailers should increase scrutiny of their supply chains, says Ian Hargreaves at Quillon Law.
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Insider Info Compliance Highlights From New FCA Guidance
The Financial Conduct Authority's recent guidance to companies on identifying inside information clarifies the regulator's expectation of case-by-case assessment, helpfully highlighting that abuse of U.K.-regulated markets can arise earlier than some might think, say lawyers at Sullivan & Cromwell.
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EU's AI Act May Lead To More M&A Arbitration
With the EU's Artificial Intelligence Act and its stiff penalties beginning to take effect, companies acquiring AI targets should pay close attention to the provisions in the dispute resolution clauses of their deal documents, say Nelson Goh at Pallas Partners and Benjamin Qiu at EKLJ.