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Crispin Odey's lifetime ban will give the Financial Conduct Authority another springboard for cracking down on nonfinancial misconduct, sending a warning to firms to run an independent and thorough probe as well as investigate the allegations, lawyers say.
Citibank's fine for violating the U.K. sanctions regime shows that the enforcer will punish companies for serious breaches even if there was no intent to break the rules, underscoring the need for firms to stress-test their screening systems, lawyers say.
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Finance firms are bracing for a surge in disputes over obligatory references after non-financial misconduct rules were extended to 37,000 non-bank firms, legal experts say.
Although the Serious Fraud Office's settlement with ENRC closes an uncomfortable chapter that the agency insists cannot recur, lawyers say its real test is whether it can stop the weaknesses exposed by the scandal from returning again.
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Crispin Odey's lifetime ban will give the Financial Conduct Authority another springboard for cracking down on nonfinancial misconduct, sending a warning to firms to run an independent and thorough probe as well as investigate the allegations, lawyers say.
Citibank's fine for violating the U.K. sanctions regime shows that the enforcer will punish companies for serious breaches even if there was no intent to break the rules, underscoring the need for firms to stress-test their screening systems, lawyers say.
Finance firms are bracing for a surge in disputes over obligatory references after non-financial misconduct rules were extended to 37,000 non-bank firms, legal experts say.
Although the Serious Fraud Office's settlement with ENRC closes an uncomfortable chapter that the agency insists cannot recur, lawyers say its real test is whether it can stop the weaknesses exposed by the scandal from returning again.
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September 17, 2026
A British artificial intelligence medical imaging company has denied that it wrongfully excluded an investor's appointed observer from board meetings, attributing the decision to a potential conflict of interest.
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September 17, 2026
A former employee of two men accused of orchestrating an £87 million ($116 million) Ponzi scheme through their car-financing company testified at trial in London on Thursday that it was "common knowledge" among staff that the business was facing problems.
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September 17, 2026
The London Metal Exchange is being accused of abusing its dominance by failing to install safeguards, in a new attempt to hold the market liable for the disorder that followed a surge in nickel prices in 2022.
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September 17, 2026
A Milan court convicted six individuals of participating in a €520 million ($597 million) value-added tax fraud scheme involving electronics that was bankrolled by an Italian crime syndicate, the European Public Prosecutor's Office said Thursday.
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September 17, 2026
Gabon Bank has denied liability for a €25 million ($28.6 million) claim brought by African Export-Import Bank, arguing that the payment arose from a fraudulent fuel transaction that Afreximbank knew about, or should have.
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September 17, 2026
Apple Inc. and transparency campaigners urged a London tribunal Thursday to force the U.K. government to acknowledge whether it has imposed a restriction on the consumer tech giant's end-to-end encryption services for users in Britain.
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September 17, 2026
The Competition Appeal Tribunal on Thursday approved a plan for distributing settlements totaling £92.75 million ($123.9 million) to motorists in class action claims against vehicle shipping companies over delivery charges.
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September 17, 2026
European authorities conducted searches, arrests and asset freezes as part of an investigation into a suspected cross-border value-added tax fraud involving online mobile phones sales, prosecutors said Thursday.
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September 17, 2026
An executive director at the finance watchdog urged law firms on Thursday to work with law enforcement agencies to tackle economic crime, saying they played a crucial role in detecting and investigating the spread of dirty money.
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September 17, 2026
The Financial Conduct Authority said Thursday it has continued its crackdown on illegal cryptocurrency trading, working with HM Revenue and Customs and the Metropolitan Police to target suspected unregistered peer-to-peer crypto businesses in London.
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September 17, 2026
The Financial Conduct Authority said Thursday that it has opened an investigation into a currency exchange and international payment processing business based in London as it probes potential breaches of money laundering rules.
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September 16, 2026
Dubai-based construction conglomerate ASGC argued in a London court Wednesday that a U.K. rival should be ordered to give it broader access to data and documents, warning that it might collapse as it cannot file accounts or tax returns.
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September 16, 2026
Two directors of a failed car leasing group denied at trial on Wednesday that they lied to investors to dupe them into putting £87 million ($117 million) into a car leasing scheme, which prosecutors say was a Ponzi scheme.
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September 16, 2026
The Financial Conduct Authority issued guidance on Wednesday to help crypto-businesses prepare for the authorization needed to operate in the U.K. from October 2027.
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September 16, 2026
The government will look at bolstering the fight against dirty money by potentially extending anti-money laundering regulations to include property developers, football clubs and players' agents, according to its first-ever strategy.
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September 16, 2026
Crispin Odey has made headlines again as a tribunal upheld a ban on the former hedge fund boss. Here, Dechert partner Richard Hodge talks to Law 360 about how the FCA wants to stamp out non-financial misconduct in the sector and how businesses will face pressure to stamp out sexual harassment.
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September 15, 2026
Two directors of a failed car leasing group duped investors in an £87 million ($117 million) car leasing investment scam that was in fact run as a Ponzi scheme, a prosecutor said at the opening of the trial on Tuesday.
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September 15, 2026
A law firm has regained its license to provide immigration advisory services after a tribunal ruled that its poor recordkeeping did not warrant deregistration or prove it acted dishonestly when handling the applications of two asylum seekers.
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September 15, 2026
Britain's financial regulator banned the former owner of a law firm from working in financial services Tuesday after the Solicitors Regulation Authority fined him a record £4 million ($5.4 million) in 2025 for misusing client funds at the now-shuttered firm he ran.
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September 15, 2026
Santander does not have to pay the £677 million ($912 million) that AXA lost when it deals with claims for wrongly sold payment protection insurance, as an appeals court said on Tuesday that an agreement to accept liability was not retrospective.
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September 15, 2026
A sanctioned person cannot move interest earned on a frozen bank account to a separate account, the government has clarified as it tightened the interpretation of rules governing restricted assets.
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September 14, 2026
The U.K. government will recruit 500 new officers to target money laundering and organized crime as part of a £500 million ($674 million) crackdown on criminal finances, the Home Office said Monday.
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September 14, 2026
An employment tribunal has ordered a National Health Service trust to pay two hospital porters £29,560 ($39,866), after finding that a manager interrogated them for blowing the whistle on mortuary policies that made them feel unsafe.
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September 14, 2026
Sony and Universal joined numerous other music companies on Monday in forming a new group aimed at ousting fraudsters who artificially inflate streaming numbers to generate royalty payments.
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September 14, 2026
Visa and Mastercard are facing a new competition claim from a water company and two hotel companies over interchange fees the companies say inflated the cost of accepting commercial payment cards, the latest in a series of U.K. swipe-fees disputes against the payments giants.