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Corporate Crime & Compliance UK
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July 11, 2025
UK Election Gambling Cheating Trials Fixed For 2027, 2028
A London criminal judge on Friday told defendants charged with gambling offenses over bets on the timing of the previous U.K. general election on Friday that they will have to wait until 2027 at the earliest for their trials.
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July 11, 2025
Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze
A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.
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July 11, 2025
Staley Tribunal Decision Could Fuel Challenges To FCA Fines
A landmark tribunal ruling that upheld the Financial Conduct Authority's ban of ex-Barclays CEO James "Jes" Staley from banking — but slashed his fine — could ultimately lead other executives with back-loaded pay packages to fight the watchdog's decisions, lawyers say.
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July 10, 2025
Russian Banker Inks Sanctions DPA After FBI Botches Warrant
The founder of Bank Otkritie on Thursday secured a deferred prosecution agreement with Manhattan federal prosecutors to resolve allegations of assisting the head of Russian state-backed lender VTB Bank in evading U.S. sanctions, just a month after a swath of email evidence was thrown out over a botched FBI search warrant.
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July 10, 2025
Ninth Person Convicted In €2.3M German VAT Fraud
A German court has convicted the ninth individual linked with a €2.3 million ($2.7 million) value-added tax fraud scheme involving international trade of cars, European Union prosecutors announced Thursday.
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July 10, 2025
14 Arrested Over Suspected Phishing-Tied Tax Fraud Scheme
Fourteen people have been arrested as part of an international investigation into a large-scale tax fraud operation that used personal data stolen in phishing attacks, the U.K. tax authority announced on Thursday.
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July 10, 2025
Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers
A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.
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July 10, 2025
Four Arrested Over Cyberattacks On M&S, Co-Op and Harrods
The National Crime Agency arrested four people on Thursday for their suspected involvement in cyberattacks that targeted retail giants Marks & Spencer, the Co-op and Harrods.
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July 10, 2025
UK Watchdog Investigating Deloitte, Azets Over Stenn Audits
The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.
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July 10, 2025
Signature Hires 2 Pros For New White Collar Crime Practice
Signature Litigation LLP said Thursday that it has hired two new partners from Goodwin Procter LLP and Cadwalader Wickersham & Taft LLP in London to spearhead the launch of a new global white collar crime practice.
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July 10, 2025
EU Prosecutors Detain 8 Individuals In €68M VAT Fraud Probe
European Union prosecutors revealed Thursday that they have detained eight people in Spain for their alleged involvement in a €68 million ($80 million) value-added tax fraud linked to alcohol imported from other member states.
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July 10, 2025
Housebuilders To Pay £100M After CMA Info-Sharing Probe
A group of housing developers has agreed to pay a record £100 million ($136 million) to build affordable homes after an investigation into suspected illegal information sharing by Britain's competition watchdog.
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July 09, 2025
OFAC Fines Tech Co. $1.4M Over Iran Sanctions Violations
Harman International Industries Inc. has agreed to pay more than $1.4 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that various compliance deficiencies at the audio electronics company contributed to Iran sanctions violations.
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July 09, 2025
Sweden Wins €60M Pension Fraud Case Against Financier
A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.
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July 09, 2025
Insurers Argue $37M Liability Void Over Director's Charges
Six insurers told an appeals court Wednesday they should not have to pay $37 million to the owners of a cargo ship seized by the Indonesian navy because the policy was rendered void by the owner's failure to disclose that its director faced criminal charges.
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July 09, 2025
BoE Flags Cyber Risk Blind Spots In Stress Test
The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.
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July 09, 2025
Mastercard Unit Fined £12M Over Compliance Failures
The Bank of England said Wednesday that it has slapped an £11.9 million ($16.2 million) fine on Mastercard's U.K. payment systems operator Vocalink, in what the central bank called a first for a financial infrastructure company.
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July 09, 2025
Lawyers Warn Jury-Free Trials Won't Solve Court Backlog
Proposals to create a new division of court without juries will not solve the backlog of cases facing the criminal justice system without long-term investment to undo systemic underfunding, lawyers warned Wednesday.
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July 08, 2025
Fraud Trials Without Juries At Heart Of Radical Court Reform
A landmark independent review of England's ailing criminal court system on Wednesday called for serious and complex fraud cases to be tried by judge alone and the creation of a new category of court without juries.
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July 08, 2025
Post Office Blamed For Adversarial Stance To Scandal Claims
The Post Office and its advisers adopted an "unnecessarily adversarial attitude" to those seeking financial redress for the Horizon IT scandal, according to the first findings published Tuesday by the public inquiry into what has been labeled the worst miscarriage of justice in U.K. modern history.
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July 08, 2025
Oil Co. Says Nigeria Shouldn't Profit From £44M Legal Bill
An oil and gas company at the center of a fraud scandal arising from an $11 billion arbitration award issued against Nigeria urged the U.K.'s highest court Tuesday to change the currency for Nigeria's legal costs, arguing that the country would unjustly benefit from the depreciation of its own currency.
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July 08, 2025
Ban On Misconduct NDAs Throws Settlements Into Question
The government's proposal to void nondisclosure agreements covering alleged harassment and discrimination at work will discourage employers from settling claims, putting more pressure on tribunals and early conciliation services.
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July 08, 2025
Ex-Axiom Chief Ordered To Pay £5M SRA Intervention Costs
A London court ordered the former chief of Axiom Ince Ltd. to pay the multimillion-pound cost of regulatory intervention into the firm on Tuesday after concluding that he was involved with its misuse of £65 million ($88 million) of its clients' cash.
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July 08, 2025
Monzo Bank Fined £21M For Financial Crime Failings
The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.
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July 07, 2025
Malaysia Info Demand Gets Green Light In $14.9B Dispute
A Delaware judge has declined to nix an order allowing units of Malaysia's national energy company to seek discovery relating to a third-party funding deal that led to a $14.9 billion arbitral award issued against Kuala Lumpur following a territorial dispute stemming from a 19th-century land deal.
Expert Analysis
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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.
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Takeaways From Upcoming Payment Fraud Delay Legislation
Lawyers at Hogan Lovells discuss what to know about new legislation that will allow payment service providers to delay payments when third-party fraud is suspected, and share pointers for providers to consider ahead of the Oct. 30 effective date.
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What New EU Packaging Regulation Will Mean For Companies
The forthcoming Packaging and Packaging Waste Regulation aims to regulate the entire life cycle of products from design to end-of-life waste, and will present particularly challenging deadlines for organizations, especially regarding recyclability and substances of concern, say Marcus Navin-Jones and Ward Overlaet at Crowell & Moring.
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Modernizing UK Trade Settlement Standard: The Road Ahead
Andrew Tsang and Tom Bacon at BCLP consider the rationale and challenges of a potential U.K. trade settlement acceleration, part of an initiative to modernize the financial market infrastructure, and suggest that incorporating distributed ledger technology as a synchronized recording system would facilitate the move.