Corporate Crime & Compliance UK

  • 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. 

  • February 03, 2025

    All-Risk Insurers Demand War-Risk Payouts For Stranded Jets

    Insurers that covered aircraft lessors whose planes were stranded in Russia after the invasion of Ukraine told a London court on Monday that other insurers that covered the lessors for war-related risks should pay out for the allegedly lost aircraft.

  • February 03, 2025

    Uyghur Rights Group To Sue FCA If Shein Gets LSE Listing

    A Uyghur human rights group has threatened to take the Financial Conduct Authority to court if it permits Shein to list on the London Stock Exchange, stepping up its fight against the ultra-fast-fashion giant over slavery concerns.

  • February 03, 2025

    EPPO Probes Steel Tax Fraud In UK And Germany

    The European Public Prosecutor's Office is investigating suspected tax fraud linked to imports of Indian steel into Germany via the U.K. to dodge the European Union's import duties, the office said Monday.

  • February 03, 2025

    FCA Response To Critical Report 'Disappointing,' MPs Say

    The Financial Conduct Authority's response to a highly critical parliamentary report has been lackluster and continues to demonstrate that the regulator is "in dire need of transformation," the MPs who penned the report said Monday.

  • February 03, 2025

    EU Watchdog Warns That All Crypto Firms Are High Risk

    The European Union's finance watchdog has briefed national regulators authorizing crypto-assets firms to consider every candidate high risk, particularly from money laundering.

  • February 03, 2025

    Ex-Goldman Analyst Told To Pay £586K For Insider Trading

    The Financial Conduct Authority said Monday that it has secured £586,000 ($722,000) from a former Goldman Sachs employee imprisoned for insider dealing after using price-sensitive information to trade in shares.

  • January 31, 2025

    Brexit Five Years On: The Legal Landscape After Europe

    Five years after the U.K. formally left the European Union, Law360 looks at how Brexit has changed the legal, regulatory and financial terrain.

  • January 31, 2025

    UK Cos. See Brexit's Legacy In Steeper Compliance Costs

    British companies doing business in the European Union have seen their tax compliance burden rise as the U.K.'s tax rules have moved further away from EU rules in the five years since Brexit, though the largest companies have been able to absorb the costs.

  • January 31, 2025

    Ex-IP Co. Director Says Lawyer, Founders Hid $40M Takeover

    A former director of a celebrity intellectual property licensing company has claimed in court filings that two fellow directors, aided by an ex-Russells Solicitors partner, concealed plans for a $40 million takeover to try to convince him to sell his shares on the cheap.

  • January 31, 2025

    Valorem Sues Former CEO For Violating Russia Sanctions

    A luxury perfume group has sued its former chief executive officer, who is accused of bragging to a private investigator about selling his product to Russia in breach of sanctions, for fiduciary and contractual breaches and failure to protect its intellectual property rights.

  • January 31, 2025

    Ex-BigLaw Atty Can't Escape OneCoin Conviction At 2nd Circ.

    The Second Circuit on Friday upheld a former Locke Lord LLP partner's conviction and 10-year sentence for helping launder roughly $400 million in proceeds from the multibillion-dollar OneCoin cryptocurrency scheme, rejecting the attorney's contention that a sole cooperating government witness' perjury and other purported errors warranted reversing his punishment.

  • January 31, 2025

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

    This past week in London has seen another claim by Woodford investors against Hargreaves Lansdown in the widening £200 million ($248 million) dispute over the fund's collapse, a solicitor barred for his role in a suspected advance fee fraud face action by a Swiss wholesaler, and The Resort Group, which markets investments in luxury hotel resorts, hit with a claim by a group of investors. Here, Law360 looks at these and other new claims in the U.K.

  • January 31, 2025

    Cleaners Punished For Union Membership Win £101K

    DOC Cleaning must pay £101,479 ($126,010) for mistreating and belittling six staff members in order to dissuade them from participating in union activities, an employment tribunal has ruled.

  • January 31, 2025

    SFO Gets Nod To Bring DPA Enforcement Case Against Guralp

    A judge ruled Friday that the Serious Fraud Office could proceed with efforts to hold a seismic technology company liable for breaching its corporate bribery settlement, in its first-ever attempt to enforce the terms of a suspended prosecution agreement.

  • January 31, 2025

    Claims Management Sector Warned Over Misleading Adverts

    The Financial Conduct Authority has written to claims management companies warning that it will respond to multiple cases of misleading advertising with new consumer protection measures.

Expert Analysis

  • Taking Stock Of The Latest Criminal Court Case Statistics

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    The latest quarterly statistics on the type and volume of cases processed through the criminal court illustrate the severity of the case backlog, highlighting the need for urgent and effective investment in the system, say Ernest Aduwa and Jessica Sarwat at Stokoe Partnership.

  • ICO Data Protection Guidance Offers Clarity On Fining Powers

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    New guidance from the Information Commissioners' Office is designed to offer transparency about its fining powers, and, combined with the office's wide-ranging enforcement authority, clearly intends to ensure breaching companies concentrate on the external harm they cause and not only internal changes, say Robert Allen and Amelia Handoll-Clark at Simmons & Simmons.

  • Hugh Grant Case Raises Questions About Part 36 Offers

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    Actor Hugh Grant's recent decision to settle his privacy suit by accepting a so-called Part 36 offer from News Group — to avoid paying a larger sum in legal costs by proceeding to trial — illustrates how this legal mechanism can be used by parties to force settlements, raising questions about its tactical use and fairness, says Colin Campbell at Kain Knight.

  • Investment Security Act Fine-Tune May Help Businesses

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    Although the government’s recent response to feedback on the National Security and Investment Act regime makes it clear that its approach is one of fine-tuning and substantial reforms will have to wait, there is still room to ease the burden on businesses by issuing guidance and refining the terms of mandatory area definitions, say lawyers at Linklaters.

  • How New FCA Rules Strengthen Borrower Protections

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    The Financial Conduct Authority’s recently published final rules, aimed at strengthening protections for borrowers in financial difficulty by regularizing good practices across the industry, put its previous guidance on a permanent footing and send a clear message to firms that this issue remains a regulatory priority, say James Black, Julie Patient and Mark Aengenheister at Hogan Lovells.

  • How Cos. Can Prepare For EU's Forced Labor Regulation

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    Before a new European Union regulation takes effect banning products made with forced labor from the internal market, economic operators will need to get their supply chain compliance functions ready, familiarizing themselves with international standards and case law, say Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring.

  • Opinion

    New Property Category Not Needed To Regulate Digital Assets

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    The U.K. Law Commission's exploration of whether to create a third category of property for digital assets is derived from a misreading of historical case law, and would not be helpful in resolving any questions surrounding digital assets, says Duncan Sheehan at the University of Leeds.

  • FTSE Draft Rules Show Impact Of FCA Listing Reforms

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    FTSE Russell’s recently published provisional rule changes represent a much-awaited indication of its response to the U.K. Financial Conduct Authority’s proposed listing reforms, providing a level of certainty that will assist issuers and advisers in preparing for the implementation of the regime, say lawyers at Davis Polk.

  • FCA Strikes A Balance With 'Finfluencer' Guidance

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    With financial firms leveraging social media to engage with a broader audience, the Financial Conduct Authority’s recent "finfluencer" guidance signals a recognition of the imperative to adapt regulatory frameworks while maintaining a firm commitment to consumer protection, say David Allinson and Damien O'Malley at RPC.

  • Pharma Remains A Key Focus Of EU Antitrust Enforcement

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    The recently published European Commission report on pharmaceutical sector competition law illustrates that effective enforcement of EU rules remains a matter of high priority for EU and national authorities, say lawyers at Dechert.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What UK Energy Charter Treaty Exit Would Mean For Investors

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    While the U.K.'s recent announcement that it intends to withdraw from the Energy Charter Treaty is a bold political signal, investor protections will remain in place for a significant period of time, ensuring that an element of certainty and business continuity will remain, say Karel Daele and Jessica Thomas at Taylor Wessing.

  • Assessing The FCA Data Study's Response To User Concerns

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    The Financial Conduct Authority’s recently published report on the supply of wholesale financial data differs from others in its exceptional breadth and analysis of an enormous volume of information, but in its reluctance to address market power or pricing directly, the regulator’s approach is still cautious, say Emma Radcliffe and Greg Dowell at Macfarlanes.

  • Uber Payout Offers Employer Lessons On Mitigating Bias

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    Uber Eats' recent payout to a driver over allegations that the company's facial recognition software was discriminatory sheds light on bias in AI, and offers guidance for employers on how to avoid harming employees through the use of such technology, says Rachel Rigg at Fieldfisher.

  • Apple Ruling Offers Morsel Of Certainty On Litigation Funding

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    An English court's recent decision in Gutmann v. Apple, finding that a litigation funder could be paid via a damages award, offers a piece of guidance on the permissibility of such agreement terms amid the ongoing uncertainty around funded group litigation in the U.K., says Mohsin Patel at Factor Risk Management.

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