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Corporate Crime & Compliance UK
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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.
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July 22, 2025
UK To Ban Ransomware Payments To Protect Public Services
The Home Office said Tuesday that public bodies may be banned from making ransom payments to cybercriminals under a set of new proposals that it says will make public services a less attractive target for hackers.
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July 22, 2025
Artist Can't Appeal Fake 'Fishrot' Apology Copyright Breach
A performance artist can't appeal a decision that he infringed the copyright of Iceland's largest fishing company by creating a spoof corruption apology about the company's involvement in bribing Namibian officials, a London court ruled Tuesday.
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July 22, 2025
VTB Sues Investment Biz In Sanctions Dispute Over Trades
VTB Capital PLC has sued an investment firm for $3.4 million over unsettled trades of Russian securities, arguing that the other company did not have the right to terminate the trades due to sanctions imposed after the invasion of Ukraine.
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July 22, 2025
BoE Chief Vows To Speak Up If Deregulation Goes Too Far
Andrew Bailey told a cross-party group of lawmakers Tuesday that he would speak out if the Treasury tries too hard to deregulate the financial services industry, adding that bank ring-fencing must remain in place.
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July 22, 2025
DWF Beats Data Privacy Challenge In Injury Fraud Evidence
A London court tossed claims Tuesday that DWF Law LLP broke data protection laws when it analyzed and shared health information from three former personal injury claimants in a bid to expose alleged fraud patterns in road traffic accident cases.
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July 22, 2025
NCA Calls For Crypto-Data Sharing In £100B AML Battle
The National Crime Agency has called for financial services companies to share data with law enforcers to improve identification of illicit cryptocurrency activity as it seeks to combat the estimated £100 billion ($135 billion) laundered in the country every year.
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July 22, 2025
GDPR Whistleblower Wins Bid To Be Paid Until Full Trial
An employment tribunal has ordered a luxury car dealership to keep paying the salary of an employee it recently fired, ruling that she had a strong case that the company had punished her for speaking out over data protection breaches.
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July 22, 2025
HP Owed More Than £730M From Autonomy Fraud Case
Hewlett Packard Enterprise is owed more than £730 million ($985 million) from the estate of Mike Lynch and his former business partner, a London judge ruled on Tuesday, almost a year after the technology entrepreneur died when a yacht he was aboard sank in the Mediterranean Sea.
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July 21, 2025
UK Co. Faces £1M Penalty For Failing To Report Tax Scheme
HM Revenue & Customs was right to determine that a company had promoted a contractor loan tax scheme, a London tribunal ruled, finding the Manchester-based business liable for up to £1 million ($1.3 million) in penalties.
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July 21, 2025
New AI Audit Standard Aims To Tame 'Wild West' Market
The British Standards Institution on Monday unveiled what it called the world's first standard for companies independently auditing artificial intelligence systems amid concern over a potential "wild west" of unchecked providers.
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July 21, 2025
Ex-Execs Sue Telecom Biz Over Alleged £8M Share Sale Loss
Two former directors of a telecom technology company are suing their successors for over £8 million ($10.7 million), alleging they were tricked into selling their shares at a fraction of their true value.
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July 21, 2025
Trader Blames Deutsche Bank For Spoofing Conviction
A former Deutsche Bank trader convicted of tricking market competitors through a "spoofing" scheme has sued the bank in a London court, alleging it trained him to use an illegal trading strategy and then "scapegoated" him when he faced prosecution.
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July 21, 2025
Kession Fights Liability In £1.7M Collective Investment Case
A finance company urged the U.K.'s top court Monday to partly override a judgment that found it liable for botched property investments worth approximately £1.7 million ($2.3 million), arguing that its liability to investors should have been limited.
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July 21, 2025
Ex-Union Lawyer Loses Claim Job Lost Over Whistleblowing
A former solicitor for the National Education Union has lost her claim that she was fired for raising concerns about its insurance cover, as an employment tribunal ruled she was actually dismissed for refusing to work.
Expert Analysis
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What UK Security Act Report Indicates For Future Gov't Policy
Following the recent publication of the National Security and Investment Act report on the scrutiny of proposed investments, it will be interesting to see how the act’s powers fit into a government policy that plans to cut regulatory obstacles, while maintaining a hard line on national security, say lawyers at Katten Muchin.
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What UK Takeover Code's Narrowed Focus Will Mean For Cos.
In narrowing its scope of application, the U.K. Takeover Panel's forthcoming amended code will have practical implications for U.K.-registered companies and ultimately provide greater market clarity and certainty, say lawyers at Davis Polk.
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Examining UK And EU Approaches To Sanctions Enforcement
In light of the Financial Conduct Authority’s recent £28.9 million fine of Starling Bank for its lax sanctions screening processes, businesses should understand both the U.K.’s and the European Union’s enforcement approaches, the larger sanctions landscape and the importance of cooperation, says Angelika Hellweger at Rahman Ravelli.
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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.