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Corporate Crime & Compliance UK
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December 18, 2025
Justices Dismiss 'Weak' £2.7B FX Claim Against Major Banks
The U.K. Supreme Court held Thursday that the merits of a £2.7 billion ($3.6 billion) opt-out collective action against major banks over alleged foreign exchange-rigging are "weak" and that the case should not have been allowed to continue.
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December 17, 2025
Ex-Goldman Banker Can't Dodge Ghana Bribery Charges
A New York federal judge on Wednesday shot down a former Goldman Sachs banker's bid to escape charges over a purported scheme to bribe Ghanaian officials to greenlight a power plant deal, rejecting defense claims of improper sealing and speedy trial violations.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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December 16, 2025
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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December 15, 2025
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.
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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.
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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.
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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.
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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.
Expert Analysis
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EU Report May Influence Regulation Of Decentralized Finance
The European supervisory authorities’ recent report on decentralized finance highlights the major regulatory challenges and increased cybersecurity risks of this ecosystem, and will likely provide useful guidance on how the market could be regulated to limit potential risks for investors, say Hubert de Vauplane and Hugo Bordet at Morgan Lewis.
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EU Paper Urges Data Protection And Competition Law Unity
A recent European Data Protection Board position paper calls for closer cooperation among data protection and competition authorities, and provides valuable insight for businesses seeking to ensure compliance across an increasingly complex regulatory landscape, say lawyers at Paul Weiss.
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Market Infrastructure Regs Aim To Reinvigorate EU Trading
The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Why EU Omnibus Package Is Receiving Mixed Reactions
Although the forthcoming European Union omnibus simplification package consolidating corporate sustainability reporting requirements aims to reduce the regulatory burden on businesses, reaction to the proposals has been mixed, and reassurance is needed that these measures will not result in a watering down of the legislation, say lawyers at Peters & Peters.
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Review Of Computer Evidence Use Raises Complex Issues
The Ministry of Justice’s recent call for a review of computer-generated evidence used in criminal proceedings, solicits questions of how such evidence will be defined while also ensuring that changes can withstand technological advances and uphold the effective functioning of the criminal justice system, say lawyers at BCL Solicitors.
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How Proposed Private Share Trading System May Benefit Cos.
The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.
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New Bill Introduces Important Whistleblower Protections
If enacted, a bill that proposes the establishment of an independent whistleblower office in the U.K. offering protected disclosures will encourage individual whistleblowers, and alleviate the pressure for companies to investigate complaints, say lawyers at Tenet Law.
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Important Changes To Note In Accountant Ethics Code Update
The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.
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What EU Sustainable Category Proposals Will Mean For Funds
The European Union Platform on Sustainable Finance’s recent proposals to apply stricter product categorization standards for funds subject to the Sustainable Finance Disclosure Regulation will assist retail investors in selecting sustainable products, and allow advisers to easily match their clients’ preferences, say lawyers at Debevoise.
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What To Expect As CAT Considers Mastercard Settlement
It is expected that the Competition Appeal Tribunal will closely scrutinize the proposed collective settlement in Merricks v. Mastercard, including the role of the case’s litigation funder, as the CAT's past approach to such cases shows it does not treat the process as a rubber stamp exercise, say lawyers at BCLP.
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Managing Transatlantic Antitrust Investigations And Litigation
As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.
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What 2025 Holds For UK, EU Restructuring And Insolvency
European Union and U.K. restructuring developments in 2024, with a new era of director accountability, the use of cramdown tools and the emergence of aggressive liability management exercises, mean greater consideration of creditors' interests and earlier engagement in restructuring discussions can be expected this year, says Inga West at Ashurst.
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What To Know As EU Urges Outbound Investment Reviews
A recent European Commission recommendation urges European Union member states to review outbound investments in certain critical technologies sectors, but does not clarify the next steps for states once information on relevant transactions in third countries is received, say lawyers at Cleary.
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Competition Act Brings Important UK Merger Control Changes
Although recently effective sections of the Digital Markets, Competition and Consumers Act provide clarity on the transactions that may attract Competition and Markets Authority attention, some reforms potentially expanding the regulator's scope may be concerning to transacting parties, say lawyers at Fried Frank.