Corporate Crime & Compliance UK

  • April 11, 2025

    Gowling Partner Revives Claim Against Ex-Boss At Credit Firm

    A Gowling WLG partner on Friday rekindled her whistleblowing claim against her boss at a credit firm where she previously worked, convincing a London appeals judge that an earlier tribunal was wrong to let the executive off the hook.

  • April 11, 2025

    3 Convicted Of Driving €24M Car Sales VAT Fraud Ring

    A German court convicted and sentenced three ringleaders of a value-added tax fraud scheme that used a series of shell companies and fake invoices to dodge €24 million ($27 million) in owed value-added taxes, the European Public Prosecutor's Office said Friday.

  • April 11, 2025

    Sheikh Wins $5M Antiques Fraud Case Against Art Dealers

    A Qatari royal on Friday won his $5.2 million case against a pair of art dealers, with a London court ruling that the duo could not defend claims that they misrepresented the provenance of antiques because they failed to disclose key evidence.

  • April 11, 2025

    Teacher Loses Racial Bias, Harassment Claim

    An employment tribunal has thrown out a teacher's claims that staff at a grammar school in southeast England discriminated and harassed her, putting an end to her case after she'd already had allegations that the head teacher committed insurance fraud to pay his solicitors tossed out.

  • April 11, 2025

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

    This past week in London has seen law firm Michael Wilson & Partners reignite a 20-year dispute with a former director over an alleged plot to form a rival partnership, headphone maker Marshall Amplification sue a rival in the intellectual property court, and a commercial diving company pursue action against state-owned nuclear waste processor Sellafield. Here, Law360 looks at these and other new cases in the U.K.

  • April 11, 2025

    UK Secures 1st Interpol Silver Notice To Recover Fraud Assets

    The U.K.'s first-ever Interpol Silver Notice has been published to help trace and recover the criminal assets of a man convicted for an £8.5 million ($11.1 million) property investment fraud, the National Crime Agency announced Friday.

  • April 11, 2025

    Former Russian Politician Gets 3 Yrs For Sanctions Breach

    A former Russian politician convicted of breaching sanctions and money laundering was sentenced to 40 months in prison on Friday for circumventing the U.K.'s financial restrictions on spending on daily living expenses.

  • April 10, 2025

    Germany Forms New Gov't With Plans To Cut Corporate Taxes

    German political parties the Christian Democrats and the Social Democrats reached a coalition government agreement, including terms for corporate tax cuts and support for the global minimum corporate tax rate.

  • April 10, 2025

    Mittal Faces $216M Fraud Claims From Liquidators

    The liquidators of one of Pramod Mittal's former companies convinced a judge Thursday to let them drag the steel magnate into $216 million litigation involving allegations that he fraudulently stripped millions of dollars from the business and distributed it to his family.

  • April 10, 2025

    Microsoft Pushes Back On UK's Cloud Software Findings

    Microsoft has responded to the concerns raised by Britain's competition enforcer over the cloud services market, saying that artificial intelligence is radically reshaping the space, and that any regulatory intervention could make the industry less dynamic.

  • April 10, 2025

    Florist Can't Get £14M For Border Force's Poppy Destruction

    A florist can't recover his alleged £14 million ($18.2 million) loss from U.K. border agents who seized and destroyed his shipments of dried poppy heads after mistakenly thinking they were illegal drugs, a London court ruled Thursday.

  • April 10, 2025

    BDO Loses Bid To Block Release Of NMCN Audit Files

    BDO LLP lost its bid on Thursday to challenge a court order demanding that it hand over its audit documents for the now-defunct construction company NMCN, as the High Court said the accounting firm had not proved there was any serious error in the disclosure order.

  • April 10, 2025

    UK Authorities Arrest 7 Over €3M Invoice Scam Network

    British authorities have arrested seven suspects linked to a criminal group that laundered the estimated €3 million ($3.3 million) annual profit from a fake invoice scheme dating back to 2018, a European Union agency said Thursday.

  • April 10, 2025

    Pensions Regulator's AI Tool Takes Aim At Criminals

    The retirement savings watchdog has helped develop artificial intelligence technology to identify and remove websites that attempt to defraud people and steal their pension funds.

  • April 10, 2025

    FCA Boss Rathi Appointed To 2nd Term With Growth Focus

    HM Treasury said Thursday that it has reappointed Nikhil Rathi as chief executive of the Financial Conduct Authority to continue its reform of the regulations to support economic growth.

  • April 10, 2025

    EY Fined £4.9M Over Audits Of Travel Giant Thomas Cook

    The accounting watchdog said Thursday that it has hit Ernst & Young LLP with a fine of £4.88 million ($6.29 million) for "serious breaches of standards" when it completed the last audits for Thomas Cook, the travel group that collapsed in 2019.

  • April 09, 2025

    Ex-Axiom DWFM Lawyer Accused Of Diverting Client Funds

    The Solicitors Regulation Authority accused a former solicitor at Axiom DWFM on Wednesday of diverting money that belonged to the firm into his account when he carried out client work.

  • April 09, 2025

    EPPO Can't Avoid Judicial Review Of Witness Summons

    Europe's top court has ruled that decisions of the European Union financial crime prosecutor must be open to judicial review after suspects in a Spanish subsidy fraud probe challenged the authority's decision to summon a staffer to give evidence.

  • April 09, 2025

    Rabobank Headed To Court Over Laundering Allegations

    Rabobank said Wednesday that it will face allegations from the Dutch Public Prosecution Service in court in connection with a money laundering and terrorist financing investigation, as the two sides have failed to settle the case.

  • April 09, 2025

    Tycoon Loses Challenge To Bankruptcy Order Over £1B Debt

    An Indian tycoon has failed in his bid to challenge a bankruptcy order against him after a court ruled Wednesday that his creditors are entitled to say he has not properly paid off his £1 billion ($1.28 billion) debt because assets used to discharge it could be clawed back by authorities.

  • April 09, 2025

    US Tariffs Threaten Global Growth, Bank Of England Says

    The U.S. government's tariff policy has created intense uncertainty for global trade and has increased risks to economic growth around the world, the Bank of England warned Wednesday.

  • April 09, 2025

    Ex-Russian Politician Convicted Of Breaching UK Sanctions

    A former Russian politician once appointed by President Vladimir Putin to serve in occupied Crimea was convicted of breaching sanctions in London on Wednesday, the first person ever to be held criminally responsible for circumventing the country's financial restrictions.

  • April 09, 2025

    Ex-Everton Director Loses Fight Over Sanctions Disclosure

    A former director of Everton Football Club lost on Wednesday his fight to force the British government to identify a public body that proposed sanctioning him after Russia invaded Ukraine, which was part of his challenge against sanctions.

  • April 08, 2025

    Revolut Bank Fined €3.5M In Lithuania Over AML Failures

    Lithuania's central bank said Tuesday that it has fined Revolut Bank UAB €3.5 million ($3.8 million) for breaching anti-money laundering requirements.

  • April 08, 2025

    BDO Faces Probe Over Collapsed Home REIT's Audit

    The Financial Reporting Council is investigating BDO LLP's audit of the ailing real estate investment trust Home REIT PLC's consolidated financial statements from years before the investor announced it would wind down, the corporate governance regulator said Tuesday.

Expert Analysis

  • What Cos. Must Note From FCA Bulletin On Leaking M&A Info

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    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.

  • FCA's Odey Decision Is Wake-Up Call For Financial Firms

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    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.

  • How Ransomware Payment Reforms Could Affect UK Cos.

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    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.

  • Key Takeaways From The 2025 Spring Antitrust Meeting

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    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.

  • Rising To The Task Of Online Safety Act Compliance

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    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.

  • Google Win Illustrates Hurdles To Mass Data Privacy Claims

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    The Court of Appeal's December decision in Prismall v. Google, holding each claimant in a mass data privacy suit must demonstrate an individualized and sufficiently serious injury, demonstrates the difficulty of using representative action to collect damages for misused private information, say lawyers at Seladore Legal.

  • What To Know About FCA's UK Listing Rules Proposal

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    A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.

  • Opinion

    UK Gov't Needs To Take Action To Support Whistleblowing Bill

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    With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.

  • Issues To Watch At ABA's Antitrust Spring Meeting

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    Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.

  • New UK Short Selling Rules Diverge From EU Regs

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    Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.

  • How New EU Product Liability Directive Will Affect Tech And AI

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    While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.

  • What Latest FCA Portfolio Letter Means For Payments Firms

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    Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.

  • ECB Guide Targets Harmonized Cyber Testing Approach

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    The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.

  • Court Backlog Could Alter Work Safety Enforcement Priorities

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    While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.

  • New CMA Powers Will Change Consumer Protection Regime

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    The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.

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