Corporate Crime & Compliance UK

  • January 27, 2025

    Trader Faces US Extradition Over $10M Securities Fraud

    A trader wanted for running a "pump and dump" scheme that generated more than $10 million in unlawful stock sales will face extradition to the U.S. at a London court hearing in June, it was confirmed on Monday.

  • January 24, 2025

    Reed Smith Brings Back Tax Pro From Amazon In Brussels

    An attorney who specializes in customs, trade and excise tax matters in the European Union and U.K. has rejoined Reed Smith LLP in Brussels after a stint at Amazon, the firm announced.

  • January 24, 2025

    FCA Settles Claims Law Firm Helped Illegal Investment Plans

    The Financial Conduct Authority said Friday it has settled with a regional law firm over allegations that it helped a client promote a misleading care home investment scheme causing £50 million ($62 million) in losses.

  • January 24, 2025

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

    This past week in London has seen Axa Insurance and Admiral face a claim from a former lawyer recently exposed for personal injury fraud, the owner of Reading Football Club sue a prospective buyer and mobile network Lycamobile tackle action by Spanish network Yogio. Here, Law360 looks at these and other new claims in the U.K.

  • January 24, 2025

    Securities Class Actions Down But Not Out After Suboxone

    The Court of Appeal's refusal to allow investors in Reckitt and Indivior to bring a novel group claim over the marketing of an opioid addiction treatment marks a further setback for shareholders looking to hold listed companies liable for plunges in share prices.

  • January 24, 2025

    SFO Lawyers Say ENRC Win Worth Upwards Of $120M

    A decision barring Kazakh miner ENRC from asserting damages on behalf of its subsidiaries against the Serious Fraud Office could be worth as much as $120 million, the agency's lawyers have said.

  • January 24, 2025

    FBI 'Bait And Switch' Breached Suspect's Rights, Lawyer Says

    FBI agents held an Israeli private investigator accused of hacking climate activists in custody without warning him of his right to remain silent, denying him a fair trial if he is extradited to the U.S., a lawyer testified in London on Friday.

  • January 24, 2025

    Russian Banking Oligarch's Wife Loses Bid To Lift Sanctions

    A Ukrainian-Russian tycoon's wife lost her fight to lift U.K. sanctions against her on Friday as an appellate court ruled that the restrictions were a proportionate way of undermining the Kremlin after Russia invaded Ukraine.

  • January 23, 2025

    Ex-Amazon Exec Will Oversee Google, Apple Probe In UK

    The U.K.'s competition enforcer said Thursday it will be looking into how Google and Apple's "mobile ecosystems" have been affecting competition for both consumers and businesses, an announcement that comes just days after the watchdog booted its leader for a former Amazon head honcho.

  • January 23, 2025

    UK Gov't Tones Down Plan For Non-Dom Tax Changes

    The U.K. government will amend its finance bill to soften its plan to abolish the nondomicile tax status for people claiming tax benefits as nonresidents, Exchequer Chancellor Rachel Reeves said in an interview broadcast Thursday.

  • January 23, 2025

    FCA Finds Gaps In Brokers' Money Laundering Defenses

    The Financial Conduct Authority on Thursday urged brokers to tighten anti-money laundering controls, after a review it ran found gaps in their defenses against the flow of tainted cash through Britain's capital markets.

  • January 23, 2025

    Poland's €23M For Chemical Co. Clears EU State Aid Inquiry

    The Polish government didn't break state aid law when it awarded €23 million ($23.9 million) to a chemical producer to open a production plant, the European Commission said Thursday.

  • January 23, 2025

    Watchdog Restricts Scottish Broker Over Premium Concerns

    The Financial Conduct Authority has restricted a Scotland-based insurance broker from carrying out regulated activities over "concerns" the business has sold policies but failed to pass on payments to insurers.

  • January 23, 2025

    Litigation-Funder Sues Merricks Over Mastercard Settlement

    A representative of more than 45 million U.K. consumers in a class action against Mastercard is being sued by his litigation-funder over his decision to reach a settlement in the £10 billion ($12.3 billion) case for £200 million.

  • January 23, 2025

    5 Questions For Katten Partner Nathaniel Lalone

    The Digital Operational Resilience Act has set tough new rules for financial businesses in the European Union to prevent disruptions in digital services from external providers. Here, Nathaniel Lalone, of Katten Muchin Rosenman LLP, tells Law360 about how the act could have an impact on some financial entities in Britain.

  • January 23, 2025

    Police Sanction Of Sex Pest Cop Deficient, Appeal Court Finds

    The Metropolitan Police said it would reconvene a misconduct panel to interrogate historical claims of sexual harassment against a former detective chief inspector with the London force after the Court of Appeal ruled it had provided inadequate reasons for its initial sanction.

  • January 23, 2025

    SFO Cuts $80M From ENRC's Claim Over Criminal Probe

    A judge cut $80 million off ENRC's claim against the Serious Fraud Office over the agency's criminal investigation into the Kazakh miner on Thursday, finding that the company's lawyers "took their eye off the ball" and let the issue slide.

  • January 23, 2025

    Reckitt Investors Lose Bid For Opioid Representative Claim

    Investors' claims against Reckitt and Indivior over the misleading marketing of an opioid addiction drug can proceed only as multiparty proceedings, the Court of Appeal ruled Thursday, denting the prospects of representative actions being used in securities litigation.

  • January 22, 2025

    Dubai-Based Exchange Fined $9.2M To End Bank Fraud Probe

    A Dubai, United Arab Emirates-based financial services company has agreed to pay $9.2 million to U.S. prosecutors over a U.K. subsidiary's false claims that it was in compliance with anti-money laundering laws, avoiding criminal charges.

  • January 22, 2025

    Former Oil Execs Beat Decade-Long $335M Fraud Claim

    Former top executives at oil trader Arcadia Group defeated a near decade-long $335 million fraud claim Wednesday after a London court dismissed allegations the men had diverted oil trading profits into their own pockets.  

  • January 22, 2025

    Eurochem Group Founder Loses Bid To Lift EU Sanctions

    Russian billionaire Andrey Melnichenko, the founder of fertilizer giant Eurochem Group, lost a bid to have European Union sanctions lifted on Wednesday as a court ruled that they should remain in place.

  • January 22, 2025

    UK Gov't To Tap Into Bank Accounts Of Benefits Fraudsters

    Benefits cheats who fail to reimburse taxpayers could have cash owed taken directly from their bank accounts, as part of the U.K. government's plan to launch the "biggest fraud crackdown in a generation."

  • January 22, 2025

    Israeli Accused Of Hacking For ExxonMobil Fights Extradition

    A private investigator accused of hacking activists to help ExxonMobil undermine climate-change litigation targeting the oil giant appeared at a London court on Wednesday for the start of proceedings to extradite him to the U.S.

  • January 22, 2025

    SFO's 1st UWO Hints At New Strategy In Hunt For Illicit Funds

    The first unexplained wealth order secured by the Serious Fraud Office, against the former wife of a convicted solicitor, suggests that the agency is thinking creatively about how to use the dirty-money tools at its disposal, although lawyers wonder whether it will be a durable strategy.

  • January 22, 2025

    Prince Harry Settles Case Against Murdoch's News Group

    Prince Harry settled his legal case against the U.K. arm of Rupert Murdoch's media empire on Wednesday as the publisher agreed to pay "substantial damages," apologized for intruding into his private life and admitted that unlawful actions were carried out at its Sun tabloid.

Expert Analysis

  • Tips For Orgs Using NDAs In Light Of New UK Legislation

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    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.

  • Comparing UK, EU Digital Products Cybersecurity Approaches

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    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.

  • Lessons From Epic's Dutch Fine For Unfair Marketing To Kids

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    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.

  • Risks And Promises Of AI In The Financial Services Industry

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    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.

  • EU Anti-Greenwashing Guide Analyzed For Fund Managers

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    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.

  • FCA 'Finfluencer' Trial Exposes Social Media Promo Risks

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    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.

  • Appeal Ruling Clarifies 3rd-Party Contract Breach Liability

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    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.

  • How Law Firms Can Handle Challenges Of Mass Claims

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    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.

  • EU Directive Significantly Strengthens Enviro Protection

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    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.

  • How Revision Of The EU Works Directive May Affect Cos.

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    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.

  • What The New Digital Markets Bill Will Mean For Companies

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    The recently passed Digital Markets, Competition and Consumer Bill will bring significant reform to U.K. merger control and antitrust rules for all businesses, but the introduction of a strategic market status regime and its reporting obligations means large tech organizations in particular need to think carefully about the forthcoming changes, say lawyers at Linklaters.

  • EU's AI Act: Pitfalls And Opportunities For Data Collectors

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    The European Union’s new Artificial Intelligence Act entails explicit requirements and limitations throughout the AI value chain that might affect firms directly or indirectly dealing with AI development, such as data-as-a-service companies and web scraping providers, says Denas Grybauskas at Oxylabs.

  • FCA Doubles Down On New Priorities With Target ID Plan

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    Respondents to the Financial Conduct Authority’s recent consultation on its plan to publicly name subjects under investigation are concerned that the regulator’s cost-benefit analysis has not adequately considered the risks, but the FCA is holding firm, and it seems likely the changes will be implemented, says James Tyler at Peters & Peters.

  • Insurance Ruling Stresses High Hurdle To Fix Policy Wording

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    In Project Angel v. Axis, the Court of Appeal recently refused to rewrite the exclusion clause of an insurance policy, reminding parties in the warranty and indemnity market to carefully word clauses, as there is a high threshold before courts will intervene to amend policies, say Joseph Moore and Laura McCann at Travers Smith.

  • CMA Reports Signal Tighter Scrutiny Of AI Model Markets

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    The Competition and Markets Authority’s recent reports on artificial intelligence foundation models suggest that competition in AI is not working as it should, so large digital firms can expect the regulator to use its full toolbox as it continues to monitor and investigate the sector, say lawyers at Cooley.

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