Corporate Crime & Compliance UK

  • March 03, 2025

    Moving Shares Amid Fraud Claim Was Valid, Ex-Director Says

    A former director of a food products supplier has denied giving shares in a construction company to his wife and associates in the face of allegations of fraud and misrepresentation, saying that it was a "reasonable and commercial" reallocation of assets.

  • March 03, 2025

    Ex-Barclays CEO Banned For Lies, Not Epstein Ties, FCA Says

    The finance watchdog said at the start of a trial in London on Monday that it was concerned about James "Jes" Staley's personal relationship with Jeffrey Epstein but that it banned the former Barclays boss for lying — not for his choice of friends.

  • February 28, 2025

    Illegal Crypto ATM Operator Sentenced To 4 Years In Prison

    A London judge sentenced a businessman to four years' imprisonment on Friday for illegally operating a network of crypto ATMs and producing fake documents to hide his involvement, saying his actions were "deliberate, carefully planned and thoroughly dishonest."

  • February 28, 2025

    Ex-Barclays Boss Staley Fights FCA Ban Over Epstein Ties

    Former Barclays boss Jes Staley will challenge on Monday the Financial Conduct Authority's ban for his lies about his relationship with sex offender Jeffrey Epstein in a high-stakes legal battle that will test the regulator's appetite for taking on the biggest cases. 

  • February 28, 2025

    FCA Charges Pair With Financial Fraud, Money Laundering

    The City watchdog said Friday that it has filed criminal charges against financial advisers Kerry Nelson and Jacqueline Stephens for alleged fraud, forgery and money laundering that lost clients £2 million ($2.5 million).

  • February 28, 2025

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

    This past week in London has seen the billionaire Zakay brothers, founders of Topland Group, become embroiled in a legal dispute with each other, Unilever sue three major perfume companies over alleged illegal price-fixing, and the publisher of Vogue magazine file an intellectual property suit against Cornucopia Events. Here, Law360 looks at these and other new claims in the U.K.

  • February 28, 2025

    GB News Wins Ofcom Challenge Over Political Host

    Television network GB News won its challenge on Friday to the decision of the media regulator that it had breached broadcasting codes by allowing a politician to present news — the first loss of its kind for watchdog Ofcom.

  • February 28, 2025

    Indian Beats Tax Fraud Extradition On Prison Extortion Fears

    Sanjay Bhandari will not be extradited to India to face charges of tax evasion and money laundering as a London court ruled Friday that he would be at "a real risk" of inhumane treatment in one of the largest prisons in the world.

  • February 27, 2025

    Poland Can't Exclude Domestic Funds From Tax Break

    The Polish government can't offer corporate tax exemptions to investment funds managed outside the country unless it offers the same benefits to domestically managed funds, the European Court of Justice ruled Thursday.

  • February 27, 2025

    Trader Defends Legitimacy Of £1.4B Tax Refunds In Fraud Trial

    British trader Sanjay Shah and others accused by Denmark's tax authority of involvement in a fraudulent trading scheme to procure billions in tax refunds argued in a London court Thursday that they could not have fraudulently applied for the refunds because they believed the trades were legitimate.

  • February 27, 2025

    UK Asset Managers Told To Expect Multi-Firm Reviews

    The Financial Conduct Authority has told asset managers in a "dear CEO" letter that it will start multi-firm reviews focused on the Consumer Duty and conflicts of interest in specialist areas.

  • February 27, 2025

    SFO Abandons Canary Wharf Move To Bolster Operations

    The Serious Fraud Office has dropped plans to move its headquarters from central London to Canary Wharf to reinvest the money into its case work, including a recently created asset confiscation unit.

  • February 27, 2025

    FCA Abolishes Requirement For Consumer Duty Champions

    The Financial Conduct Authority said Thursday it has abolished the requirement for firms to have Consumer Duty board champions and will implement around 50 other growth proposals shortly.

  • February 27, 2025

    SRA Chief Exec To Retire Amid Torrid Times For Watchdog

    The solicitors' watchdog said Thursday that chief executive Paul Philip will retire after more than a decade in the job, amid a turbulent period for the watchdog that has sparked calls for changes at the top.

  • February 26, 2025

    Law Commission Unveils Plan To Overhaul Criminal Appeals

    The criminal appeals system in England and Wales needs to be reformed to allow the wrongfully convicted to successfully challenge their convictions, an independent legal body recommended on Thursday.

  • February 26, 2025

    Billionaire Claims HMRC Failed To Hold Lawful Tax Inquiry

    HM Revenue & Customs failed to lawfully notify the right people in its investigation of tax returns for two partnerships, counsel for a hedge fund billionaire told a London court Wednesday.

  • February 26, 2025

    Law Firm Denies Botching Advice On Failed Flat Purchases

    A law firm has denied giving negligent advice to investors regarding their failed purchases of flats in a property development, telling a London court that they helped ensure their own downfall by not exploring how risky the deals were.

  • February 26, 2025

    3 Fraud Reforms You Might Have Missed In The Crime Bill

    Buried in legislation designed to crack down on phone thieves and anti-social behavior in the government's new crime bill are a range of reforms intended to strengthen the hand of prosecutors as they fight economic crime.

  • February 26, 2025

    Ex-Pupils Pursue Group Claim Against Infected Blood School

    A senior judge apologized on Wednesday to former pupils of a school at the center of an infected blood scandal over the technical nature of a court hearing to decide whether a group litigation order can be granted in a claim for damages.

  • February 26, 2025

    Axiom Ince Crash Sparks Tougher SRA Action Against Firms

    The collapse of Axiom Ince Ltd. has "spurred" the solicitors' watchdog into taking more action against law firms over suspected dishonesty and financial misconduct, according to data published on Wednesday by accountants Hazlewoods LLP.

  • February 26, 2025

    Lawyer Suspended For Improper Use Of Client Account

    A City solicitor who was convicted in 2023 for tipping off a client about an anti-money laundering investigation by the Serious Fraud Office has been suspended by a tribunal for improper use of a client account.

  • February 25, 2025

    Ex-Allianz Exec Avoids Prison As Massive Fraud Case Wraps

    A Manhattan federal judge on Tuesday allowed a former fund executive from New Jersey to avoid prison for lying to clients of Allianz's U.S. unit, citing his cooperation as the government investigated a fraud that cost the German finance giant $6 billion.

  • February 25, 2025

    Austrian Bankers' Extradition Bogged Down Over Toilet Space

    An English court has temporarily barred the extradition of an Austrian banker to face money laundering charges in the U.S. over a Brazilian corruption scandal, saying on Tuesday it wanted assurances that his cell would meet minimum space requirements — excluding the toilet.

  • February 25, 2025

    BBC Admits Falling Short On Misconduct Claims Against DJ

    The BBC apologized on Tuesday for its failure to address a pattern of behavior by former radio DJ Tim Westwood after an investigation found that it had "missed opportunities" to act on concerns about his conduct, including evidence of bullying and misogynistic behavior.

  • February 25, 2025

    Apple Exploited App Market, Developers Say In £1.5B Trial

    Apple was accused Tuesday in a £1.5 billion ($1.9 billion) London competition trial of charging app developers excessively high commissions even when they willingly agreed to pay them, in closing arguments of the first U.K. class action trial against a Big Tech company.

Expert Analysis

  • Key Takeaways From Proposed EU Anticorruption Directive

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    The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.

  • Implications Of EU Network Directive For Data Center Owners

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    With the October implementation deadline of the EU’s new cybersecurity regime under the Network Systems Directive fast approaching, data center owners and operators need to consider compliance steps, and U.K. companies providing services in the EU should take note, say lawyers at Bird & Bird.

  • New EU Guidelines Provide Insights On Global AI Regulation

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    The European Data Protection Supervisor’s first guidelines on artificial intelligence only apply to governmental bodies, but together with the EU AI Act they demonstrate a strong and prescriptive policy, and offer a glimpse into what could be the next phase in world AI regulation, says Kevin Benedicto at Redgrave.

  • Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.

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    The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.

  • Keeping Up With Carbon Capture Policy In The US And EU

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    Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.

  • How AI Treaty Will Further Global Governance Cooperation

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    The EU’s recently adopted treaty on artificial intelligence represents a significant step toward global cooperation in AI governance in emphasizing human rights obligations, although additional guidance and clarity would be beneficial to minimize varied interpretations at national level, say lawyers at Eversheds Sutherland.

  • EU Investor-State Dispute Transparency Rules: Key Points

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    The European Union's recent vote to embrace greater transparency for investor-state arbitration will make managing newly public information more complex for all parties in a dispute — so it is important for stakeholders to understand the risks and opportunities involved, say Philip Hall, Tara Flores and Charles McKeon at Thorndon Partners.

  • How Regulation Of Tech Providers Is Breaking New Ground

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    The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.

  • Takeaways From EU's Initial Findings On Apple's App Store

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    A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.

  • Why Trustees Should Take Note Of Charity Code Consultation

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    The Charity Governance Code Steering Group's recently launched governance code consultation is unlikely to result in a radical overhaul, but with the bigger issue being awareness and application by smaller underresourced charities, trustees should engage with the process to help shape the next iteration of this valuable tool, says Chris Priestley at Withers.

  • What EU Net-Zero Act Will Mean For Tech Manufacturers

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    Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.

  • Complying With EU Commission's Joint Purchasing Rules

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    One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.

  • Tips For Implementing EU Sustainability Reporting Guidance

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    Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.

  • How CMA's AI Strategic Update Addresses Industry Risks

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    The Competition and Markets Authority’s recent artificial intelligence strategic update, setting out the regulator’s understanding of AI risks and how it intends to address them, is indicative of its focus on incumbent technology organizations, although future political developments in the U.K. may also shape the CMA's approach, say Christopher Foo and Carol Slattery at Ropes & Gray.

  • Labour's 'Fresh Approach' To Tackling Financial Crime

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    Given newly elected Prime Minister Sir Keir Starmer’s background as a criminal defense lawyer and director of public prosecutions, an administration with strong views on financial crime can be expected, and revenue raising and proceeds of crime recovery are likely to be at the forefront, says Matthew Cowie at Rahman Ravelli.

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