Corporate Crime & Compliance UK

SFO's Tendency To Abandon Investigations Holds Strong

The Serious Fraud Office's decision to end its investigation into De La Rue relatively quickly marks its latest failure to bring charges or secure a conviction, raising questions about the agency's capacity and willingness to hold large corporations accountable, says Neil Williams at Rahman Ravelli.

Post-Pandemic Litigation To Expect In England And Wales

Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

UK Should Consider Germany's Model For Criminal Justice

With jury trials and hearings in the U.K. postponed or not starting at all, and the criminal justice system effectively ground to a halt, it may be time to consider a different case management model — for example, Germany is making headlines for its robust pandemic response, say members of Clyde & Co and Kipper + Durth.

Opinion

Reflections On The UK Bribery Act 10 Years On

While the U.K. Bribery Act has been positive overall, regulators should seek urgent reform to better enable the investigation and prosecution of companies and individuals for economic crimes, especially in cases directly harming people and the environment, says Chris Phillips at Alvarez & Marsal.

UK Lawyers Can Adapt Due Diligence To Screen New Clients

As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

A Post-COVID-19 Road Map For UK Financial Services

From setting realistic recovery expectations to anticipating regulatory zeal to strategizing internal operations, attorneys at King & Spalding offer a road map for U.K. financial services stakeholders attempting to return to "normal" when the pandemic subsides.

FCA Has Strong-Arm Lending Tactics Under The Microscope

Even by the usual standards of a "Dear CEO" letter, the Financial Conduct Authority's April 28 letter is strongly worded — signaling no tolerance for banks using their corporate clients' cash-flow problems as leverage to obtain roles on equity mandates they otherwise would not have obtained, says Claire Cross at Corker Binning.

A Powerful Lesson In UK Data Protection Law Restrictions

While data protection laws are not naturally associated with efforts to impede the use of the death penalty, a recent U.K. Supreme Court ruling related to the U.S. investigation of an ISIS militant has implications for authorities seeking to transfer data to international counterparts, as well as private data controls generally, says David Rundle at WilmerHale.

A Look Forward To UK Banking Litigation In The 2020s

With an eye on the impact of COVID-19 and the evolving threat of financial crime, Christa Band and Jane Larner at Linklaters provide an overview of the near-future challenges financial institutions should expect.

High Court Ruling May Impede Unexplained Wealth Order Use

The High Court’s analysis in National Crime Agency v. Baker, of legislative provisions as they relate to offshore and complex structures, paves the way for a less responsive approach to unexplained wealth orders, say David Rundle and Josef Rybacki at WilmerHale.

Ukraine's Litigation Funding Push May Help Fight Corruption

Ukraine’s new third-party litigation funding initiative for civil cross-border actions may significantly strengthen the country's fight against corruption by helping with costs for proceedings against foreign criminals, says Oleg Shaulko at Kobre & Kim.

Time To Prepare For New US-UK Data Sharing Rules

The cross-border data sharing agreement between the U.S. and U.K. that takes effect in July will likely have a greater impact on communication service providers that store data in the U.S., and the number of disclosure requests coming from the U.K. might outstrip requests from the U.S., say attorneys at Morgan Lewis.

Pandemic Brings New Fraud Risks For UK Cos.

COVID-19 has created new opportunities for all kinds of fraud — from investment fraud to bogus equipment sales to hackers impersonating software engineers — and U.K. companies must conduct investigations despite the challenges posed by remote working arrangements, says Azizur Rahman of Rahman Ravelli.

UK Data Breach Ruling Clarifies Employers' Vicarious Liability

The U.K. Supreme Court's decision in the WM Morrison Supermarkets data breach group action confirms that employers cannot be held liable for employee actions related to a personal vendetta against the company, but most vicarious liability cases may not be as clear-cut, say attorneys at Covington.

Limits Of FCPA Jurisdiction Over Foreigners After Hoskins

The prosecution of former Alstom executive Lawrence Hoskins and other recent cases illuminate the outer limits of the Foreign Corrupt Practices Act’s jurisdiction over foreign persons, but many issues remain to be litigated, and a circuit split may yet need to be resolved, say Jason Linder and William Sinnott at Mayer Brown.