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Corporate Crime & Compliance UK
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February 20, 2025
Gambling Watchdog Denies Publication Hurt Ex-Entain Execs
The Gambling Commission has denied that it caused two former top executives at the predecessor of betting giant Entain "unquantifiable" harm by publishing information relating to potential bribery.
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February 20, 2025
Conflicts Should Block Mastercard Settlement, Innsworth Says
Litigation-funder Innsworth told the Competition Appeal Tribunal on Thursday that the negotiating process behind a £200 million ($250 million) settlement to end a mass claim against Mastercard has created conflicts of interest which mean the deal should be refused.
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February 20, 2025
FCA Explains Deleted Emails Plan As Modernization Move
The Financial Conduct Authority has said its plan to delete staff emails after a year is designed to modernize how it manages its records, amid criticism that the proposals undermined transparency at the regulator.
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February 20, 2025
Justices Hand Creditors Boost In Hunt For Fraudulent Assets
Britain's top court has broadened the ability of judges to claw back assets on behalf of defrauded creditors in a decision that lawyers say may also catch benign commercial arrangements.
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February 20, 2025
Job Applicants Don't Need Whistleblowing Rights, UK Argues
The government argued on Thursday that it is "perfectly justified" that job applicants do not benefit from the same whistleblowing rights as workers as it responded to a woman's attempt to convince the Court of Appeal to extend legal protection to her.
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February 20, 2025
Lloyds Sets Aside £700M For Motor Finance Probe Costs
Lloyds said Thursday that it has set aside an additional £700 million ($880 million) to cover potential costs arising from a Financial Conduct Authority investigation into "secret" agreements on motor finance commissions and a related appeal at the top U.K. court.
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February 19, 2025
Gov't Unfairly Fired Whistleblower On Afghanistan Exit
A civil servant has won a landmark unfair dismissal case after losing her job following a BBC Newsnight interview about the "chaotic" evacuation of Afghan citizens during NATO's withdrawal.
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February 19, 2025
Law Prof Can't Revive £500M Apple, Amazon Class Action
A law professor lost a bid to revive her nearly £500 million ($628 million) price-fixing class action against Apple and Amazon on Wednesday, with a U.K. competition tribunal reiterating that she was not independent enough to bring the case.
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February 19, 2025
Gov't Can Shield Material In Case Over Leaked Trump Cables
A London judge on Wednesday agreed to let the government withhold sensitive evidence in its fight with a civil servant who claims he was falsely accused of leaking an ambassador's criticisms of Donald Trump.
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February 19, 2025
Former Latham Secretary Accused Of Defrauding Partner
A former secretary for a Latham & Watkins LLP partner appeared at a London criminal court on Wednesday on charges of defrauding £39,800 ($50,000) from him.
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February 19, 2025
CMS Cashier Barred From Law Firms For Stealing Funds
A cashier at CMS Cameron McKenna Nabarro Olswang LLP has been barred from working for a law firm after she abused her position on more than 100 occasions to steal a "considerable" amount of money from the firm, the Solicitors Regulation Authority has said.
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February 19, 2025
Job Applicant Fights For Whistleblowing Rights In Appeal
An external job applicant to an English council fought Wednesday for status to sue as a whistleblower, arguing at the Court of Appeal that her case falls "squarely within the employment field."
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February 19, 2025
Mastercard Deal Does Not Need To Be Perfect, Tribunal Told
Mastercard's £200 million ($250 million) agreement with Walter Merricks "does not have to be perfect" to get approval from the Competition Appeal Tribunal, lawyers for both sides argued on Wednesday in the court's first hearing in a contested class action settlement.
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February 19, 2025
FCA Calls For Probe Into Digital Wallet Competition Issues
The Financial Conduct Authority and the Payment Systems Regulator on Wednesday urged the U.K. competition watchdog to investigate competition concerns for digital wallets because of market dominance by big tech groups like Apple and Google.
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February 19, 2025
Barrister Denies Owing Duty To Flag Law Firm's Negligence
A barrister has denied breaching his duties to a technology company by failing to highlight a potential negligence claim against a law firm, as he told a London court that no such obligation existed.
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February 19, 2025
Ex-Stella McCartney Employee Admits Fraud On Design Brand
A former employee of the Stella McCartney fashion brand pleaded guilty at a London criminal court on Wednesday to defrauding the company out of more than £275,000 ($346,300).
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February 19, 2025
Supreme Court Says Businessman Can't Dodge £19M Debt
The U.K. Supreme Court ruled Wednesday that a businessman's family cannot avoid a £19 million ($24 million) debt to a UAE bank, finding that insolvency law can prevent a transaction by a company owned by the family because it was intended to put assets beyond the reach of creditors.
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February 18, 2025
Tycoon Fights Bankruptcy Order Over £1B Debt To Banks
An Indian tycoon asked a London court Tuesday to overturn a bankruptcy order against him that he argued was wrongly issued over a £1 billion ($1.26 billion) debt because several banks had already recovered the money in parallel criminal proceedings.
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February 18, 2025
Pensions Pro Loses Whistleblowing Claim Amid Merger Spat
An employment tribunal has ruled that the head of a financial planning firm did not fire her business partner for blowing the whistle on legal breaches but rather because she stopped doing her job.
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February 18, 2025
All Eyes On CAT Ahead Of Mastercard Settlement Hearing
A £200 million deal to end a long-running consumer class action will come under the spotlight on Wednesday when Walter Merricks and Mastercard seek to persuade the Competition Appeal Tribunal to sign off a settlement despite opposition from the finder of the claim.
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February 18, 2025
Quarter Of UK Cos. Hit By Civil Unrest In 2024, Broker Says
More than one in four U.K. businesses were impacted by civil unrest in 2024, broker Gallagher said Tuesday, with similar numbers reportedly reviewing their insurance to ensure they are covered in the event of future damage or disruption.
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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.
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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.
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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.
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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.
Expert Analysis
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Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
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Behind The Stagecoach Boundary Fare Dispute Settlement
The Competition Appeal Tribunal's recent rail network boundary fare settlement offers group action practitioners some much-needed guidance as it reduces the number of remaining parties' five-year dispute from two to one, says Mohsin Patel at Factor Risk Management.
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Assessing The Energy Act 2023, Eight Months On
Although much of the detail required to fully implement the Energy Act 2023 remains to be finalized, the scale of change in the energy sector is unprecedented, and with the U.K. prioritizing achieving net-zero, it is likely that developments will continue at pace, say lawyers at Paul Hastings.
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Decoding Arbitral Disputes: Spanish Judicial Oversight
The recent conviction of arbitrator Gonzalo Stampa underscores the critical importance of judicial authority in the realm of international arbitration in Spain, and emphasizes that arbitrators must respect the procedural frameworks established by Spanish national courts, says Josep Galvez at 4-5 Gray’s Inn.
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Opinion
Why Timing Makes UK Libor Judgments Controversial
The recent U.K. Court of Appeal decision in the R v. Hayes and Palombo appeal against Libor convictions demonstrates that had U.K. regulators probed with the facts known today, civil claims in all jurisdictions would be dismissed and a decadelong wasted investigation should be put to rest, says Charles Kuhn at Clyde & Co.
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Tips For Orgs Using NDAs In Light Of New UK Legislation
The recent passage of the Victims and Prisoners Act follows a crackdown on the misuse of nondisclosure agreements, but although NDAs are not prohibited and regulators recognize their legitimate justification, organizations relying on them must be able to clearly explain that justification if challenged, say attorneys at Macfarlanes.
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Comparing UK, EU Digital Products Cybersecurity Approaches
New U.K. and EU legislation impose different cybersecurity requirements on manufacturers of connectable products, but despite its higher overall standard and holistic approach, organizations should be aware that compliance with the EU act does not necessarily mean satisfying the U.K. regime, says Christopher Foo at Ropes & Gray.
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Lessons From Epic's Dutch Fine For Unfair Marketing To Kids
Dutch regulators' imposition of a €1.1 million fine on Epic Games for unfair commercial practices targeting children marks a significant moment in the ongoing scrutiny of digital market practices, and follows an increased focus on children's online safety in the U.S. and European Union, say attorneys at Crowell & Moring.
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Risks And Promises Of AI In The Financial Services Industry
Generative artificial intelligence has immense potential to revolutionize the financial services industry, but firms considering its use should first prepare to show their customers and the increasingly divided international regulatory community that they can manage the risks inherent to the new technology, say attorneys at Gibson Dunn.
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EU Anti-Greenwashing Guide Analyzed For Fund Managers
Anna Maleva-Otto and Matthew Dow at Schulte Roth explain how the European Securities and Markets Authority’s new guidelines on sustainability-related terms in fund names aim to protect European Union investors from unsubstantiated claims, and how they provide quantifiable criteria for determining which terms can be used to promote their funds.
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FCA 'Finfluencer' Trial Exposes Social Media Promo Risks
The upcoming Financial Conduct Authority prosecution of nine individuals for Financial Services and Markets Act 2000 violations is the first time an online influencer will be tried for using social media to promote investments, demonstrating the need to be wary of the specific legal requirements surrounding financial product promotion, says David Claxton at Red Lion.
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Appeal Ruling Clarifies 3rd-Party Contract Breach Liability
The Court of Appeal's recent decision in Northamber v. Genee World serves as a warning to parties that they may be held liable for inducing another party to breach a contract, even if that party was a willing participant, say Neil Blake, Maura McIntosh and Jennifer O'Brien at HSL.
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How Law Firms Can Handle Challenges Of Mass Claims
With a wave of volume litigation possibly about to hit the U.K. courts, firms developing mass claim practices should ensure they heed the Solicitors Regulation Authority's May warning and adopt strategies to ensure regulatory compliance and fair client representation, says Claire Van der Zant at Shieldpay.
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EU Directive Significantly Strengthens Enviro Protection
The recently revised European Union directive on environmental protection significantly strengthens its prior legislation and broadens the scope of environmental crime through the introduction of offenses for conduct resulting in severe damage, say Katharina Humphrey and Julian Reichert at Gibson Dunn.
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How Revision Of The EU Works Directive May Affect Cos.
The European Union’s proposed revision of the Works Councils Directive, motivated by perceived shortcomings of existing legislation and the transformation of the world of work, includes significant changes that would increase workers' rights, including through strengthened enforcement and confidentiality provisions, says Thomas Player at Eversheds Sutherland.