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Corporate Crime & Compliance UK
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July 29, 2025
EU Watchdog Finds Failings In AML Defenses At Crypto-Firms
The banking watchdog of the European Union has warned that many crypto-asset companies lack effective anti-money laundering systems, reporting that abuse of services in the sector for financial crime is a major concern.
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July 29, 2025
FCA Sues Property Biz Over £23M Investment Scheme
The City watchdog said Tuesday that it has taken Concept Capital Group to a London court over an alleged unauthorized £23 million ($30 million) investment scheme related to static homes.
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July 29, 2025
Shvidler Loses Landmark UK Sanctions Challenge
Britain's highest court upheld sanctions against billionaire oil tycoon Eugene Shvidler in a landmark ruling on Tuesday that backs the U.K. government's authority to impose the restrictions over Russia's invasion of Ukraine.
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July 28, 2025
Fraud Claims 'Smaller Slice' As Crypto Litigation Booms
As litigation involving cryptocurrency significantly increases, fraud cases represent a lesser share of the total number of crypto disputes, according to a report published Monday by CMS Cameron McKenna Nabarro Olswang LLP.
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July 28, 2025
Ex-Telecom Manager Can't Shield ID In Whistleblowing Claim
A manager who was made redundant by the U.K. branch of a Chinese state-owned telecommunications operator can't remain anonymous as he brings whistleblowing claims, an employment tribunal has ruled.
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July 28, 2025
EU Says Temu Failing To Prevent Sale Of Illegal Products
Temu has failed to properly assess the risks of illegal products being sold on its marketplace, including non-compliant baby toys and small electronics, according to preliminary findings from the European Commission published Monday.
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July 28, 2025
Citigroup Defends $16M VTB Russian Securities Sale Losses
Citigroup has denied claims that it caused a VTB Bank subsidiary to lose almost $16 million by taking an irrational approach to liquidating securities after the Russian lender defaulted on a demand for collateral amid market volatility following Vladimir Putin's invasion of Ukraine.
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July 28, 2025
UK Man Denies Making Crypto Transfers To Russian Militias
A British-Russian national who allegedly funded pro-Russian militia groups in occupied eastern Ukraine through bitcoin payments on Monday denied breaching the U.K. sanctions regime.
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July 28, 2025
Investment Boss Told To Pay Back £170K From £37M Fraud
A director of an ethical investment scheme imprisoned for defrauding investors out of £37 million ($50 million) was ordered by a court on Monday to pay back £170,000 or have two years added to his sentence.
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July 28, 2025
Allianz Life Hack Attack Exposes Most Clients' Info
Insurance giant Allianz has said that hackers have stolen personal data from most of its 1.4 million customers in America after cybercriminals hacked into a third-party system used by its U.S. subsidiary.
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July 28, 2025
European Reinsurer Fined £1.79M Over Post-Brexit Failings
The Bank of England's regulatory arm said on Monday that it has fined the London branch of a Luxembourg-based reinsurer £1.79 million ($2.4 million) for failing to have adequate controls in place during Britain's exit from the European Union.
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July 27, 2025
Suspected Trading Scam 'Mastermind' Can't Block Extradition
An Israeli accused of being the "mastermind" behind call centers that allegedly scammed investors out of €14 million ($16 million) by posing as trading platform employees lost a bid on Friday to block his extradition to Germany from the U.K.
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July 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the owner of a £6 million ($8 million) mansion once rented by Adele sue real estate consultants Strutt & Parker, Romanian-Australian mining investor Vasile Frank Timis bring a claim against reputation and privacy firm Schillings, and a Chinese businessman bring a legal action against his former lawyer over an alleged £12.5 million mortgage fraud.
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July 25, 2025
FCA Fines Former H2O Exec £1M And Bars Him From Industry
The U.K.'s financial watchdog said Friday that it has banned a former senior executive of asset manager H2O from the financial industry and fined him £1.05 million ($1.41 million) for misleading the regulator about risky investments linked to financier Lars Windhorst.
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July 25, 2025
Car Makers Must Reveal Internal Docs In Dieselgate Trial
Motorists and campaigners won their bid Friday to force car manufacturers to disclose documents and pleadings in the upcoming Dieselgate trial, with the High Court ruling that the public interest in understanding the emissions case outweighs any commercial sensitivity.
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July 25, 2025
Bahraini Bank Worker Loses Whistleblowing Case Over Delay
A short-lived employee of a Bahraini bank has lost his bid to sue his former employer, as a London tribunal ruled he waited too long to bring his claim he was fired for whistleblowing.
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July 25, 2025
Odey's Libel Claim And Sex Assault Case To Have Joint Trial
Hedge fund manager Crispin Odey's £79 million ($106.2 million) libel claim against the Financial Times will be tried jointly with claims by five women accusing him of sexual abuse, a London judge ruled Friday.
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July 25, 2025
AXA Wins £675M Missold PPI Payout Fight With Santander
AXA has won a £675 million ($907 million) battle with Santander to recover payouts for wrongly sold payment protection insurance as a London court ruled that the Spanish banking giant was liable for "systemic failings" in historical sales of the policy.
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July 25, 2025
MoD Official Named As New Companies House CEO
Senior Ministry of Defence official Andy King has been appointed as chief executive of Britain's official business registrar as it seeks to toughen its stance on financial crime.
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July 24, 2025
SportPesa Chair Claims Stake Dilution Was Deliberate Fraud
The former chair of online betting company SportPesa was the victim of an unlawful scheme to dilute his valuable stake in the company, his lawyer said in closing submissions at a London trial on Thursday.
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July 24, 2025
Traders' Win Casts Doubt On Plans For No-Jury Fraud Trials
Repeated failure by the courts to ensure that two former traders imprisoned for rigging benchmark interest rates were given a fair trial has fueled criticism of radical reforms to roll back jury trials in complex fraud cases to ease pressure on the judicial system.
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July 24, 2025
Four Traders Plan Appeals After Justices Quash Convictions
Four City traders convicted of manipulating benchmark interest rates plan to file new challenges against their verdicts after the U.K. Supreme Court ruled that two former bankers in similar cases failed to receive a fair trial.
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July 24, 2025
Fintech Execs Deny Misleading Bank In £4M Fraud Claim
Defunct fintech startup BrickVest Ltd. and its co-founders have denied allegations brought by a German specialist property lender in a £4.2 million ($5.7 million) London claim that they hid additional investment in the business before its collapse.
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July 24, 2025
Amazon To Face £4B Dual Class Actions In UK
The U.K.'s competition court gave the green light on Thursday to two class actions against Amazon, totaling £4 billion ($5.4 billion), alleging that the e-commerce giant abused its dominant market position to the detriment of retailers and consumers.
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July 24, 2025
German Court Convicts 4th In €195M VAT Fraud Scheme
A fourth person has been convicted in connection with a €195 million ($229.3 million) value-added tax fraud scheme, this time in a German regional court, the European Public Prosecutor's Office said.
Expert Analysis
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Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
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Behind The Stagecoach Boundary Fare Dispute Settlement
The Competition Appeal Tribunal's recent rail network boundary fare settlement offers group action practitioners some much-needed guidance as it reduces the number of remaining parties' five-year dispute from two to one, says Mohsin Patel at Factor Risk Management.
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Assessing The Energy Act 2023, Eight Months On
Although much of the detail required to fully implement the Energy Act 2023 remains to be finalized, the scale of change in the energy sector is unprecedented, and with the U.K. prioritizing achieving net-zero, it is likely that developments will continue at pace, say lawyers at Paul Hastings.
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Decoding Arbitral Disputes: Spanish Judicial Oversight
The recent conviction of arbitrator Gonzalo Stampa underscores the critical importance of judicial authority in the realm of international arbitration in Spain, and emphasizes that arbitrators must respect the procedural frameworks established by Spanish national courts, says Josep Galvez at 4-5 Gray’s Inn.
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Opinion
Why Timing Makes UK Libor Judgments Controversial
The recent U.K. Court of Appeal decision in the R v. Hayes and Palombo appeal against Libor convictions demonstrates that had U.K. regulators probed with the facts known today, civil claims in all jurisdictions would be dismissed and a decadelong wasted investigation should be put to rest, says Charles Kuhn at Clyde & Co.
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Tips For Orgs Using NDAs In Light Of New UK Legislation
The recent passage of the Victims and Prisoners Act follows a crackdown on the misuse of nondisclosure agreements, but although NDAs are not prohibited and regulators recognize their legitimate justification, organizations relying on them must be able to clearly explain that justification if challenged, say attorneys at Macfarlanes.
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Comparing UK, EU Digital Products Cybersecurity Approaches
New U.K. and EU legislation impose different cybersecurity requirements on manufacturers of connectable products, but despite its higher overall standard and holistic approach, organizations should be aware that compliance with the EU act does not necessarily mean satisfying the U.K. regime, says Christopher Foo at Ropes & Gray.
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Lessons From Epic's Dutch Fine For Unfair Marketing To Kids
Dutch regulators' imposition of a €1.1 million fine on Epic Games for unfair commercial practices targeting children marks a significant moment in the ongoing scrutiny of digital market practices, and follows an increased focus on children's online safety in the U.S. and European Union, say attorneys at Crowell & Moring.
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Risks And Promises Of AI In The Financial Services Industry
Generative artificial intelligence has immense potential to revolutionize the financial services industry, but firms considering its use should first prepare to show their customers and the increasingly divided international regulatory community that they can manage the risks inherent to the new technology, say attorneys at Gibson Dunn.
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EU Anti-Greenwashing Guide Analyzed For Fund Managers
Anna Maleva-Otto and Matthew Dow at Schulte Roth explain how the European Securities and Markets Authority’s new guidelines on sustainability-related terms in fund names aim to protect European Union investors from unsubstantiated claims, and how they provide quantifiable criteria for determining which terms can be used to promote their funds.
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FCA 'Finfluencer' Trial Exposes Social Media Promo Risks
The upcoming Financial Conduct Authority prosecution of nine individuals for Financial Services and Markets Act 2000 violations is the first time an online influencer will be tried for using social media to promote investments, demonstrating the need to be wary of the specific legal requirements surrounding financial product promotion, says David Claxton at Red Lion.
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Appeal Ruling Clarifies 3rd-Party Contract Breach Liability
The Court of Appeal's recent decision in Northamber v. Genee World serves as a warning to parties that they may be held liable for inducing another party to breach a contract, even if that party was a willing participant, say Neil Blake, Maura McIntosh and Jennifer O'Brien at HSL.
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How Law Firms Can Handle Challenges Of Mass Claims
With a wave of volume litigation possibly about to hit the U.K. courts, firms developing mass claim practices should ensure they heed the Solicitors Regulation Authority's May warning and adopt strategies to ensure regulatory compliance and fair client representation, says Claire Van der Zant at Shieldpay.
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EU Directive Significantly Strengthens Enviro Protection
The recently revised European Union directive on environmental protection significantly strengthens its prior legislation and broadens the scope of environmental crime through the introduction of offenses for conduct resulting in severe damage, say Katharina Humphrey and Julian Reichert at Gibson Dunn.
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How Revision Of The EU Works Directive May Affect Cos.
The European Union’s proposed revision of the Works Councils Directive, motivated by perceived shortcomings of existing legislation and the transformation of the world of work, includes significant changes that would increase workers' rights, including through strengthened enforcement and confidentiality provisions, says Thomas Player at Eversheds Sutherland.