Corporate Crime & Compliance UK

Opinion

Unexplained Wealth Orders Unlikely To Curb UK Drug Trade

The U.K. National Crime Agency's newly announced strategy of utilizing account freezing, recovery orders and unexplained wealth orders against drug traffickers is arguably misconceived and possibly more of a money-grabbing exercise than anything else, says Jemma Sherwood-Roberts of Corker Binning.

Series

Why I Became A Lawyer: Expanding The Meaning Of Diversity

My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

2 Perspectives On Navigating The Litigation Funding Process

Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

UK Unexplained Wealth Orders Are On The Rise

U.K. enforcement agencies are growing more comfortable in utilizing unexplained wealth orders and undertaking the complex investigations that follow, but the vast majority of international businesses and private clients in the U.K. with wealth situated overseas should not fear that UWOs will be used against them, says Zoya Burbeza of Zaiwalla & Co.

Another Setback To The SFO's Individual Prosecution Efforts

As shown by the recent acquittal of three Sarclad employees connected to the Serious Fraud Office's Sarclad deferred prosecution agreement, such agreements are not well suited for holding individuals accountable, but introducing a new form of DPAs specifically for individuals would be a step in the right direction, say Ian Hargreaves and Deirdre Lyons Le Croy of Covington.

EU Commission Is Getting Tough On 'Gun-Jumping' Mergers

The European Commission's fine against Canon is one of several recent examples of competition law enforcement that should remind merging companies to carefully assess their actions at the crossroads between permissible preparatory measures and premature transaction implementation, says Andrea Pomana of Debevoise & Plimpton.

A Look At UK Enforcement Efforts Against Domestic Bribery

The U.K. Fraud Advisory Panel's recent report about unchecked domestic corruption is justified to an extent, but it may be too harsh to make a blanket condemnation of U.K. enforcement agencies' approach to tackling economic crime, says Syedur Rahman of Rahman Ravelli.

3 Tech Competition Concerns In Europe

Recent cases involving major technology companies and their acquisition of smaller firms have called international attention to the adequacy of competition policy frameworks, and recent proposals in Europe and Australia reveal the onset of an interventionist approach from regulators, say analysts at Cornerstone Research.

Lessons From The Global Forestry Investments Scheme

The Global Forestry Investments case's progression, from the Insolvency Service's involvement to recent charges by the Serious Fraud Office, indicates that those responsible for serious financial losses may face criminal prosecutions in addition to regulatory penalties, says Maria Theodoulou of Stokoe Partnership Solicitors.

Assessing Risk For AI Trained By Tainted Data In The EU

In Europe, evaluating the risk of launching an artificial intelligence system trained by tainted data can be challenging, but identifying the relevant rights, possible sanctions and whether the issue is ongoing can put lawyers well on their way to understanding the risk profile, say Toby Bond and Nick Aries of Bird & Bird.

Helpful Insights On Arbitration Jurisdiction From UK Court

The U.K. Commercial Court's recent decision on arbitration jurisdiction in Minister of Finance v. International Petroleum Investment makes clear that the court will not unnecessarily interfere with arbitration proceedings, but it will be ready to intervene where appropriate, say Ioannis Alexopoulos and Nikoletta Beneki of Signature Litigation.

Record GDPR Fine Marks New Data Privacy Enforcement Era

A record $230 million General Data Protection Regulation fine issued to British Airways by the U.K. Information Commissioner’s Office shows just how far the GDPR is meant to reach and that not having a robust information technology security program is no longer an option, say Cynthia Cole and Sarah Phillips of Baker Botts.

Pros And Cons Of UK Deferred Prosecution Agreements

Since deferred prosecution agreements were introduced in 2014, the Serious Fraud Office has initiated five DPAs that have received formal declarations from the court. Opinions are divided as to whether these agreements improve long-term compliance or allow corporates to pay their way out of prosecution, says Perveen Hill of BDB Pitmans.

Perspectives

2nd Circ.'s Approach To Bail Is Backward

The Second Circuit's decision in United States v. Boustani correctly identifies the dangers of a "two-tiered" bail system, but the proper solution is to make bail more accessible to everyone, not to fewer people, says Alexander Klein of Barket Epstein.

3 Steps To Calculating Damages For Unnecessary Injunctions

A recent Cayman Islands case, Ennismore v. Fenris, sheds light on the process for assessing how much plaintiffs should pay to defendants if they called for a pretrial injunction that the court later finds should not have been granted, say Nicola Roberts and Laura de Heer of Harney Westwood.