Corporate Crime & Compliance UK

Financial Analyst Working on Computer with Multi-Monitor Workstation

Draft UK Crypto-Regulations Facing Teething Troubles

The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.

Campaigners for For Women Scotland outside the Supreme Court in London

5 More Things For Employers To Consider After Sex Ruling

The ruling in April by the U.K. Supreme Court on the legal definition of a woman will compel employers to rethink much more than who uses what toilet, lawyers say.

FCA Set To Get Enforcement Boost From New Fraud Offense

The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.

Nick Ephgrave, director of the Serious Fraud Office

Fess Up, Or Wait And See? SFO Policy Shift Stirs DPA Debate

The Serious Fraud Office's "cast iron" promise that companies self-reporting wrongdoing will duck prosecution could lead to a new wave of settlements — but only if other controversial reforms push businesses to the negotiation table, lawyers say.

May 02, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Premier League football club Newcastle United FC sue the owner of the land next to its stadium, Laurence Fox face a defamation claim by TV presented Narinder Kaur and a further sexual assault claim filed against actor Kevin Spacey.
May 02, 2025
Nexans Accused Of Overcharging For Cables In £49.8M Trial

Companies behind an English windfarm have alleged that the Norwegian arm of power cable giant Nexans charged artificially high prices as a result of an anticompetitive cartel, in a trial in which they are claiming £49.8 million ($66.2 million) in damages.
May 02, 2025
Senior E.ON, British Gas Staff Jailed For £2M Bribery Scheme

Two senior ex-employees of energy giants E.ON and British Gas have been handed prison sentences for accepting more than £2 million ($2.7 million) worth of bribes in exchange for commercial contracts.
May 02, 2025
Ex-UN Judge Gets 6 Years For Modern Slavery Offenses

A former United Nations judge was sentenced to more than six years in prison on Friday after being found guilty of modern slavery offenses, including forcing a woman to work as her maid and conspiring to violate U.K. immigration law, the Crown Prosecution Service said.
May 02, 2025
FCA Proposes Curb On Purchase Of Crypto-Assets On Credit

The Financial Conduct Authority proposed on Friday to restrict how far cryptocurrency companies could go in allowing consumers to buy crypto-assets on credit, part of its planned regulatory regime for the sector.
May 02, 2025
EY Can Reveal $9.7B Settlement At UAE Health Biz Fraud Trial

EY won an attempt on Friday to reveal a $9.66 billion settlement inked by a United Arab Emirates health care business and senior company officers accused of a $4 billion fraud as it defends itself against allegations it failed to stop the alleged wrongdoing.
May 02, 2025
Govia Thameslink Loses Bid To Cross-Examine Class Rep

Britain's antitrust tribunal refused Govia Thameslink Railway Ltd. permission to cross-examine the campaigner representing rail passengers in a class action over allegedly unfair ticket prices, saying it was unpersuaded there has been "serious mismanagement" of the case.
May 02, 2025
Bank Sues Fintech Execs For Fraud Over £4M Investment

A German specialist property lender has sued the co-founders of a financial technology startup for £4.2 million ($5.6 million) in London over claims that the former investment bankers hid the fact they had obtained additional investment in their business prior to its collapse.
May 02, 2025
Russell Brand In Court On Rape, Sexual Assault Charges

Former actor and comedian Russell Brand was granted bail as he appeared at a London court on Friday to face charges of rape, sexual assault and indecent assault.
May 01, 2025
Janus Analyst Accused Of Insider Trading Denies Hiding Deals

Prosecutors dismissed a former Janus Henderson analyst's claim he had not disclosed trades allegedly made with insider information because he regarded his employer's trading compliance policies to be "window dressing," saying on Thursday that the "simple explanation" was that he had wished to keep them secret.
May 01, 2025
ECB Says Consumers Ready To Avoid US Goods Over Tariffs

European consumers are prepared to avoid American goods for the long term, following the impact of tariffs imposed by the U.S. administration, according to a survey by the European Central Bank.
May 01, 2025
Lawyer Bids To Ax 'Greedy' Allegation In $11B Award Ruling

A solicitor asked the Court of Appeal on Thursday to strike out references to his being "greedy" and "corrupt" in a judgment over a fraudulent arbitration award against the Republic of Nigeria, arguing that these comments breached his due process rights.
May 01, 2025
Cross-Border Payments Firms Lack Transparency, FCA Says

Companies offering international money remittance and cross-border payment services often fail to explain their fees clearly and should consider making improvements under the Consumer Duty, the Financial Conduct Authority said Thursday.
May 01, 2025
UK Crypto-Asset Business Shut Down For International Fraud

Crypto-asset company BTCMining has been shut down by a court in England after complaints from across the globe that it did not pay out their returns, according to the Insolvency Service.
May 01, 2025
Ex-Solicitor Gets Prison For Pocketing £160K In Client Money

A former solicitor who duped more than 300 clients over three years into paying more than £160,000 ($213,000) into her personal bank account rather than to her firm has been jailed for two-and-a-half years, police have said.
May 01, 2025
Ex-NCA Official Denies Claiming He Was Spy For Top Job

A former National Crime Agency official pleaded not guilty to fraud charges on Thursday — allegations that he lied about being an intelligence analyst for Britain's spy agency when he applied for a senior position in the U.K.'s maritime security service.
April 30, 2025
Calif. Privacy Agency Inks Cooperation Pact With UK Authority

The California Privacy Protection Agency has taken its latest step toward boosting its collaboration with data protection authorities around the world, announcing Tuesday that it had reached an agreement with the U.K.'s privacy regulator to compare investigative methods, research into new technologies and other vital tools.
April 30, 2025
Ex-Janus Analyst Insists Cash Was For Father's Business

A former analyst for asset management company Janus Henderson told jurors that £198,000 ($264,100) in cash — alleged by the Financial Conduct Authority to be dirty money — was for his father's construction business, denying the FCA's accusation.
April 30, 2025
EU Busts $10M VAT Fraud Ring Involving Chinese Imports

The European Anti-Fraud Office and Polish authorities uncovered a value-added tax fraud ring that exploited European Union rules to dodge over 38.2 million Polish zloty ($10.1 million) in value-added taxes on goods imported from China, they said Wednesday.
April 30, 2025
Cyberattack Forces Co-op Legal Services To Restrict Access

The Co-operative Group said Wednesday that measures it took to restrict access to key internal systems caused delays within its legal services arm, after the company took action to minimize the threat from an attempted cyberattack.
April 30, 2025
Briton Staves Off S. African Extradition In £36M Bribery Case

A Briton wanted in South Africa to face charges regarding an alleged £36 million ($48 million) government bribery scandal has successfully challenged his extradition, with a London court ruling Wednesday that the wrong authority had requested the extradition.
April 30, 2025
FCA Says Meta Slacking In The Removal Of Suspect Ads

The Financial Conduct Authority named Facebook owner Meta on Wednesday as the biggest laggard among the big tech companies in terms of responding to requests to take down material from "finfluencers" about whom the watchdog had issued warnings.
April 30, 2025
HMRC Should Use AI To Boost Services, Report Says

HM Revenue & Customs is still not doing enough to improve its services and should prepare to use artificial intelligence to enhance customer service for U.K. taxpayers and increase its productivity, according to a parliamentary report.
April 30, 2025
SFO Arrests 3 In Bribery Probe Tied To Microsoft Center

The Serious Fraud Office arrested three people on Wednesday in an international bribery investigation into allegations that a British infrastructure company made £3 million ($4 million) in corrupt payments in connection with construction of a data center used by Microsoft.
April 30, 2025
UK Finance Sector Calls For Cuts To Audit Regulation

A group of finance and corporate trade bodies urged the government on Wednesday to reduce and simplify regulation of auditors to support U.K. growth.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

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.
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.
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.
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.
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.
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.
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.
US Diversity Policies Present Challenges To UK And EU Cos.

Following President Donald Trump’s recent executive orders calling for increased scrutiny of diversity, equity and inclusion initiatives, it is clear that global businesses operating in the U.K. and European Union will need to understand regional nuances to successfully navigate differing agendas on either side of the Atlantic, say lawyers at Jenner & Block.
Updated EU Procedure Streamlines Data Transfer Approval

The European Data Protection Board’s updated approval procedure for binding corporate rules for transfers of personal data to non-European Union countries promotes consistency for regulator communications during the application process, and sets expectations for processing timelines, say lawyers at Hogan Lovells.
What Cos. Must Note From FCA Bulletin On Leaking M&A Info

The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
FCA's Odey Decision Is Wake-Up Call For Financial Firms

The Financial Conduct Authority recently banned hedge fund boss Crispin Odey from working in financial services, underscoring the critical importance the regulator places on whether individuals are fit and proper to perform regulated activities, and the connection between nonfinancial misconduct and the integrity of the financial markets, say lawyers at Pallas Partners.
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.
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.
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.
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.