Corporate Crime & Compliance UK

  • April 26, 2024

    Patisserie Valerie Execs Deny Fraud Over Collapse

    The former chief financial officer of the company behind Patisserie Valerie and three other people pled not guilty to fraud charges brought by the Serious Fraud Office on Friday over allegations they helped conceal a £10 million ($12.5 million) black hole in the bakery and café chain's books.

  • April 26, 2024

    Ex-Parliamentary Researcher In Court On China Spy Charges

    Former parliamentary researcher Christopher Cash and his co-defendant Christopher Berry appeared at a London criminal court on Friday charged with spying for the Chinese government.

  • April 26, 2024

    HSBC Beats Investors' £1.3B Disney Film Scheme Fraud Case

    HSBC fended off on Friday a £1.3 billion ($1.6 billion) fraud claim brought by hundreds of investors who alleged the bank misled them into financing a Disney movie tax relief scheme it developed which turned out to be worthless.

  • April 25, 2024

    Law Firm Escapes £68M Ponzi Fraud Negligence Claim

    Lupton Fawcett LLP has averted a £68 million ($85 million) professional negligence claim against it, as a London court ruled the claimants' alleged loss as victims of a Ponzi fraud could not be linked to the law firm's actions.

  • April 25, 2024

    Ex-Locke Lord Atty Loses Fight To Challenge Fraud Sentence

    A London appellate court on Thursday blocked Locke Lord LLP's former banking partner from challenging his prison sentence for taking part in a £21 million ($26.2 million) Ponzi scheme.

  • April 25, 2024

    Disciplinary Chair Wins Worker Status, Holiday Pay

    A barrister who served as a chair on the regulatory board for the Nursing and Midwifery Council has won his bid for paid annual leave, with the Employment Tribunal finding that gig economy workers must have an incentive to take holidays, so they do not swap cash for rest.

  • April 25, 2024

    Ephgrave Says SFO Must Be 'Relevant' To UK Taxpayers

    The director of the Serious Fraud Office said on Thursday that the spate of fraud investigations launched early in his tenure wasn't a deliberate policy — though he acknowledged that he wants to make the agency "relevant to the taxpayer."

  • April 25, 2024

    Compliance Officer To Face Tribunal Over Accounts Failures

    A solicitor must face a disciplinary tribunal after he allegedly failed to provide accountants' reports for two law firms in southeast England and allowed the client account of one of those firms to be used as a banking facility, the Solicitors Regulation Authority has said.

  • April 25, 2024

    Firms Urge Delays To 'Unclear' FCA Greenwashing Guidance

    Financial companies are urging the City watchdog to slow its anti-greenwashing rule that comes in force in May as legal experts warn that it has failed to clarify all its expectations in final guidance, putting businesses that make the wrong call at risk of enforcement action.

  • April 25, 2024

    Police Did Not Sack Officer For Making Adult TV Complaint

    A former police officer has failed to secure provisional compensation for her dismissal after a tribunal ruled that a London policing body did not fire her for blowing the whistle on colleagues for refusing to stop watching adult television at work.

  • April 25, 2024

    Post Office Official Denies Misleading Court About IT System

    A Post Office director denied misleading the court about what she knew about the IT system used to prosecute hundreds of innocent people, as she gave evidence to the inquiry into the scandal Thursday.

  • April 25, 2024

    EU Parliament Gives Final Approval To AML Package

    The European Parliament has given the final go-ahead to a package of laws to fight money laundering and terrorist financing, creating a single rule book and establishing a dedicated agency for the bloc.

  • April 24, 2024

    Ex-Autonomy GC Tells Jurors He Wanted To Be 'Helpful' To HP

    Autonomy's former U.S. general counsel conceded Wednesday in the criminal trial of former CEO Michael Lynch that he told an HP lawyer he wanted to be as "helpful" as possible to the company as it was investigating Autonomy-related issues that popped up after the Silicon Valley giant purchased the British company, and that he was told he could face liability for his work at Autonomy.

  • April 24, 2024

    Chicago Museum Accuses New York DA Of Art Seizure Overreach

    The Art Institute of Chicago has urged a New York criminal court to give back an Egon Schiele drawing seized by the Manhattan District Attorney's Office, saying the artwork was never looted by Nazis and prosecutors have no business litigating a civil ownership dispute.

  • April 24, 2024

    Oligarch's Family Can't Nix €1.5B Bankruptcy Bid

    The widow and a daughter of the late Russian cement oligarch Oleg Bourlakov stumbled in their global legal battle with relatives over his fortune after a London judge declined to stop €1.48 billion ($1.59 billion) bankruptcy proceedings in St. Petersburg.

  • April 24, 2024

    Post Office GC Didn't Know To Disclose Witness Misled Court

    As he gave evidence to an inquiry Wednesday, the Post Office's former general counsel said external law firm Cartwright King didn't tell him that the fact that an expert witness lied to the court when testifying against subpostmasters needed to be disclosed.

  • April 24, 2024

    Feds Nab Latest OneCoin Plea On $35M Laundering Charge

    An eighth defendant has been charged by federal prosecutors over the global OneCoin cryptocurrency scam and has pled guilty to laundering about $35 million in illicit proceeds through bank accounts he controlled in China and Hong Kong.

  • April 24, 2024

    Fund Manager Denies Losing Jailed Politician's Wife £8M

    A fund manager has denied transferring €28 million ($30 million) from the account of an imprisoned Turkish politician's wife without her permission, claiming she gave written instructions to invest the money in emerging markets.

  • April 24, 2024

    Ex-England Footballer Banned As Director For Unpaid Tax

    Former England football international John Barnes has been banned from being a company director after his business failed to pay more than £190,000 ($236,000) in tax, a U.K. government agency announced on Wednesday.

  • April 24, 2024

    Boris Becker Settles With Creditors Over Missing Trophies

    Boris Becker's creditors have agreed not to chase the multiple Grand Slam tennis champion over the missing trophies he was accused of hiding to dodge paying debts, lawyers for the Wimbledon winner and bankruptcy trustees told a London court Wednesday.

  • April 24, 2024

    Ex-Law Firm Partner Fails To Toss SRA Dishonesty Allegation

    A former equity partner in a real estate conveyancing firm failed on Wednesday to have a tribunal prevent the Solicitors Regulation Authority from accusing him of dishonesty, as it ruled that an offer by the watchdog to settle did not mean he should not have expected the allegation.

  • April 24, 2024

    EU Keeps Gibraltar, Panama, UAE On AML Blacklist

    Gibraltar, Panama and the United Arab Emirates should remain on the European Union's blacklist of high-risk countries for money laundering, the European Parliament said, stopping the EU from following the lead of a global organization promoting standards for countries to fight those crimes.

  • April 24, 2024

    SFO Admits Deleting Osofsky's Phone Amid ENRC Leaks Row

    The Serious Fraud Office acknowledged on Wednesday that it "inappropriately" erased the mobile phone of its former director, Lisa Osofsky, during litigation over alleged leaks in what mining giant ENRC told a London court was a "flagrant breach" of its disclosure obligations.

  • April 24, 2024

    EU Says 3 States Aren't Correctly Following AML Law

    The European Commission said Wednesday that three European Union countries — Ireland, France and Latvia — aren't correctly implementing the bloc's laws against money laundering, meaning that the countries now have two months to correct the shortcomings.

  • April 24, 2024

    Disclosure Review Calls For Early Talks To Speed Cases

    Early talks between prosecutors and defendants could ease the pressures of disclosure in complex economic crime cases where the large volume of online evidence creates a risk that suspects will be denied a fair trial, a government-backed review advised Wednesday.

Expert Analysis

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What UK Energy Charter Treaty Exit Would Mean For Investors

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    While the U.K.'s recent announcement that it intends to withdraw from the Energy Charter Treaty is a bold political signal, investor protections will remain in place for a significant period of time, ensuring that an element of certainty and business continuity will remain, say Karel Daele and Jessica Thomas at Taylor Wessing.

  • Assessing The FCA Data Study's Response To User Concerns

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    The Financial Conduct Authority’s recently published report on the supply of wholesale financial data differs from others in its exceptional breadth and analysis of an enormous volume of information, but in its reluctance to address market power or pricing directly, the regulator’s approach is still cautious, say Emma Radcliffe and Greg Dowell at Macfarlanes.

  • Uber Payout Offers Employer Lessons On Mitigating Bias

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    Uber Eats' recent payout to a driver over allegations that the company's facial recognition software was discriminatory sheds light on bias in AI, and offers guidance for employers on how to avoid harming employees through the use of such technology, says Rachel Rigg at Fieldfisher.

  • Apple Ruling Offers Morsel Of Certainty On Litigation Funding

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    An English court's recent decision in Gutmann v. Apple, finding that a litigation funder could be paid via a damages award, offers a piece of guidance on the permissibility of such agreement terms amid the ongoing uncertainty around funded group litigation in the U.K., says Mohsin Patel at Factor Risk Management.

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Traversing The Web Of Nonjudicial Grievance Mechanisms

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    Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.

  • Opinion

    FCA Greenwashing Rules Need To Be Stronger To Be Effective

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    The Financial Conduct Authority's forthcoming anti-greenwashing measures, aimed at ensuring the veracity of regulated entities’ statements about sustainability credentials, need external scrutiny and an effective definition of "corporate social responsibility" to give them bite, says Jingchen Zhao at Nottingham Trent University.

  • Companies House False Filings Raise Issues Of Integrity

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    A recent spate of unauthorized company filings with Companies House raises specific concerns for secured lenders, but also highlights the potential for false filings to be used to facilitate fraudulent schemes, says Daniel Sullivan at Charles Russell.

  • Gov't Probe Highlights Computer-Based Evidence Issues

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    A recently launched U.K. Home Office probe, following the alleged use of faulty data in criminal cases, illuminates the need for scrutiny on the presumed reliability of evidence from computer-based systems, says Jessica Sobey at Stokoe Partnership.

  • UK Courts Continue To Struggle With Crypto-Asset Cases

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    Although the common law has proved capable of applying established principles to crypto-assets, recent cases highlight persistent challenges in identifying defendants, locating assets and determining jurisdiction, suggesting that any meaningful development will likely come from legislative or regulatory change, say Emily Saunderson and Sam Mitchell at Quadrant Chambers.

  • Why Computer Evidence Is Not Always Reliable In Court

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    Recent challenges to the admissibility of encrypted communication from the messaging tool EncroChat highlight the flawed presumption in the U.K. common law framework that computer evidence is always accurate, and why a nuanced assessment of such evidence is needed, say Sam De Silva and Josie Welland at CMS Legal.

  • Comparing The UK And EU Approaches To AI Regulation

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    While there are significant points of convergence between the recently published U.K. approach to artificial intelligence regulation and the EU AI Act, there is also notable divergence between them, and it appears that the U.K. will remain a less regulatory environment for AI in the foreseeable future, say lawyers at Steptoe.

  • Lessons On Using 3rd-Party Disclosure Orders In Fraud Cases

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    The expansion of the gateway for service out of jurisdiction regarding third-party information orders has proven to be an effective tool against fraud since it was introduced in 2022, and recent case law offers practical tips on what applicants should be aware of when submitting such orders, says Rosie Wild at Cooke Young.

  • Compliance Points To Know About The EU Digital Services Act

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    Online service providers in the European Union should prioritize understanding the scope of the recently implemented Digital Services Act, their specific legal obligations under it and the practical steps they must take to comply with the new law while obeying a raft of overlapping EU digital reforms, say Leo Moore and Róisín Culligan at William Fry.

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