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Corporate Crime & Compliance UK
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May 02, 2025
Ex-UN Judge Gets 6 Yrs For Forcing Woman To Work As Slave
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.
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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.
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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.
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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.
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May 02, 2025
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.
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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.
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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.
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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.
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May 01, 2025
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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April 30, 2025
Lender Says Company Owner Gifted Biz To Son To Evade Debt
A finance provider has sued a businessman for allegedly gifting a company to his son the day after the lender had demanded payment of more than £4.7 million ($6.3 million) under a loan guarantee.
Expert Analysis
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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.
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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.
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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.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.
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New CMA Powers Will Change Consumer Protection Regime
The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
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Opinion
Prospects For New Fraud Prevention Prosecution Look Slim
With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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What To Note In EU Tech Transfer Agreements Consultation
Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.