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Corporate Crime & Compliance UK
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March 18, 2025
Russian Used Family To Evade Sanctions, Prosecutors Say
A former Russian politician appointed by President Vladimir Putin enlisted his family to dodge U.K. sanctions in order to open a bank account, buy a Mercedes and send his children to private school, prosecutors alleged at trial in London on Tuesday.
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March 18, 2025
EU To Push On With OECD Tax Plan, Official Says
The European Union remains committed to the two-pillar international tax plan designed by the Organization for Economic Cooperation and Development despite U.S. opposition, the EU's tax commissioner said Tuesday.
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March 18, 2025
Watchdog Probes MHA's Audit Of Failed UK Builder ISG
The accounting watchdog said Tuesday that it has launched an enforcement investigation into accountancy firm MacIntyre Hudson LLP over its audit of failed construction services company ISG Ltd.
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March 18, 2025
Ex-Kebab Biz Owner Sues Accountants Over Share Deal Fraud
The former owner of a kebab meat supplier has alleged that an accountancy firm negligently accepted a fraudulently signed document and lost him his stake of almost £2.5 million ($3.2 million) in the business while he served time in prison.
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March 17, 2025
Companies House Opens Up For Corporate Service Providers
Britain's executive government agency for maintaining the register of companies said Tuesday that it would now allow third-party accountants, legal professionals and company formation agents to register as authorized corporate service providers on its website.
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March 17, 2025
Meta Facing Investor Suit Over €1.2B EU Data Privacy Fine
A pair of pension funds on Monday filed suit against Meta Platforms Inc. in Delaware's Court of Chancery, accusing the company of repeatedly violating data privacy laws, a pattern that the funds say led to the company being fined €1.2 billion ($1.3 billion) by European authorities.
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March 17, 2025
Employers Not Off The Hook After DEI Rollback, Lawyers Warn
The Financial Conduct Authority's decision to drop its workforce DEI initiatives does not mean employers are off the hook as the government pushes ahead with workers' rights legislation, but attorneys say the rollback might convince other organizations to pause or reconsider their diversity, equity and inclusion programs.
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March 17, 2025
UK Court Affirms £300K Tax Bill For Ex-Soccer Star's TV Gig
The First-tier Tribunal was correct to find that Sky UK Ltd. employed Phil Thompson, the former captain of the Liverpool Football Club, for television appearances through his intermediary company that is liable for nearly £300,000 ($390,000) in income tax and national insurance contributions, the Upper Tribunal said Monday.
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March 17, 2025
Ex-Manager Says Drax Was 'Toxic' Before Her Firing
A former manager at Drax told a tribunal Monday that she was "not responsible" for the breakdown of her relationships with her colleagues during the trial of her claim against the energy company for allegedly firing her for whistleblowing over alleged sustainability failings.
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March 17, 2025
Kuwait Pension Fund Says Director Ran $1B Bribery Scheme
The former director of Kuwait's pensions authority orchestrated a two-decade-long "unlawful scheme of corrupt payments" in excess of $1 billion, lawyers for the authority said at the opening of a bribery trial in London on Monday.
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March 17, 2025
6 Bombshell Moments From Staley's Bid To Clear His Name
Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
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March 17, 2025
Google Fights To Trim Antitrust Trial Over Shopping Service
A shopping comparison website urged Britain's specialist competition tribunal on Monday to reject Google's bid to trim the scope of an upcoming antitrust trial over alleged unfair search results.
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March 17, 2025
Russian Ship Captain Charged Over North Sea Collision
The captain of a cargo ship that collided with an oil tanker in the North Sea has been charged with gross negligence manslaughter, the Crown Prosecution Service has said.
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March 17, 2025
FCA Fines, Bans Odey For Obstructing Misconduct Probe
The Financial Conduct Authority banned Crispin Odey on Monday and fined the hedge fund boss £1.8 million ($2.3 million) after concluding that he had attempted to thwart an internal probe into sexual misconduct allegations.
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March 14, 2025
Police Expand Probe To Individuals At Lucy Letby Hospital
Detectives in the corporate manslaughter investigation into the hospital that employed Lucy Letby are now examining potential manslaughter charges against individuals, as the lawyer for the former nurse convicted of murder over the death of seven babies criticized the probe.
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March 14, 2025
Judge Splits $79M Judgment In Danish Tax Fraud Case
A New York federal judge divided a nearly $79 million judgment against four investors and their pension plans after a jury in February found them liable for participating in a tax fraud scheme against the Danish government.
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March 14, 2025
Entrepreneur Loses Appeal Over £14M Barclays Asset Freeze
A businessman has lost his bid to overturn a ruling that he breached a £13.7 million ($17.5 million) freezing order in a fraud case, with an appeals court ruling Friday that a judge's findings were not wrong.
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March 14, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen J.P. Morgan face action by the founder of Viva Wallet in an ongoing feud over the company's takeover, retailer Next Group contest a claim by the home ware brand owned by private members' club Soho House, and the venue of the Wimbledon Championships sue a local group opposed to its plans to build new tennis courts on protected land in Wimbledon Park.
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March 14, 2025
Alleged Putin Ally Faces Landmark Sanctions Evasion Trial
A former Russian politician and his wife were due to stand trial on Monday in the first prosecution brought in the U.K. for criminal sanctions evasion over allegations that they circumvented the restrictions by opening a bank account and obtaining car insurance.
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March 14, 2025
Struck-Off Lawyer Can't Lift Ban After Misleading HMRC
A former consultant solicitor who misled HM Revenue and Customs to get a refund on stamp duty land tax has failed to have his professional ban lifted as a London court ruled on Friday that the sanction was fair and justified.
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March 14, 2025
Ex-Reform UK Wales Chief To Stand Trial In 2026
The former leader of the right-wing populist Reform Party's Welsh arm is expected to stand trial in June 2026 to face allegations that he took bribes to support Russia in the European Parliament, a judge at a London court said Friday.
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March 13, 2025
UN Judge Convicted Of Modern Slavery Offenses In UK
A United Nations judge was convicted of modern slavery Thursday after a British jury found that she had forced a woman to be her unpaid nanny.
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March 13, 2025
Staley Denies Using Daughter As Intermediary With Epstein
Jes Staley denied using his daughter as an intermediary to communicate with Jeffrey Epstein after he said he cut off the disgraced financier, as he gave evidence to a tribunal Thursday.
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March 13, 2025
Trump's EU Threat May Aim To Boost Negotiation Leverage
President Donald Trump continued his trade tactics Thursday, threatening a 200% tariff on European alcohol imports that is almost certain to be another tool to leverage in future negotiations despite the economic uncertainty it creates.
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March 13, 2025
Ex-Manager Says Drax Tried To Hide Sustainability Failings
A former public affairs manager at British energy company Drax Power Ltd. told a London tribunal on Thursday that bosses sacked her to try to silence her after she blew the whistle over concerns about alleged sustainability failings.
Expert Analysis
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EU Paper Urges Data Protection And Competition Law Unity
A recent European Data Protection Board position paper calls for closer cooperation among data protection and competition authorities, and provides valuable insight for businesses seeking to ensure compliance across an increasingly complex regulatory landscape, say lawyers at Paul Weiss.
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Market Infrastructure Regs Aim To Reinvigorate EU Trading
The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Why EU Omnibus Package Is Receiving Mixed Reactions
Although the forthcoming European Union omnibus simplification package consolidating corporate sustainability reporting requirements aims to reduce the regulatory burden on businesses, reaction to the proposals has been mixed, and reassurance is needed that these measures will not result in a watering down of the legislation, say lawyers at Peters & Peters.
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Review Of Computer Evidence Use Raises Complex Issues
The Ministry of Justice’s recent call for a review of computer-generated evidence used in criminal proceedings, solicits questions of how such evidence will be defined while also ensuring that changes can withstand technological advances and uphold the effective functioning of the criminal justice system, say lawyers at BCL Solicitors.
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How Proposed Private Share Trading System May Benefit Cos.
The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.
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New Bill Introduces Important Whistleblower Protections
If enacted, a bill that proposes the establishment of an independent whistleblower office in the U.K. offering protected disclosures will encourage individual whistleblowers, and alleviate the pressure for companies to investigate complaints, say lawyers at Tenet Law.
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Important Changes To Note In Accountant Ethics Code Update
The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.
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What EU Sustainable Category Proposals Will Mean For Funds
The European Union Platform on Sustainable Finance’s recent proposals to apply stricter product categorization standards for funds subject to the Sustainable Finance Disclosure Regulation will assist retail investors in selecting sustainable products, and allow advisers to easily match their clients’ preferences, say lawyers at Debevoise.
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What To Expect As CAT Considers Mastercard Settlement
It is expected that the Competition Appeal Tribunal will closely scrutinize the proposed collective settlement in Merricks v. Mastercard, including the role of the case’s litigation funder, as the CAT's past approach to such cases shows it does not treat the process as a rubber stamp exercise, say lawyers at BCLP.
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Managing Transatlantic Antitrust Investigations And Litigation
As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.
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What 2025 Holds For UK, EU Restructuring And Insolvency
European Union and U.K. restructuring developments in 2024, with a new era of director accountability, the use of cramdown tools and the emergence of aggressive liability management exercises, mean greater consideration of creditors' interests and earlier engagement in restructuring discussions can be expected this year, says Inga West at Ashurst.
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What To Know As EU Urges Outbound Investment Reviews
A recent European Commission recommendation urges European Union member states to review outbound investments in certain critical technologies sectors, but does not clarify the next steps for states once information on relevant transactions in third countries is received, say lawyers at Cleary.
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Competition Act Brings Important UK Merger Control Changes
Although recently effective sections of the Digital Markets, Competition and Consumers Act provide clarity on the transactions that may attract Competition and Markets Authority attention, some reforms potentially expanding the regulator's scope may be concerning to transacting parties, say lawyers at Fried Frank.
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How GCs Can Protect Cos. From Geopolitical Headwinds
Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.