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Corporate Crime & Compliance UK
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January 09, 2025
Tech Biz Says Barrister Failed To Flag Law Firm's Negligence
A tech company has accused a barrister of failing to spot his instructing law firm's alleged negligence, telling a London court that this armed the law firm with a limitation defense that cut the value of an eventual settlement.
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January 09, 2025
Pair Face COVID Vaccination Fraud Charges In Court
Two men appeared in court Thursday on charges following a joint National Crime Agency and National Health Service England investigation into the creation and sale of fraudulent COVID-19 vaccination records during the height of the pandemic.
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January 09, 2025
UK To Introduce Sanctions Law Targeting People-Smuggling
The U.K. government will create a new sanctions regime to target people-smuggling networks, clamping down on the finances of organized crime groups as it seeks to curb illegal migration, the foreign secretary said Thursday.
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January 09, 2025
SFO To Claw Back £1M From Solicitor Convicted Of Fraud
A lawyer who was imprisoned for 14 years for siphoning off investors' money through a fraudulent offshore "get-rich-quick" legal aid scheme will repay victims more than £1 million ($1.23 million), the Serious Fraud Office said Thursday.
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January 09, 2025
BoE Pledges To Get Tough On Cyberthreat, Climate Change
The Prudential Regulation Authority wrote to chief executives in the insurance sector on Thursday, setting out tough regulatory priorities for 2025, as it seeks better resistance to cyberthreats and greater management of climate-change risk.
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January 09, 2025
Admiral Casino To Pay £1M For AML Regulatory Failures
Online gambling firm Admiral Casino has been hit with a £1 million ($1.2 million) penalty for failing to set up anti-money laundering protection and failures in establishing spending limits and financial checks for vulnerable customers, the Gambling Commission said Thursday.
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January 08, 2025
Lawyer Accused Of AML Failings And Accounts Rules Breach
England's solicitors watchdog told a tribunal Wednesday that a lawyer lied about anti-money laundering failings and used his firm's client account as a banking facility to hold more than £2 million ($2.7 million) for a client.
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January 08, 2025
Prosecutors Say Keltbray Managers Took £600K In Kickbacks
A worker agency boss gave kickbacks to construction site managers in various projects, including the Battersea Power Station redevelopment, in exchange for them sub-contracting his staff, prosecutors told the opening of a £600,000 ($742,000) bribery trial Wednesday.
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January 15, 2025
Charles Russell Hires Disputes Pro From Swiss Firm
Charles Russell Speechlys LLP has hired a dispute resolution specialist from Altenburger Ltd. Legal + Tax in Switzerland as the firm looks to continue growing its business internationally.
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January 08, 2025
EU Commission To Pay €400 For Sending IP Address To Meta
A European Union court ordered the bloc's commission on Wednesday to pay a German citizen €400 ($412) in compensation for operating a website that disclosed his IP address to Meta in breach of its own data regulations — a first for the executive branch.
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January 08, 2025
JPMorgan Denies Unfairly Sacking Trader In Fraud Crackdown
Banking giant JPMorgan defended itself on Wednesday against unfair dismissal allegations from an ex-trader, denying claims that it fired the employee without a proper investigation over suspicions of fraud because it was trying to appease regulators.
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January 08, 2025
Met Police Investigated Over Handling Of Al-Fayed Complaints
The national police watchdog said on Wednesday that it is investigating the Metropolitan Police's handling of sexual misconduct allegations against Mohamed al-Fayed, the former owner of Harrods department store and Fulham Football Club who died in 2023.
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January 08, 2025
UK Watchdog Bans Advert Featuring Burning Dollars
The Advertising Standards Authority said Wednesday that it has banned adverts by online investment platform Wahed Invest Ltd. showing U.S. dollar and euro banknotes on fire because they are likely to cause serious offense.
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January 07, 2025
Shein GC Avoids Labor Abuse Claims At UK Inquiry
Fashion retailer Shein was excoriated by MPs after it offered few answers to accusations of labor abuses in its supply chains at a parliamentary inquiry on Tuesday.
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January 07, 2025
Latham Loses Antitrust Pro To Sidley In Latest Exit
Sidley Austin LLP said Tuesday that it has hired an antitrust partner from Latham & Watkins LLP to its Brussels office — the latest lawyer to jump ship from Latham to its U.S. rival.
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January 07, 2025
'I Was Crap At My Job,' Trader Says In £200M Dirty Money Trial
The former director of a gold trading business has denied trying to cover up a £200 million ($250 million) money laundering scheme, telling a criminal trial on Tuesday that he was simply bad at his job.
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January 07, 2025
Solicitor Told 'Client' To Make False Asylum Claim, SRA Says
A lawyer advised someone he believed to be a client to provide a fake story to support a British asylum claim, the Solicitors Regulation Authority alleged at a disciplinary tribunal in London on Tuesday.
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January 07, 2025
Law Firm Fined £28K For Not Complying With AML Laws
An English law firm has been fined for failing to implement adequate measures to protect it from being exposed to money laundering and terrorist financing, the Solicitors Regulation Authority has said.
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January 07, 2025
Finance Sector Seeks To Limit EU Technology Rules
Finance trade bodies in Europe have urged lawmakers to exclude digital-based financial services from a new European Union regime that will strengthen cyber-resilience in finance when it starts in January because it would overlap with existing rules.
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January 07, 2025
Hundreds Sue Payroll Biz Zellis Over Software Cyberattack
A group of more than 450 employees of organizations including the BBC, British Airways and high street pharmacist Boots have sued Zellis, a payroll and human resources provider, alleging that it failed to prevent a cyberattack.
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January 07, 2025
Hundreds Of McDonald's Crew Join Group Harassment Claim
More than 700 young workers at McDonald's have joined a group harassment claim against the fast food giant as the company's chief executive told MPs on Tuesday that the allegations are "isolated incidents."
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January 06, 2025
Odey Sues FT For £79M Libel After Sexual Misconduct Claims
Hedge fund manager Crispin Odey has sued the Financial Times for £79 million ($99 million), claiming the newspaper published libelous articles containing a string of allegations that he sexually assaulted or harassed multiple women.
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January 06, 2025
Pallas Partners Promotes 2 Lawyers In London To Partnership
Pallas Partners LLP said Monday it has promoted two lawyers in its office in London to its partnership, adding to the ranks of the senior lawyers who will take the business forward in the coming years.
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January 06, 2025
Ex-Entain CEO Sues Gambling Watchdog Over Bribery Reveal
Two former top executives at the predecessor of betting giant Entain have sued the Gambling Commission over claims that the regulator misused their private information by disclosing an investigation into potential bribery.
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January 06, 2025
HMRC Faces £20M Libel Case Over Asahi Cargo Fraud Report
A British logistics company has sued HM Revenue and Customs for as much as £20 million ($25 million), alleging that the tax authority damaged its business by falsely accusing it of dodging tax on shipments of Asahi beer.
Expert Analysis
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What Steps Businesses Can Take After CrowdStrike Failure
Following last month’s global Microsoft platform outage caused by CrowdStrike’s failed security software update, businesses can expect complex disputes over liability resulting from multilayered agreements and should look to their various insurance policies for cover despite losses not stemming from a cyberattack, says Daniel Healy at Brown Rudnick.
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Drafting Settlement Agreements That Avoid Future Disputes
Several recent U.K. rulings highlight the importance of drafting precise settlement agreements to prevent time-consuming and costly disputes over what claims the agreements were meant to cover, says Michelle Radom at Osborne Clarke.
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Int'l Treaties May Aid Investors Amid UK Rail Renationalization
The recently introduced Passenger Railway Services Bill seeks to return British railways to public ownership without compensating affected investors, a move that could trigger international investment treaty protections for obligation breaches, says Philipp Kurek at Signature Litigation.
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What EU Opinion May Mean For ESG Product Classification
The recently issued European Supervisory Authority opinion on the Sustainable Finance Disclosures Regulation offers key recommendations, including revising the definition of sustainable investments and making principal adverse impacts consideration mandatory, that could sway the European Commission’s final approach to product classification, say lawyers at Debevoise.
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EU Competition Report Spotlights Areas For Future Focus
The European Commission’s recent report on protecting competition highlights the importance of safeguarding innovation and preventing exploitative conduct by dominant firms, signaling that strong and focused law enforcement is to remain a priority with an even greater application of abuse-of-dominance rules, say Nicole Kar and Charlotte Mann at Paul Weiss.
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A Primer On EU's Updated Human Substance Regulations
The European Union's updated standards regarding quality and safety of substances of human origin meant for human application carry significant implications for companies that work with cells and tissues, and U.S. companies active in the EU market should pay particular attention to the import and export rules, say Geneviève Michaux and Georgios Symeonidis at King & Spalding.
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Autonomy Execs' Acquittal Highlights Good Faith Instruction
The recent acquittal of two former Autonomy executives demonstrates that a good faith jury instruction can be the cornerstone of an effective defense strategy in white collar criminal cases, in part because the concept of good faith is a human experience every juror can relate to, says Sara Kropf at Kropf Moseley.
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Implications Of The EU AI Act For Medtech Companies
Lawyers at Hogan Lovells discuss challenges the medtech sector faces in conforming with the requirements of the recently enacted European Union Artificial Intelligence Act, and the necessity for a detailed comparison with existing legislation to identify and address potential gaps.
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Insurance Rulings Show Court Hesitancy To Fix Policy Errors
Two recent Court of Appeal insurance decisions highlight that policyholders can only overcome policy drafting errors and claim coverage if there is a very obvious mistake, emphasizing courts' reluctance to rewrite contract terms that are capable of enforcement, says Aaron Le Marquer at Stewarts.
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What New UK Listing Rules Mean For Distressed Companies
The Financial Conduct Authority’s recently published overhaul of U.K. listing rules makes it easier for advisers to restructure distressed listed companies, and in moving to a more disclosure-based approach, simplifies timelines and increases opportunities for investors, say Kate Stephenson and Sarah Ullathorne at Kirkland & Ellis.
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AI Reforms Prompt Fintech Compliance Considerations
With the EU Artificial Intelligence Act's Aug. 1 enforcement, and the U.K.'s new plans to introduce AI reforms, fintech companies should consider how to best focus limited resources as they balance innovation and compliance, says Nicola Kerr-Shaw at Skadden.
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Irish Businesses Should Act Now To Prepare For EU AI Act
Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.
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Takeaways From World Uyghur Congress Forced Labor Ruling
The Court of Appeal’s recent judgment in the World Uyghur Congress' case against the National Crime Agency confirms that companies dealing in goods that they suspect to be products of forced labor are potentially liable to criminal prosecution, presenting significant legal risks that cannot always be mitigated through conducting supply chain due diligence, say lawyers at King & Spalding.
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10 Ways To Manage AI Risks In Service Contracts
With the European Union Artificial Intelligence Act coming into force on Aug. 1 and introducing a new regulatory risk, and with AI technology continuing to develop at pace, parties to services arrangements should employ mechanisms now to build in flexibility and get on the front foot, says James Longster at Travers Smith.
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What Future May Hold For AI Innovation In UK Under Labour
Labour’s recent King's Speech was notable in its absence of discussion of a comprehensive artificial intelligence bill, and while this may indicate to many that the UK is open for business, the party’s approach to cross-sectoral engagement will be critical for shaping Britain's AI landscape in the near term, says Alexander Amato-Cravero at Herbert Smith.