Corporate Crime & Compliance UK

  • February 06, 2025

    Woman In Spy Trial Denies Knowledge Of 'Honey Trap' Plot

    A woman accused of spying for Russia told a criminal court Thursday that she did not know that her paymasters intended to use her as a "honey trap" to seduce an investigative journalist and Kremlin critic.

  • February 06, 2025

    Allianz UK Detects £157M 'Record' Level Of Fraud In 2024

    Allianz UK on Thursday said it uncovered a total of £157.24 million ($195.94 million) worth of insurance fraud in 2024 — a 10% year-on-year increase in part driven by the rising cost of living increasing the number of consumers turning to scams.

  • February 06, 2025

    Visas Driving Migrant Labor Abuse, UK Watchdog Warns

    Sponsored visa schemes are the most likely cause of a rise in labor exploitation, the U.K.'s equality watchdog has said in a report to the United Nations.

  • February 06, 2025

    Stellantis Companies Can't Bring Cartel Claim In England

    Maserati and other car manufacturers had their cartel claim against auto parts makers in England struck out by a London court that ruled that issuing the proceedings in the country was a "deliberate litigation strategy" to prove their case.

  • February 06, 2025

    Wine Biz CFO Fights US Extradition Over Alleged $99M Fraud

    A wine company's former chief financial officer accused of cheating investors out of $99 million by persuading them to make interest-bearing loans using valuable wine collections as collateral urged a London judge Thursday to overturn a decision to allow his extradition to the United States.

  • February 06, 2025

    Mastercard Deal Battle Goes Through The Looking Glass

    The landmark class action brought by Walter Merricks against Mastercard has entered "Alice in Wonderland" territory, as the credit card giant is now backing the class representative who sued it in his dispute with his litigation funder over the terms of the controversial settlement, analysts say.

  • February 06, 2025

    FCA Rejects Complaints On Handling Of Blackmore Collapse

    The Financial Conduct Authority said Thursday that it has written to thousands of investors to reject complaints about how it handled the case of Blackmore Bond PLC, a minibonds provider that collapsed in 2021, but has agreed to pay them compensation for its slow response.

  • February 05, 2025

    FCA Told To Shelve Controversial Investigation Plans

    The Financial Conduct Authority should not go ahead with controversial plans to name firms under investigation at an earlier stage unless it can ensure the proposals sufficiently balance increased transparency and managing the potential risks to firms, a House of Lords committee said Thursday.

  • February 05, 2025

    EU Guidance Clarifies AI Rules, But Key Concepts Lack Detail

    Lawyers broadly welcomed the European Commission's belated guidance on newly enforced laws banning so-called artificial intelligence systems that pose an unacceptable risk Wednesday, but are wary of provisions regarding how AI providers should crack down on the prohibited use of their systems.

  • February 05, 2025

    Naomi Campbell Wins Shot To Fight Charity Trustee Ban

    Supermodel Naomi Campbell has been granted permission to challenge a decision by the U.K.'s charity watchdog banning her as a charity trustee after she claimed that her fellow trustee had impersonated her in correspondence with lawyers.

  • February 05, 2025

    UK Gov't Data Shows Rise In Legal Sector Data Breaches

    Data breaches in the U.K. legal sector have increased by more than a third, impacting 7.9 million individuals in the 12 months that ended July 1, 2024, according to an analysis released Wednesday of U.K. Information Commissioner's Office data by document and email management company NetDocuments.

  • February 05, 2025

    Directors Banned For Misleading Student Housing Investors

    The U.K.'s Insolvency Service has banned three men as company directors for misleading investors who had put over £4 million ($5 million) into a student housing development but were left uncompensated when the development companies became insolvent.

  • February 05, 2025

    EU Sets Out Actions For E-Commerce Import Rules

    The European Commission said Wednesday it is raising customs controls on low-value imports flowing into the European Union via online retailers and marketplaces hosting non-European traders.

  • February 05, 2025

    Insurers Say Stranded Jets Not Covered By War Risks Policies

    War-risk insurers argued Wednesday that they should not have to cover losses of aircraft stranded in Russia after the invasion of Ukraine, arguing airlines retaining the aircraft were not covered by the leasing airlines' insurance policy.

  • February 05, 2025

    Tycoon Can Redo Confiscation Fight After Fraud Conviction

    A businessman imprisoned for eight years for failing to repay £4.5 million ($5.6 million) following a conviction for fraud can re-argue his case after the Court of Appeal said Wednesday that there is new evidence he might be serving longer than necessary.

  • February 05, 2025

    Guarantors Fight To Stay Russian Boat Lessor's $60M Claim

    A group of Cypriot businesses that acted as guarantors for a ship financing deal with a Russian state-owned lessor that soured after the country's invasion of Ukraine have asked a London court to stay the Russian businesses' $60 million claims against them.

  • February 05, 2025

    Construction Industry Insiders Get Prison For £22M Tax Fraud

    A group of seven construction industry insiders has been sentenced to between nine years and four months and two years in prison for their roles in a tax fraud in which an estimated £22 million ($28 million) was hidden from the U.K. tax authorities. 

  • February 04, 2025

    Israeli Bids To Block US Extradition Over Prison Conditions

    An Israeli private investigator accused of hacking environment activists to help Exxon Mobil Corp. undermine climate-change litigation argued in court Tuesday that his extradition to the U.S. should be blocked due to "inhumane treatment" in New York prisons.

  • February 04, 2025

    Whistleblowing Failures Cost Gov't £426M, Report Finds

    Failing to heed whistleblowers contributed to three major scandals that cost the U.K. government over £426 million ($529 million), a whistleblowing charity said in a report Tuesday as it demanded urgent reforms.

  • February 04, 2025

    UniCredit Bids To Undo Ruling Blocking Gazprom Unit's Claim

    UniCredit Bank AG urged an appeals court Tuesday to overturn an order blocking a Gazprom joint venture from bringing a €450 million ($467 million) claim against it in Russia under bond guarantees linked to an aborted gas plant project.

  • February 04, 2025

    Salmon Farmers Fight To Gut Retailers' £675M Cartel Case

    A group of salmon producers fought on Tuesday to keep a £675 million ($843 million) cartel claim brought by several of the U.K.'s largest supermarkets out of Britain, arguing at a London tribunal that the case should be heard in Norway.

  • February 04, 2025

    Sustainable Growth Must Take Pensions Priority, LCP Says

    Government plans to drive growth in the U.K. through redirected investment from retirement savings schemes must prioritize environmental concerns and sustainability, a consultancy said Tuesday.

  • February 04, 2025

    FCA Warns Smaller Payment Firms Of Consumer Duty Failings

    The City watchdog has warned smaller payments firms that they sometimes fail to act in the best interests of customers and have weaknesses in their financial crime controls.

  • February 03, 2025

    'Far-Reaching' EU Ban On High-Risk AI Models Now In Effect

    The European Union on Sunday ushered in key laws to rein in the use of artificial intelligence systems that pose an "unacceptable risk," but a lack of guidance from the bloc has companies in the dark.

  • February 03, 2025

    SFO Review Finds No Evidence Of Unsound Convictions

    The Serious Fraud Office's review into its old electronic discovery system has not produced any evidence that past convictions are unsound, the agency said on Monday. 

Expert Analysis

  • Implications Of The EU AI Act For Medtech Companies

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    Lawyers at Hogan Lovells discuss challenges the medtech sector faces in conforming with the requirements of the recently enacted European Union Artificial Intelligence Act, and the necessity for a detailed comparison with existing legislation to identify and address potential gaps.

  • Insurance Rulings Show Court Hesitancy To Fix Policy Errors

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    Two recent Court of Appeal insurance decisions highlight that policyholders can only overcome policy drafting errors and claim coverage if there is a very obvious mistake, emphasizing courts' reluctance to rewrite contract terms that are capable of enforcement, says Aaron Le Marquer at Stewarts.

  • What New UK Listing Rules Mean For Distressed Companies

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    The Financial Conduct Authority’s recently published overhaul of U.K. listing rules makes it easier for advisers to restructure distressed listed companies, and in moving to a more disclosure-based approach, simplifies timelines and increases opportunities for investors, say Kate Stephenson and Sarah Ullathorne at Kirkland & Ellis.

  • AI Reforms Prompt Fintech Compliance Considerations

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    With the EU Artificial Intelligence Act's Aug. 1 enforcement, and the U.K.'s new plans to introduce AI reforms, fintech companies should consider how to best focus limited resources as they balance innovation and compliance, says Nicola Kerr-Shaw at Skadden.

  • Irish Businesses Should Act Now To Prepare For EU AI Act

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    Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.

  • Takeaways From World Uyghur Congress Forced Labor Ruling

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    The Court of Appeal’s recent judgment in the World Uyghur Congress' case against the National Crime Agency confirms that companies dealing in goods that they suspect to be products of forced labor are potentially liable to criminal prosecution, presenting significant legal risks that cannot always be mitigated through conducting supply chain due diligence, say lawyers at King & Spalding.

  • 10 Ways To Manage AI Risks In Service Contracts

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    With the European Union Artificial Intelligence Act coming into force on Aug. 1 and introducing a new regulatory risk, and with AI technology continuing to develop at pace, parties to services arrangements should employ mechanisms now to build in flexibility and get on the front foot, says James Longster at Travers Smith.

  • What Future May Hold For AI Innovation In UK Under Labour

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    Labour’s recent King's Speech was notable in its absence of discussion of a comprehensive artificial intelligence bill, and while this may indicate to many that the UK is open for business, the party’s approach to cross-sectoral engagement will be critical for shaping Britain's AI landscape in the near term, says Alexander Amato-Cravero at Herbert Smith.

  • Unpacking The New Concept Of 'Trading Misfeasance'

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    In addition to granting one of the largest trading awards since the Insolvency Act was passed in 1986, the High Court recently introduced a novel claim for misfeasant trading in Wright v. Chappell, opening the door to liability for directors, even where insolvent liquidation or administration was not inevitable, say lawyers at Greenberg Traurig.

  • EU WhatsApp Deletion Fine Sends Clear Message

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    The recent European Commission fine of International Flavors & Fragrances — the first for the deletion of social media messages during a dawn raid — although halved as a result of IFF's cooperation, shows the commission's view on obstruction poses a real risk to companies under investigation, says Matthew Hall at McGuireWoods.

  • 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.

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