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Corporate Crime & Compliance UK
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July 18, 2025
FCA Shrugs Off Commissioner's Criticisms Of Ignoring Tip-Off
The City watchdog has hit back at criticisms by the Financial Regulators Complaints Commissioner concerning how it treats tipoffs about unregulated firms.
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July 18, 2025
Tomb Raider Game Composer Jailed For COVID Loan Fraud
A composer for the Tomb Raider video game series has been sentenced to 16 months in prison for fraud involving the U.K. government's COVID-19 pandemic-era bounce-back loan scheme, the Insolvency Service said Friday.
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July 18, 2025
Mastercard, Visa Face New Swipe Fees Claim By UK Retailers
Harcus Parker is preparing a new class action on behalf of retailers allegedly overcharged by Visa and Mastercard for accepting debit and credit card payments after a tribunal ruled that the transactions fees breach U.K. competition law.
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July 18, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the former owner of British oil refinery Prax Group sued following the collapse of his business empire, a unit of Shard Credit Partners target a married couple believed to have inflated the value of their companies before selling them, and Aerofoil Energy reignite patent action against AFE Group over the design of its F1-inspired cooling units.
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July 18, 2025
Nordic Marketplace Fined $1M For Insider Info Rule Break
Vend Marketplaces ASA said Friday that the Financial Supervisory Authority of Norway has fined the online marketplace platform 10 million Norwegian krone ($1 million) for "dissemination of insider information."
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July 17, 2025
UK Risk Report Flags Persistent Money Laundering Threat
Money laundering risk for British firms remains high as criminal cash is being generated at over £12 billion ($16.1 billion) a year, with financial and legal services deemed particularly vulnerable, according to the government's National Risk Assessment 2025 released Thursday.
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July 17, 2025
Dechert Settles Jordanian Lawyers' UAE Torture Claims
Dechert and Neil Gerrard, its former head of white collar crime, have settled claims of torture and hacking in a web of litigation spawned from the firm's work for a UAE sovereign wealth fund, a spokesperson for the outfit confirmed Thursday.
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July 17, 2025
UK Audit Watchdog Plans Scaled Rules For Small Businesses
Britain's audit watchdog on Thursday proposed amended guidance for companies auditing smaller businesses amid concerns that industry standards do not reflect the needs of firms with less complex requirements.
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July 17, 2025
Lords Vote To Create Duty To Probe Whistleblowers' Concerns
Employers would be obliged to investigate concerns raised by whistleblowers under an amendment to the Employment Rights Bill put forward by the House of Lords.
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July 17, 2025
Two Arrested In Illegal Crypto-ATM Investigation
Two people have been arrested on suspicion of money laundering and running an illegal cryptocurrency exchange after an operation in which seven crypto-ATMs were seized, the finance industry watchdog said on Thursday.
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July 16, 2025
Le Pen Heirs Lose Challenge To €300K Expenses Recovery
A European Union court on Wednesday rejected an appeal by the daughters of dead French politician Jean-Marie Le Pen, including Marine Le Pen, against an order to pay back €303,000 ($353,000) of misused expenses.
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July 16, 2025
Ex-NCA Officer Jailed For Theft Of Bitcoin In Dark Web Case
An ex-National Crime Agency investigator was sentenced to five years and six months in prison in an English criminal court Wednesday for stealing 50 bitcoin in May 2017 during an investigation into dark web drug dealing, the agency said.
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July 16, 2025
ENRC Bids To Overturn $128M Cut From SFO Claim
ENRC fought at a London appellate court on Wednesday to overturn a decision blocking it from adding approximately $128 million in damages the mining company alleges it suffered from a Serious Fraud Office investigation, arguing that it had applied the incorrect legal principles.
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July 16, 2025
Watchdog Warns Of Continued Quality Gap Among Auditors
Britain's accounting watchdog has said that audit quality continues to improve in the U.K., although it raised concerns about the widening quality gap between the biggest companies and their rivals.
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July 16, 2025
Insolvency Service Expands Role To Tackle Economic Crime
The Insovency Service on Wednesday announced an expansion of its enforcement remit in order to play a more prominent role in the fight against corporate crime.
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July 16, 2025
Dubai Bank Wins Document Fraud Claim in £80M Debt Fight
A judgment that blocked a Dubai bank from recovering £80 million ($107 million) from three members of an Emirati business family was fraudulently obtained with bogus documents, a London court has ruled.
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July 16, 2025
Freight Co. Loses Interim Bid To Lift HMRC Export Controls
A warehouse operator and drinks merchant have lost a bid for interim relief against U.K. tax authority export controls imposed over tax fraud concerns, with a London court ruling they had an "uphill task" to prove the measures were unreasonable.
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July 16, 2025
Senior Managers Regime Revamp Risks Letting In Bad Apples
The City watchdog's planned overhaul of its senior managers regime risks allowing people with records of misconduct to slip into financial firms because of the relaxation of rules on references and criminal checks, according to lawyers.
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July 16, 2025
Barclays Fined £42M For Failures In Financial Crime Controls
The Financial Conduct Authority said Wednesday that it has hit Barclays Bank PLC with fines totaling £42 million ($56 million) for two separate failings in its management of financial crime risk, which could have exposed the bank to criminals laundering money.
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July 15, 2025
'Orange King' And Son Say Cartel Claims Are Stale
The estate and son of Brazil's late "Orange King" argued in a London trial Tuesday that claims by more than 1,400 Brazilian orange farmers over a price-fixing cartel should be halted because they were brought out of time.
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July 15, 2025
Fraud Victim Can't Pursue Wealth Manager's Kids
An ophthalmologist cannot pursue the children of a dead wealth manager for assisting in the dissipation of frozen funds, after a judge ruled Tuesday that there is no evidence that they were aware of their father's $14 million fraud.
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July 15, 2025
Lawyer And Accountant Face 2027 Money Laundering Trial
A solicitor who is a former political candidate and an accountant charged by the National Crime Agency with money laundering are set to face trial in 2027.
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July 15, 2025
Court Refuses To Rule Bali Villa Sale Breached Asset Freeze
A London court said Tuesday that it will not decide whether the wife of a former Russian bank executive had committed contempt of court by selling her villa in Bali 10 days before an asset freeze against her was lifted.
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July 15, 2025
UK To Ease Senior Manager Rules Amid Regulatory Overhaul
The government unveiled a raft of reforms to financial services regulation on Tuesday as it seeks to encourage investment in the economy, a package that includes streamlined rules for senior managers and easier capital requirements for lenders.
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July 15, 2025
Property Deals Remain Top Money Laundering Risk, SRA Says
Property conveyancing is still the biggest money laundering risk in the legal sector, the Solicitors Regulation Authority said Tuesday.
Expert Analysis
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Foreign Countries Have Strong Foundation To Fill FCPA Void
Though the U.S. has paused enforcement of the Foreign Corrupt Practices Act, liberal democracies across the globe are well equipped to reverse any setback in anti-corruption enforcement, potentially heightening prosecution risk for companies headquartered in the U.S., says Stephen Kohn at Kohn Kohn.
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Code Of Practice Signals Aim To Bolster UK Software Security
The U.K. government’s new code of practice for software vendors includes several principles that will help developers and distributors integrate security best practices, but without mandatory adoption, market inconsistencies may emerge, say lawyers at Deloitte.
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Expect Complex Ruling From UK Justices In Car Dealer Case
While recent arguments before the U.K. Supreme Court in a consumer test case on motor finance commissions reveal the court’s take on several points argued, application of the upcoming decision will be both nuanced and fact-sensitive, so market participants wishing to prepare do not have a simple task, says Tom Grodecki at Cadwalader.
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Why Cos. Should Investigate Unethical Supply Chain Conduct
The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
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FCA Bulletin Highlights Risks Of Leaking Inside M&A Info
The Financial Conduct Authority’s recent bulletin on the consequences of leaking sensitive information during transactions, warning that such disclosure may result in market abuse allegations, demonstrates the regulator’s determination to root out and penalize insider dealing, say lawyers at Cadwalader.
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New Anti-Corruption Task Force Bolsters Int'l Collaboration
The recent creation of an anti-corruption task force by the U.K., France and Switzerland demonstrates a commitment to tackling bribery within national and international frameworks, and organizations within these jurisdictions’ remit, including U.S. companies operating in Europe, should review their compliance practices to ensure they address diverging requirements, say lawyers at Skadden.
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FCA's Regulatory Plans Signal Cause For Cautious Optimism
The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
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How CMA Is Responding To UK Gov't Pro-Growth Agenda
With the U.K. government’s recent call for the Competition and Markets Authority and other regulators to better support economic growth, the competition policy landscape is shifting materially toward an emphasis on a more proportionate and targeted approach to merger enforcement, say lawyers at Macfarlanes.
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US Diversity Policies Present Challenges To UK And EU Cos.
Following President Donald Trump’s recent executive orders calling for increased scrutiny of diversity, equity and inclusion initiatives, it is clear that global businesses operating in the U.K. and European Union will need to understand regional nuances to successfully navigate differing agendas on either side of the Atlantic, say lawyers at Jenner & Block.
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Updated EU Procedure Streamlines Data Transfer Approval
The European Data Protection Board’s updated approval procedure for binding corporate rules for transfers of personal data to non-European Union countries promotes consistency for regulator communications during the application process, and sets expectations for processing timelines, say lawyers at Hogan Lovells.
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What Cos. Must Note From FCA Bulletin On Leaking M&A Info
The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
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FCA's Odey Decision Is Wake-Up Call For Financial Firms
The Financial Conduct Authority recently banned hedge fund boss Crispin Odey from working in financial services, underscoring the critical importance the regulator places on whether individuals are fit and proper to perform regulated activities, and the connection between nonfinancial misconduct and the integrity of the financial markets, say lawyers at Pallas Partners.
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How Ransomware Payment Reforms Could Affect UK Cos.
The Home Office’s recent proposals to ban ransomware payments by publicly owned bodies is a welcome first step in its aims to tackle the cybercrime industry, but the risk remains that hackers will now focus on private companies that are still permitted to pay a ransom, says Dominic Holden at Lawrence Stephens.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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Rising To The Task Of Online Safety Act Compliance
The arrival of the Online Safety Act’s deadlines for all in-scope services and children’s access in March and April, enabling the Office of Communications to begin enforcing safety duties regarding illegal content, presents formidable compliance challenges for affected businesses, says Louisa Chambers at Travers Smith.