Corporate Crime & Compliance UK

  • February 18, 2025

    EU Watchdog To Set Knowledge Standard For Crypto Advisers

    The European Union's financial markets regulator has proposed guidelines setting minimum knowledge standards for advisers and information providers at crypto-asset service providers.

  • February 18, 2025

    Trading Firm Fined £1.7M For Financial Crime Control Failings

    The Financial Conduct Authority said Tuesday it has fined trader Mako Financial Markets Partnership LLP £1.66 million ($2 million) for its failure to have effective controls against financial crime in cum-ex trading.

  • February 17, 2025

    Russell Brand Sued By Macmillan After Suspended Book Deal 

    Macmillan Publishers International has sued Russell Brand two years after pausing the launch of the comedian's "Recovery" self-help book and all future projects over a spate of sexual assault and rape accusations.

  • February 17, 2025

    Bulgarian Decorator In Russia Spy Trial Claims He Was Duped

    A painter decorator accused of spying for Russia "sang like Justin Bieber" to the police after he realized he had been "duped" into believing he was assisting Interpol, his barrister told a London trial on Monday.

  • February 17, 2025

    Gov't Can't Intervene In Motor Finance Case At Top Court

    The U.K. government has been refused permission to intervene in a landmark appeal over motor finance commission payments that has left finance firms fearing they will be hit with a huge compensation bill, Britain's highest court confirmed Monday. 

  • February 17, 2025

    Financial Adviser Fired For Calling Boss 'Idiot' Wins Claim

    An adviser at a financial planner has won his claim alleging that the company botched his firing over explicit language he used to describe his boss — but could not convince the tribunal that he was a whistleblower.

  • February 17, 2025

    Pensions Watchdog To Go Further On Prudential Oversight

    The retirement savings watchdog said Monday it will go further this year on managing risks affecting the wider pensions market and financial ecosystem, after announcing last year it would take on a more "prudential" approach to supervising the sector.

  • February 17, 2025

    Ex-NCA Manager Wins £63K For Surprise Poor Review 

    An employment tribunal has ordered the National Crime Agency to pay a former senior manager £63,264 ($80,000), after an underperformance rating that came "without prior warning" caused her upset and distress and forced her to quit.  

  • February 17, 2025

    Former Entain Execs Sue Addleshaw For Privileged Docs

    The former chief executive at the predecessor of Entain and the betting giant's former chair have sued Addleshaw Goddard LLP, seeking the release of privileged advice believed to have been turned over to regulators and prosecutors in a major bribery investigation.

  • February 17, 2025

    E-Money Biz Enters Insolvency After FCA Ban Amid AML Fears

    Payment services company Nvayo has entered into special administration, six months after it was banned from electronic money services because of serious concerns about its compliance with anti-money laundering regulations, the Financial Conduct Authority has said.

  • February 14, 2025

    Heineken Can Face €160M Antitrust Claim In Netherlands

    Heineken can face antitrust claims worth over €160 million ($168 million) in its homeland, the Netherlands, after the European Union's highest court ruled that there was nothing preventing the Dutch courts from dealing with the case.

  • February 14, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Spice Girls star Mel B's ex-husband bring a defamation claim against the publisher of The Sun, a hotel sue a former director convicted of embezzling its funds for breach of fiduciary duty, and comedian Russell Brand face a sexual abuse claim. Here, Law360 looks at these and other new claims in the U.K.

  • February 14, 2025

    Trump Tariff Plan Sparks UK Fears Of Retaliation For VAT

    The U.K. could be hit with tariffs as part of U.S. President Donald Trump's plan to impose reciprocal measures on countries that levy value-added taxes on American products, with sectors such as pharmaceuticals under threat, experts in Britain warned.

  • February 14, 2025

    Shell Calls Nigerian Oil Spill Claims 'Human Rights Mysticism'

    Shell argued at a London court on Friday that it could not be held liable to thousands of Nigerian villagers for widespread pollution of the Niger Delta area, saying that the claimants' arguments were "human rights mysticism."

  • February 14, 2025

    ENRC Can't Directly Appeal $120M Cut From SFO Claim

    A London judge Friday refused Eurasian Natural Resources Corp. a direct route to challenge his decision to pare its claim against the Serious Fraud Office over its criminal investigation, a move the company's lawyers say "went behind" its evidence and should have been aired at trial.

  • February 14, 2025

    Magomedov Must Pay £7M Costs Amid 'Secrecy' Over Funding

    Imprisoned oligarch Ziyavudin Magomedov must pay £7.3 million ($9.2 million) in interim court costs after losing his claim over an alleged Russian state-led conspiracy to strip his assets, as a judge criticized on Friday the "secrecy" surrounding who funded the litigation.

  • February 14, 2025

    5 Questions For Spencer West Partner Karl Foster

    The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.

  • February 14, 2025

    EU Watchdog Probes Bloc-Wide Fund Manager Compliance

    The European Union's financial markets regulator on Friday launched a bloc-wide probe with national regulators on compliance and internal audit functions of fund managers.

  • February 13, 2025

    Barclays Reveals FCA Probe Over Money Laundering Controls

    Barclays revealed in its annual report on Thursday that it is being probed by the Financial Conduct Authority over its compliance with anti-money laundering and financial crime regulations.

  • February 13, 2025

    Immigration Officer Loses Pay Bid After Calling Boss A Nazi

    An employment tribunal has declined to secure the pay of a former chief immigration officer who was sacked after likening his superior to top Nazi Heinrich Himmler, ruling that his whistleblowing allegations are unlikely to hold up.

  • February 13, 2025

    Alleged Russian Spy Says She Was Used By Lying Partner

    A woman on trial for allegedly spying for Russia didn't know she was working for the Kremlin because her ex-partner, who claimed he worked for Interpol and had cancer, lied to her "on a fundamental level," her lawyers told a London jury Thursday.

  • February 13, 2025

    Former SFO HR Boss Loses Claim He Was Forced Out

    A former head of human resources at the Serious Fraud Office has lost his case that he was forced to quit the white-collar crime agency because executives "deliberately and increasingly undermined" him and hired someone else to take over his duties.

  • February 13, 2025

    Shell's Negligence Caused Oil Pollution, Nigerian Villagers Say

    Thousands of Nigerian villagers urged the High Court on Thursday to find that Shell can be held liable for environmental damage that they say was a foreseeable consequence of the energy giant failing to stop pipeline sabotage and theft.

  • February 13, 2025

    Insider Dealing Suspect Denies Illegally Profiting From Trades

    A man appeared at a criminal court in London on Thursday to deny using inside information to profit from oil and gas stocks over a four-year period.

  • February 13, 2025

    FCA Files Criminal Charges Against Financial Adviser

    The Financial Conduct Authority said Thursday it has charged an independent financial adviser with multiple criminal offenses that resulted in more than £2.3 million ($2.9 million) in losses for clients.

Expert Analysis

  • Analyzing The Implications Of 1st FCA Crypto ATM Crackdown

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    The Financial Conduct Authority’s recent criminal prosecution of Olumide Osunkoya, its first enforcement action against a crypto-asset trading firm's owner, is an unambiguous sign of the regulator’s commitment to actively pursue transgressors, but may be a hindrance to the U.K. crypto industry, says Asim Arshad at Lawrence Stephens.

  • What EU Antitrust Guidelines Will Mean For Dominant Cos.

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    The European Commission’s recent draft antitrust guidelines will steer courts' enforcement powers, increasing the risk for dominant firms engaging in exclusive dealing without any apparent basis to shift the burden of proof to those companies, say lawyers at Latham.

  • Draft Merger Control Guidance Allows CMA To Cast Wide Net

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    The Competition and Markets Authority's recent draft merger control guidance, reflecting the regulator's strengthened powers under the Digital Markets, Competition and Consumer Act, introduces extensive change and potential procedural improvements, specifically concerning reviews of private equity firms, say lawyers at Travers Smith.

  • Key Points From Cayman's Beneficial Ownership Regime

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    While recent expansion of the Cayman Islands Beneficial Ownership Act's scope means it now encompasses many entities with previously minimal obligations, the changes ensure a welcome level playing field with workable alternative routes to compliance, says Lucy Frew at Walkers Global.

  • HMRC Transfer Pricing Guide A Vital Resource For Businesses

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    HM Revenue & Customs' recent guidelines on common transfer pricing compliance risks should be required reading for affected businesses in indicating HMRC's expected benchmark for documents and policies, say Tomoko Ikawa and Kapisha Vyas at Simmons & Simmons.

  • How UK Digital Regulation Under Labour May Differ From EU

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    Although details on the Labour government's data and cyber resilience reforms are currently limited, there are indications that proposed legislation and a lack of AI-specific legislation signal divergence from the European Union's approach, say lawyers at Deloitte.

  • Insights From FRC's Report On Good Corporate Governance

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    Although the Financial Reporting Council’s recent report on private companies opting to follow the Wates principles has identified improvements, it is important for organizations to provide transparent disclosures and avoid boilerplate, tickbox filings, says Tessa Hastie at BCLP.

  • What To Know About The UK Overseas Funds Regime

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    The U.K.’s overseas funds regime is now open for applications, providing a simplified way of offering a foreign fund to U.K. retail investors, and the Financial Conduct Authority's clear policy statement on implementation should ease the transition process from the existing scheme, say lawyers at Dechert.

  • 5 Cyber Risk Tips For Lawyers Contracting Cloud Services

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    With the U.K. government's recent announcement of a forthcoming cybersecurity bill, and the European Union's imminent deadline to transpose the second Network and Information Systems Directive into national law, it is important for in-house lawyers to be alive to potential risks when contracting for cloud services, say lawyers at Addleshaw Goddard.

  • Takeaways From SRA Consumer Protection Review

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    While the Solicitors Regulation Authority prepares to announce its findings later this year following its consumer protection consultation, the topic of handling client funds is very much alive in the legal industry, with polarizing views on what should happen as a result of the review, says Claire Van Der Zant at Shieldpay.

  • Reflecting On 12 Months Of The EU Foreign Subsidy Regime

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    New European Commission guidance, addressing procedural questions and finally providing clarity on “distortion” in merger control and public procurement, offers an opportunity to reflect on the year since foreign subsidy notification obligations were introduced, say lawyers at Fried Frank.

  • The Road Ahead For Tokenized Investment Funds In The UK

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    With an HM Treasury working group expected to release the final phase of a road map for tokenized investment funds by the end of the year, Andrew Tsang and Tom Bacon at BCLP discuss the advantages for investors and fund administrators, the proposed model for implementation, and what the regulatory landscape may look like.

  • Review Of EU Cross-Border Merger Regs' Impact On Irish Cos.

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    Looking back on the year since the European Union Mobility Directive was transposed into Irish law, enabling Irish and European Economic Area limited liability companies to participate in cross-border deals, it is clear that restructuring options available to Irish companies with EU operations have significantly expanded, say lawyers at Matheson.

  • Integrating ESG Into Risk Management Programs

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    Amid increasing regulations and reporting requirements for corporate sustainability in the European Union and the U.S., companies might consider how to incorporate environmental, social and governance factors into more formalized risk management, say directors at Alvarez & Marsal.

  • The EU AI Act's Influence Around The World

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    Although the European Union's Artificial Intelligence Act's implementation will be staggered over the next six years, we are already witnessing its authority across the world, with legislators in other countries drawing inspiration from its sector-agnostic approach, say lawyers at Paul Weiss.

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