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Corporate Crime & Compliance UK
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June 27, 2025
HMRC Beats Dentist's Appeal Over Tax Avoidance Scheme
A dental practice has failed to overturn a finding that it engaged in tax avoidance by making loan payments to its owner through a trust, after an appeals court Friday found that the payments fall to be taxed as income.
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June 27, 2025
FCA Flags Poor Risk Management Practices At Payment Firms
The Financial Conduct Authority has revealed that payment services companies displayed inadequate risk management in every case it examined in a multi-company review.
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June 26, 2025
Microsoft Can Appeal IP Ruling In £270M Antitrust Case
The Competition Appeal Tribunal on Thursday allowed Microsoft to challenge the tribunal's jurisdiction over copyright law issues that arose out of a £270 million ($370 million) antitrust claim against the technology titan.
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June 26, 2025
Law Firm Settles Crypto Fraud Victim's Negligence Claim
A boutique investment fraud law firm and a cryptocurrency fraud victim have inked a settlement to end a claim accusing the firm of providing negligent advice to recover £500,000 ($687,600) in stolen funds.
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June 26, 2025
BHP Fails To Block Contempt Bid In £36B Dam Disaster Battle
BHP lost its bid on Thursday to block Brazilian municipalities from bringing criminal contempt proceedings in a £36 billion ($50 billion) case over Brazil's worst environmental disaster, with a London court ruling there were reasonable grounds to argue the mining giant was in contempt.
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June 26, 2025
SFO Joins Global Anti-Corruption Alliance To Combat Bribery
The Serious Fraud Office said Thursday it has joined an international and multi-agency team that investigates major corruption to bolster the U.K.'s ability to fight white collar crime and illicit cross-border finance.
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June 26, 2025
Businessman To Stand Trial In Malawi Bribery Case In 2027
A British businessman accused of making corrupt payments to the former vice-president of Malawi, the country's former solicitor general and other high-ranking officials appeared before a London judge on Thursday to be told he won't stand trial for two years.
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June 26, 2025
SRA Taps FRC Exec To Lead Regulator Past Controversies
The Solicitors Regulation Authority said Thursday that it has appointed a senior executive from the U.K. accounting watchdog as its new chief executive, as the regulator navigates a turbulent period marked by high-profile scandals and increased scrutiny.
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June 26, 2025
Audit Watchdog Sets New Guidance For 'Black Box' AI
Britain's accounting watchdog warned Thursday in new guidance on using artificial intelligence in audits that the opacity of AI models makes it crucial for firms to document how they are controlled.
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June 26, 2025
Staley Fails To Overturn FCA Ban Over Epstein Ties
Former Barclays boss James "Jes" Staley lost his bid to overturn the Financial Conduct Authority's ban for allegedly lying about his ties to Jeffrey Epstein on Thursday as a London tribunal found he intentionally misled the watchdog's inquiry into their relationship.
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June 25, 2025
Class Certified In Suit Over Oil Market's Historic Price Crash
A Chicago federal judge has certified a class of futures traders who claim Vega Capital London Ltd. and 12 of its traders caused a historic oil crash with an aggressive price manipulation scheme that resulted in oil futures going negative for the first time, saying the plaintiffs have met all the requirements for certification.
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June 25, 2025
Sanctioned Co. Director Convicted Of Failing To Give Info
A sanctioned company director was convicted in a criminal court in London on Wednesday of failing to adequately respond to a request for information by the U.K.'s sanctions agency.
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June 25, 2025
Solicitor Hit With £30K Court Bill Over Fake Car Claims
A solicitor has been handed an eight-month suspended sentence and a £30,874 ($40,871) bill for filing false claims that city potholes in Stoke-on-Trent were damaging cars, following an investigation that uncovered anomalies in his invoices.
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June 25, 2025
Ex-Trowers Pro Loses Disability Claim Over SRA Referral
An employment tribunal has barred a former employee of Trowers & Hamlins LLP from bringing part of a legal claim against the firm after it reported her to the Solicitors Regulation Authority.
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June 25, 2025
Businessman Jailed For Laundering £1.9M For Romance Scam
A businessman who laundered £1.9 million ($2.6 million) in romance scam proceeds through his textiles business has been imprisoned for more than four years, the Crown Prosecution Service said Wednesday.
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June 25, 2025
Sweden Fines Diagnostics Co. $1.25M For Market Abuse
Sweden's financial watchdog has fined a medical diagnostics company 12 million Swedish kronor ($1.25 million) for breaching European Union regulations on market abuse following an investigation into its handling of insider information, the company revealed on Wednesday.
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June 25, 2025
Steptoe Chastised For Breaching Russian Sanctions
The solicitors' regulator has rebuked the U.K. arm of Steptoe International after it breached the terms of its license to act for two clients under the Russian sanctions regime.
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June 25, 2025
Funeral Director In Court Charged With Fraud, Theft
A funeral director appeared at an English criminal court on Wednesday charged with fraud, theft and burial offenses following a police investigation into his business.
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June 24, 2025
Irwin Mitchell Can't Ax Pension Fraud Negligence Claim
A London court on Tuesday denied Irwin Mitchell's bid to scrap a professional negligence suit against a firm it merged with in 2015, but ruled Irwin Mitchell itself is not liable for the advice given to a pensioner in the wake of alleged fraud.
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June 24, 2025
Gov't Eyes Clearer AML Rules Under Industrial Strategy
The U.K. government has laid out plans to introduce "clearer and more proportionate" money laundering regulations in broader plans to boost growth as it dubbed the country's legal sector one of the key drivers.
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June 24, 2025
CMA Outlines Potential Fixes For Google Search In UK
Britain's competition authority on Tuesday proposed applying the country's new digital markets regime to Google's search service and said it is considering potential interventions, including requiring choice screens and setting rules for search rankings.
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June 24, 2025
Solicitor Denies Inducing Trust To Invest £5.8m In His Firm
A solicitor has denied fraudulently inducing a family trust into investing £5.75 million ($7.84 million) into a company he part owned that became insolvent, arguing the trust made its own assessment to become involved in the "low risk" project.
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June 24, 2025
Ephgrave Says SFO And DOJ 'Back In Business'
The director of the Serious Fraud Office said Tuesday that the agency is "back in business" with the U.S. Department of Justice following a policy shift in how the American prosecutor approaches enforcing international bribery and corruption laws.
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June 24, 2025
Commercial Fraud Claims Shift To King's Bench, Report Finds
The King's Bench Division of the High Court, responsible for a broad range of civil matters, has overtaken the specialist Commercial Court as the most popular place to bring commercial fraud cases in England and Wales, according to trend analysis published Tuesday.
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June 24, 2025
Liverpool Conveyancing Firm Shuttered Over Client Accounts
The Solicitors Regulation Authority said Tuesday that it has shut down a law firm in Liverpool after finding that the firm and its managers failed to comply with rules governing the handling of client money.
Expert Analysis
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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.
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New CMA Powers Will Change Consumer Protection Regime
The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
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Opinion
Prospects For New Fraud Prevention Prosecution Look Slim
With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.