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Corporate Crime & Compliance UK
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October 06, 2025
Justices Won't Review Ex-BigLaw Atty's OneCoin Conviction
The U.S. Supreme Court on Monday declined to take up a former Locke Lord LLP partner's appeal of his conviction and prison sentence for helping launder roughly $400 million in proceeds from the infamous OneCoin cryptocurrency scheme.
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October 06, 2025
Pogust Goodhead Seeks To Exit Dieselgate Lead Role
Pogust Goodhead asked a court on Monday for permission to exit its role as joint lead firm on the Dieselgate litigation, a week before the trial is due to begin in what is one of the largest group actions ever brought.
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October 03, 2025
Ex-Petrobras Exec's Challenge To $7.7M Seizure Delayed
A former Petrobras executive's challenge to the U.K's Serious Fraud Office's seizure of $7.7 million from him was delayed by a London court Friday, after the white-collar agency said it needed time to gather evidence about related proceedings in Brazil.
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October 03, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen billionaire Michael Platt sue his former tax lawyer, five former Deutsche Bank staffers file claims against the German bank and an Italian financier issue a commercial fraud claim against the Vatican and UBS.
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October 03, 2025
SFO Investigator Loses Whistleblowing Case Over Disclosure
A former Serious Fraud Office senior investigator who claims he lost a job promotion for raising concerns about a disclosure policy lost his case Friday when a tribunal dismissed his whistleblowing claim.
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October 03, 2025
Denmark's £1.4B Cum-Ex Loss Raises Legal Strategy Doubts
Denmark's "bruising" defeat in its £1.4 billion ($1.9 billion) cum-ex fraud case against trader Sanjay Shah and others calls into question its legal strategy and the scope of its claim, lawyers have said, although they believe an appeal appears inevitable.
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October 03, 2025
EU Markets Watchdog Widens Supervisory Reach For 2026
The European Union's financial markets regulator said Friday it will expand its supervisory responsibilities into a raft of new areas in 2026, including sustainability ratings, green bond issuance and the giant information technology service providers.
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October 03, 2025
Denmark Denied Permission To Appeal £1.4B Cum-Ex Defeat
Denmark cannot revive its £1.4 billion ($1.9 billion) against scores of traders and financial institutions over a cum-ex tax fraud it said was orchestrated by convicted hedge fund trader Sanjay Shah.
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October 02, 2025
UK Crypto Seizure Tees Up £5.5B Legal Battle With China
The record capture by British police of £5.5 billion ($7.4 billion) in cryptocurrency from a convicted money launderer has set up a mammoth legal showdown between the U.K. and defrauded investors, who say the money should be returned to victims in China.
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October 02, 2025
Russia Claims Fraud Tainted $63B Yukos Arbitration Awards
Russia has told a London court that a $63 billion arbitration award to investors in Yukos Oil is unenforceable because the investors obtained it by concealing documents and bribing a witness.
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October 02, 2025
BA Rejects Passengers' Data-Breach Claims As 'Unarguable'
British Airways has hit back at claims from thousands of customers who allege that the airline failed to protect their personal data from a cyberattack, arguing that the claims are time-barred and not well founded.
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October 02, 2025
Groups Want Treasury Flexibility On Overseas Equivalence
U.K. and European financial services trade bodies have asked HM Treasury to take a flexible approach in recognizing overseas regimes as effectively "equivalent" to allow overseas firms access to U.K. customers, with a year's notice of withdrawal.
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October 02, 2025
Commerzbank Says Analyst Made Bogus Harassment Claims
Commerzbank urged a London judge on Thursday to find a former analyst was in contempt for making "wholly bogus" allegations of sexual harassment in an employment tribunal against his former colleagues.
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October 02, 2025
Deutsche Sued By Bankers Tied To Monte Dei Paschi Case
Deutsche Bank has been hit with legal claims in London by five former employees who were convicted and subsequently acquitted for aiding false accounting and market manipulation in one of Italy's biggest financial sandals, according to High Court filings published Tuesday.
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October 02, 2025
Denmark Loses £1.4B Cum-Ex Fraud Case Against UK Trader
Denmark lost on Thursday its £1.4 billion ($1.9 billion) legal claim against scores of traders and financial institutions over a cum-ex tax fraud it said was orchestrated by convicted hedge fund trader Sanjay Shah.
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October 02, 2025
FCA's Crypto Rules Risk Abuse Without Tailored Safeguards
The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.
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October 01, 2025
Daily Mail Publisher Seeks To Contain Celebs' Privacy Claims
The publisher of U.K. tabloid The Daily Mail sought to prune claims brought by public figures including Prince Harry over alleged unlawful information-gathering techniques, arguing Wednesday that they should be restricted to specific allegations of wrongdoing.
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October 01, 2025
Law Firm Denies Liability Over Fraudulent Property Deal
A regional law firm said it should not be liable to pay nearly £1 million ($1.35 million) to a property developer for representing a fraudster posing as the owner of a London property, saying it believed the sale was a genuine transaction.
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October 01, 2025
FCA Gives Chancellor 4-Point Plan For Consumer Duty
The Financial Conduct Authority has given the chancellor of the exchequer a four-part plan to change the Consumer Duty, with additional legislative steps for the Treasury to take, setting out its proposals in a letter published Wednesday.
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October 01, 2025
FRC Eyes Public, Accelerated Action For Audit Breaches
The accounting watchdog set out proposals on Wednesday to enhance its enforcement approach, introducing new options for more targeted and faster action against auditors that break the rules, including publication of cases it has pursued.
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October 01, 2025
Bank CEO Cleared Of Dishonestly Assisting £415M Tax Fraud
A Caribbean bank and its former chief executive have been cleared of dishonestly assisting a £415 million ($558 million) value-added tax fraud as a London court ruled that he did not know about the scheme to defraud tax authorities.
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October 01, 2025
Betfred Operator Hit With Fine For Misleading Slot Practices
The gambling watchdog revealed Wednesday that it has hit the online gambling company which runs Betfred with a £240,000 ($324,000) fine for operating slot games that celebrated losses as wins and failed to show customers their total winnings versus losses.
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September 30, 2025
Credit Suisse Aided Looting Of Tech Exec's Stock, Suit Says
The co-founder of sensing-tech company Aeva Technologies says Credit Suisse provided "institutional cover" to conspirators who stole tens of millions of dollars in Aeva shares from him in what he described as a "calculated, multi-year orchestrated racketeering scheme," according to a suit filed Tuesday in New York federal court.
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September 30, 2025
Data Biz Exec Denies Helping To Hide Property Mogul Assets
A data center executive has denied conspiring to hide assets belonging to property mogul Andrew Ruhan from the liquidators of a hotel company, telling a London court that Ruhan's employment at his company was not a sham.
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September 30, 2025
Pharma Supplier Hit With Fine For Russian Sanctions Breach
Britain's sanctions watchdog revealed on Tuesday that it has fined a subsidiary of global pharmaceutical supplier Colorcon Inc. £152,750 ($206,000) for breaching sanctions against Russia by paying thousands of pounds to employees in Moscow.
Expert Analysis
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UK Data Disputes Could Become Competition Class Actions
While mass data protection claims have chafed against the procedural restrictions that apply to class actions under U.K. law, it is possible these claims will be brought into the fold of the rapidly growing Competition Appeal Tribunal scene, says Aislinn Kelly-Lyth at Blackstone Chambers.
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What Cos. Need To Know About EU's AI Action Plan
The European Commission’s recently unveiled artificial intelligence continent action plan aims to position the European Union as a global AI leader, but with tension surrounding the EU AI Act’s compliance obligations, organizations should prepare for potential regulatory divergence between the plan's pro-innovation approach and the act's more prescriptive regime, says Marc Martin at Perkins Coie.
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Russia Sanctions Spotlight: Divergent Approaches Emerge
With indications of greater divergence and uncertainty in Russia sanctions policy between the U.K., European Union and U.S., there are four general principles and a range of compliance steps that businesses should bear in mind when assessing the impact of a potentially shifting landscape, says Alexandra Melia at Steptoe.
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What Santander Fraud Ruling Means For UK Banking Sector
A London court's recent judgment in Santander v. CCP Graduate School held that a bank does not owe any duty to third-party victims of authorized push payment fraud, reaffirming the steps banks are already taking to protect their own customers from sophisticated fraud mechanisms, say lawyers at Charles Russell.
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Fines Against Apple, Meta Set Digital Markets Act Precedent
The European Commission's recent fines against Apple and Meta, the first under the Digital Markets Act, send a clear message that the act's reach and influence on regulatory thinking is global, say lawyers at Waterfront Law.
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FCA Update Eases Private Stock Market Disclosure Rules
The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
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Key Questions As Court Mulls Traders' Libor Convictions
The U.K. Supreme Court is considering whether to overturn two traders’ Libor and Euribor manipulation convictions, with the appeal reinvigorating debate over the breadth of English common law’s conspiracy to defraud offense and raising questions about the limits of a judge’s role in criminal jury trials, says Ellen Gallagher at Vardags.
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Foreign Countries Have Strong Foundation To Fill FCPA Void
Though the U.S. has paused enforcement of the Foreign Corrupt Practices Act, liberal democracies across the globe are well equipped to reverse any setback in anti-corruption enforcement, potentially heightening prosecution risk for companies headquartered in the U.S., says Stephen Kohn at Kohn Kohn.
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Code Of Practice Signals Aim To Bolster UK Software Security
The U.K. government’s new code of practice for software vendors includes several principles that will help developers and distributors integrate security best practices, but without mandatory adoption, market inconsistencies may emerge, say lawyers at Deloitte.
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Expect Complex Ruling From UK Justices In Car Dealer Case
While recent arguments before the U.K. Supreme Court in a consumer test case on motor finance commissions reveal the court’s take on several points argued, application of the upcoming decision will be both nuanced and fact-sensitive, so market participants wishing to prepare do not have a simple task, says Tom Grodecki at Cadwalader.
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Why Cos. Should Investigate Unethical Supply Chain Conduct
The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
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FCA Bulletin Highlights Risks Of Leaking Inside M&A Info
The Financial Conduct Authority’s recent bulletin on the consequences of leaking sensitive information during transactions, warning that such disclosure may result in market abuse allegations, demonstrates the regulator’s determination to root out and penalize insider dealing, say lawyers at Cadwalader.
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New Anti-Corruption Task Force Bolsters Int'l Collaboration
The recent creation of an anti-corruption task force by the U.K., France and Switzerland demonstrates a commitment to tackling bribery within national and international frameworks, and organizations within these jurisdictions’ remit, including U.S. companies operating in Europe, should review their compliance practices to ensure they address diverging requirements, say lawyers at Skadden.
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FCA's Regulatory Plans Signal Cause For Cautious Optimism
The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
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How CMA Is Responding To UK Gov't Pro-Growth Agenda
With the U.K. government’s recent call for the Competition and Markets Authority and other regulators to better support economic growth, the competition policy landscape is shifting materially toward an emphasis on a more proportionate and targeted approach to merger enforcement, say lawyers at Macfarlanes.