Corporate Crime & Compliance UK

FCA's New Crypto Rules Could Pave The Way For Bad Actors

The Financial Conduct Authority's new proposed crypto regulatory regime risks increasing consumers' exposure to fraud, terrorist funding and malign state institutions, with the watchdog powerless in practice to do much to stop it, lawyers have warned.

Nationwide's £44M AML Fine Signals FCA's 'Hard Line' Stance

The Financial Conduct Authority's fine of £44 million ($58 million) imposed on Nationwide Building Society for failings in anti-money laundering controls has sent a warning to Britain's largest financial institutions that size and reputation are no protection from the rules, lawyers have said.

FCA Misconduct Update Still Leaves Firms 'In The Dark'

Clarity from the Financial Conduct Authority on the limits of its powers to tackle bullying and harassment will come as a relief to professionals — but lawyers have warned that non-banking companies must now join lenders to broaden staff training, revisit conduct policies and strengthen whistleblowing protocols.

Dropping Juries Will Upend Defense Lawyers' Strategies

The government's decision to drop jury trials for some criminal cases that involve complex financial crime could reshape the approach of lawyers to plea decisions, appeals and advocacy, as well as prompt a shift toward more open justice, experts say.

December 17, 2025
Former Postmistresses Sue Post Office Over IT Scandal

Two former subpostmistresses have sued the Post Office Ltd. for compensation over their wrongful convictions during the Horizon information technology scandal.
December 17, 2025
Trio Face 2028 Trial In Director Disqualification Order Case

Three people heard at a London court Wednesday that they will have to wait until 2028 to stand trial for charges of working together to breach court orders for one of them not to act as a company director.
December 17, 2025
BHP Hit With £189M Legal Costs Bill Over Dam Collapse Case

Lawyers for more than 640,000 individuals argued at court Wednesday that BHP should pay out £189 million ($254 million) of their legal costs after the mining giant was found liable for a dam collapse that triggered Brazil's worst environmental disaster.
December 17, 2025
UK Demands Abramovich Give £2.5B To Ukraine Or Risk Court

The government said Wednesday that Russian billionaire Roman Abramovich must transfer more than £2.5 billion ($3.3 billion) from the 2022 sale of Chelsea Football Club to fund humanitarian efforts in Ukraine, or it will pursue legal action.
December 17, 2025
Financiers Sentenced To 11 Years Over Libyan Fund Fraud

A former U.K. fund manager and a Swiss banker were sentenced to a collective 11 years' imprisonment in their absence at a London court on Wednesday for diverting millions of dollars in improper fees from a Libyan sovereign wealth fund.
December 17, 2025
Funds Dropping ESG Labels Amid EU Greenwashing Review

The European Union's financial markets regulator said Wednesday its new naming guidelines governing how investment funds use environmental, social and governance, and sustainability-related language are curbing greenwashing and improving transparency in the financial sector.
December 17, 2025
UK Watchdog Hands Gov't Plan To Tackle Payments Crime

The Financial Conduct Authority told the Treasury in a letter published Wednesday that it is investing more in intelligence and data to disrupt those committing and enabling crime in the payments sector.
December 17, 2025
Gill Bribery Case Spurs Foreign Political Interference Probe

The U.K. government has announced a new review into foreign interference in domestic politics following the high-profile conviction of the former Welsh leader of Reform UK Nathan Gill for accepting bribes to promote the Kremlin's interests and the unrelated case of lawyer Christine Lee.
December 16, 2025
Visa, Mastercard Say Merchants Too Late To Join Class Action

Visa and Mastercard told Britain's antitrust tribunal Tuesday that a number of merchants should not be allowed to join collective proceedings accusing them of unfairly imposing interchange fees on retailers after the deadline to opt in.
December 16, 2025
Diamond Dealer Modi's New Extradition Challenge Delayed

The latest bid by Nirav Modi to block his extradition over an alleged $2 billion fraud was delayed on Tuesday as a judicial panel said that procedural issues in the litigation meant that the diamond dealer's renewed attempt could not go ahead.
December 16, 2025
5 Questions For Clyde & Co.'s James Roberts

James Roberts' father was a Red Arrows pilot, but the Clyde & Co. LLP team leader says that he wanted a career for himself that was more down to earth, particularly given his fear of heights. Roberts has instead climbed to head up the professional practices group of the law firm.
December 16, 2025
Financiers Convicted Of Defrauding Libyan Sovereign Fund

A former U.K. fund manager and a Swiss banker have been convicted by a jury of fraud for diverting millions of dollars in improper fees from a Libyan sovereign wealth fund, prosecutors said Tuesday.
December 16, 2025
London Gallery Faces Trial In 2028 Over Sanctions Breach

A London art gallery and a logistics company will face trial in 2028 for allegedly providing a contemporary painting to a collector in breach of Britain's ban on making luxury goods available to individuals connected to Russia, a judge said Tuesday.
December 15, 2025
UK Trader Couldn't Have Known Of VAT Fraud, Court Says

Despite its "cavalier approach to due diligence," a scrap metal trader in the U.K. couldn't have known its suppliers were engaged in value-added tax fraud, so it isn't liable for additional tax and penalties, the First-tier Tribunal Tax Chamber said in a decision.
December 15, 2025
FCA Prioritizes Consumer Protection In Planned Crypto Rules

The Financial Conduct Authority proposed Tuesday to sweep in a tough new set of rules to protect consumers who trade crypto-assets while also supporting innovation and global competitiveness.
December 15, 2025
MPs Launch Inquiry Into Large Business Tax Compliance

HM Revenue & Customs is facing an inquiry over its handling of tax compliance among large businesses, a parliamentary committee announced.
December 15, 2025
Briton Faces Second South African Bribery Extradition Trial

A British businessman wanted in South Africa in connection with an alleged £36 million ($48.1 million) government bribery scandal began a renewed fight in a London court Monday over whether he should be extradited to South Africa to face trial.
December 15, 2025
Art Collector Says £14.5M Picasso Bid Voided By Crime Links

An art collector's business has hit back at Christie's in a dispute over a Picasso painting owned by a drug trafficker, denying the auction house's accusation that it has unlawfully refused to fulfill its £14.5 million ($19.4 million) bid for the artwork.
December 15, 2025
SFO's London Mining Bribery Trial Vacated For 2nd Time

A judge agreed on Monday to vacate the upcoming trial in the Serious Fraud Office's prosecution of three individuals in the mining industry for allegedly bribing officials in Sierra Leone, making it possible that the case will not reach jurors before 2027.
December 15, 2025
EY Investigated By FRC Over Audit Of Shell Financial Reports

The accounting watchdog said Monday that it is investigating EY's audit of Shell PLC's financial statements for 2024 after the Big Four firm disclosed that it might have breached critical ethical standards governing an auditor's independence and rotation of partners.
December 12, 2025
Football Must Tackle Exploitation By 'Criminals, Kleptocrats'

Football is ripe for exploitation by criminals and the professional game's exposure to illicit finance is deepening, a security think tank said Friday in a report warning that reform and proportionate regulation are now essential.
December 12, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Shell hit with a climate change claim from 100 survivors of a typhoon in the Philippines, London Stock Exchange-listed Oxford Nanopore bring legal action against its co-founder, and the editors of Pink News sue the BBC for defamation following its investigation into alleged sexual misconduct at the news site.
December 12, 2025
Carter-Ruck Pro Cleared Over Alleged OneCoin SLAPP

A disciplinary tribunal on Friday dismissed allegations that a Carter-Ruck partner improperly threatened to sue a whistleblower who exposed the multibillion-dollar OneCoin cryptocurrency scam, ruling that the case against her "was based on hindsight" rather than misconduct.
December 12, 2025
Northampton Town FC Ex-Chair Denies Fraud Over Club Loan

The former chairman of Northampton Town Football Club and four other men pleaded not guilty in London to fraud charges Friday over allegations that they misled local authorities into loaning millions of pounds for the redevelopment of the team's stadium.
December 12, 2025
FCA Clarifies Guidelines For Non-Financial Misconduct

The Financial Conduct Authority released widely anticipated final guidance on its rules for non-financial misconduct such as bullying, harassment and violence on Friday, including on how far the measures will apply to private life and social media.

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

Decoding Arbitral Disputes: A Paris Ruling Defines Key Limits

Though French arbitration law is highly supportive of arbitral autonomy, last week's Paris Court of Appeal judgment annulling a $14.9 billion arbitral award against Malaysia reaffirms that such support is neither unqualified nor blind to defects striking at the very legitimacy of the arbitral process, says Josep Galvez at 4-5 Gray's Inn.
EU Businesses Face Uncertainty Amid Sustainability Reforms

The European Commission’s sustainability omnibus, due to be approved this month, has brought a year of regulatory upheaval for European businesses, and although the long-awaited scaled-back obligations will provide clarity, a balance between not overburdening reporting companies and the need for data to make sustainable investments must be found, say lawyers at Peters & Peters.
SFO Compliance Guide Highlights Early Remediation Is Key

The Serious Fraud Office’s first external guidance on evaluating corporate compliance programs serves as an important reminder to organizations to keep their compliance measures under close review from the earliest stages of an internal investigation to mitigate the risk of ongoing and future misconduct, says Tom Grodecki at Cadwalader.
How Russia Sanctions Trajectory Is Affecting UK Legal Sector

The proliferation of U.K. and European Union sanctions targeting Russia has led to a vast increase in legislative provisions, and lawyers advising affected businesses should expect a complex and evolving legal landscape for the foreseeable future, says Rob Dalling at Jenner & Block.
EU's AI Omnibus Proposal Offers 10 Key Changes For Cos.

The European Commission’s recent proposal for an artificial intelligence digital omnibus aims to ease compliance burdens by extending timelines and increasing flexibility, bringing relief for midcaps and small and midsize enterprises, while enhanced cooperation requirements for regulators should reduce administrative duties for businesses, say lawyers at Cooley.
Tracking Crypto-Asset Tax Rules In 2025 And Beyond

The past year has seen an increasing amount of regulation in the crypto-asset space, with a range of novel and complex taxation challenges for regulators, and taxpayers can expect a marked increase in HM Revenue & Customs' compliance activity in the year ahead, says Liam McKay at RPC.
2025 UK Merger Reforms Simplify Path For Deals

Dealmakers should laud the 2025 reforms in the U.K. merger control and investment screening landscape, as the Competition and Markets Authority’s renewed focus on economic growth — and on implementing more flexible, streamlined and hands-off procedures — makes planning transactions a more predictable process, say lawyers at Akin Gump.
Train Ticket Class Action Shows Limits Of Competition Law

The Competition Appeal Tribunal's recent judgment in Gutmann v. London & Southeastern Railway, Govia Thameslink Railway and First MTR South Western Trains Ltd. restates the important principle that a high bar is required to demonstrate an abuse of dominance, providing welcome clarification for consumer-facing businesses that competition law is not intended to serve as a general vehicle for consumer protection, say lawyers at Freshfields.
Navigating Legal Privilege Issues When Using AI

The recent explosion in artificial intelligence has led to prompts and AI outputs that may be susceptible to disclosure in proceedings, and it is important to apply familiar principles to assess whether legal privilege may apply to these interactions, say lawyers at HSF.
A Look At Factors Affecting Ombudsman Complaint Trends

Lawyers at Womble Bond provide an analysis of the Financial Ombudsman Service's complaint trends in 2025, highlighting the impact of changes within the FOS and external factors on the financial sector's redress system.
What To Know About FCA's Short Selling Regime Proposals

Although the Financial Conduct Authority’s recent proposals for changes to the U.K. short selling regime do not materially alter the rules, targeted reforms designed to reduce the administrative burden placed on position holders will be welcomed by market participants, say lawyers at McDermott.
CMA's Leniency Guide May Change Self-Report Calculus

The Competition and Markets Authority's updated leniency guide introduces significant changes to bolster cartel enforcement, with incentives to early self-report that will be welcomed by businesses, but the weighty specter of potential class actions could greatly outweigh the discount on administrative fines, say lawyers at Cooley.
Why EU's FDI Screening Proposals Require Careful Balance

The European Commission’s proposals to harmonize EU foreign direct investment screening regimes at the member state level require a trilogue between the commission, Parliament and council, which means political tensions need to be resolved in order to reach agreement on the five key reforms, say lawyers at Arnold & Porter.
Fashion Giants' €157M Fine Shows Price-Fixing Not In Vogue

The European Commission’s recent substantial fining of fashion houses Gucci, Chloé and Loewe for resale price maintenance in a distribution agreement demonstrates that a wide range of activities is considered illegal, and that enforcement under EU competition law remains a priority, says Matthew Hall at McGuireWoods.
OFSI Proposals Signal Greater Focus On Enforcement Activity

The Office of Financial Sanctions Implementation’s proposed financial sanctions reforms, with risks of higher penalties and more stringent disclosure requirements for U.K. banks and companies, reflect the agency’s evolution into a more sophisticated and robust enforcement regulator, says Irene Polieri at Gibson Dunn.