Try our Advanced Search for more refined results
Corporate Crime & Compliance UK
-
August 02, 2024
Truck Buyers Get OK To Bring £2B Price Fixing Class Action
The Competition Appeal Tribunal has agreed to certify a trade group to represent a class of truck drivers who say that major truck-makers owe them some £2 billion ($2.6 billion) after running a price-fixing cartel to inflate the price of the vehicles.
-
August 02, 2024
Self-Styled 'Business Guru' Faces Investor's £5.6M Fraud Case
An investor has hit a self-styled business guru with a £5.6 million ($7.2 million) fraud claim, accusing the entrepreneur of running a Ponzi scheme and of duping him into funding a loan for a luxury hotel development that was never lent.
-
August 02, 2024
Property Investor Denies Hiding Info From Franchise Buyers
A real estate investment scheme's former owner has hit back at a £6.4 million ($8.1 million) counterclaim by the management consultancy that acquired it, saying in London court documents that he did not conceal any important information and that he had not breached any agreement.
-
August 02, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen insurance broker Marsh sue the collapsed Greensill Bank, the former chair of the Islamic Students Association of Britain pursue a defamation case against the Jewish Chronicle, Berkshire Hathaway and Lloyd's face action from a shipping company, and alleged fraudster Ronald Bauer hit a loan company with a claim. Here, Law360 looks at these and other new claims in the U.K.
-
August 02, 2024
Post Office Probe Reveals Ethical Conflict Facing Lawyers
In-house and external lawyers who gave evidence during the most recent phase of the Post Office inquiry, which concluded on Wednesday, revealed widespread poor conduct by barristers and solicitors that contributed to a major miscarriage of justice.
-
August 02, 2024
SFO Claws Back Funds From Convicted Property Developer
Britain's white-collar crime prosecutor said Friday it has seized £86,000 ($110,000) from a former commercial property developer who was convicted of fraud more than a decade ago after it discovered that he had acquired a luxury car.
-
August 02, 2024
FCA Charges Unauthorized Mortgage Broker With Fraud
An unauthorized mortgage broker has been charged with fraud for allegedly arranging mortgage applications based on false information, the Financial Conduct Authority said Friday.
-
August 01, 2024
Headteacher Loses Challenge To Sanction For Sharing Data
A London judge ruled Thursday that a headmaster was rightly accused of damaging public trust in the teaching profession by sharing confidential information about pupils with her husband.
-
August 01, 2024
DAF Can't Take Trucks Cartel Appeal To Top UK Court
The U.K. Supreme Court has refused to hear an appeal brought by DAF Trucks Ltd. against a ruling requiring it to shell out more than £15.2 million ($19.3 million) to BT and Royal Mail over a price-fixing scheme.
-
August 01, 2024
2023 Worst Year Yet For Cyberattacks On Law Firms: Study
Last year was the worst on record in terms of cyberattacks on law firms, according to an industry study published Thursday that found there were 45 known attacks, 1.6 million records affected and an average ransomware demand of $2.47 million in 2023.
-
August 01, 2024
Barclays Wins £13.7M Freezing Order Action Against Directors
Barclays Bank PLC has proven that two businessmen breached freezing orders on £13.7 million ($17.5 million) of assets, after a London court on Thursday ruled it was beyond reasonable doubt the men allowed the assets to move offshore.
-
August 01, 2024
15 Arrested In Albanian Ring Involving Money Laundering
A "prominent money launderer" was among 15 members of what was called a high-profile Albanian organized crime group arrested by authorities under suspicion of crimes including contract killings and money laundering using cryptocurrency transactions, Europol said Thursday.
-
August 01, 2024
NCA Pulls The Plug On Spoofing Service Behind Scam Calls
The National Crime Agency said Thursday that it has shut down a spoofing service used to defraud more than 100,000 victims out of tens of millions of pounds and arrested three people in connection with the ongoing investigation.
-
August 01, 2024
EU Watchdog Warns Of Risk From Global Crypto-Asset Firms
Europe's financial markets watchdog has warned national regulators to address the risk that global crypto groups may seek authorization in the European Union to obtain clients unlawfully and expose them to non-EU-regulated services.
-
August 01, 2024
Tragedy And A Hustle: 5 Takeaways From The 'Tuna Bonds' Ruling
A London judge took the opportunity as he delivered a ruling that Mozambique was defrauded in a controversial maritime project to raise questions about the role played by international banks and the lack of financial standards in the multibillion-dollar "tuna bonds" scandal.
-
August 01, 2024
Watchdog Names Banks Reimbursing Few APP frauds
The Payment Systems Regulator found Thursday that banking groups varied widely in how far they reimbursed victims of authorized push payment fraud, with AIB Group, Danske Bank and Monzo making the lowest payouts in its 2023 performance report.
-
August 01, 2024
Law Firm, Partners Fined Over Misuse Of Client Cash
A law firm and two of its name partners have been fined a total of £36,000 ($46,000) plus costs after a tribunal found that they had used client funds to provide banking services rather than legal services and failed to have any anti-money laundering protections in place.
-
August 01, 2024
SFO Charges Glencore's Billionaire Ex-Oil Boss With Bribery
The Serious Fraud Office charged the former chief executive of Glencore's oil business and four other ex-employees with bribery on Thursday over allegations they made corrupt payments to government officials to win contracts in West Africa.
-
July 31, 2024
HSBC Says HUD Has Closed Fair Lending Probe
HSBC's U.S. banking arm said it is no longer facing a multicity fair lending investigation from federal housing authorities after an outside complaint that prompted the probe was withdrawn.
-
July 31, 2024
Jusan, News Outlet End Libel Dispute Over Ex-Kazakh Leader
Jusan Technologies Ltd. has settled its defamation claim against the Bureau of Investigative Journalism stemming from online reports that the company was set up to hide assets belonging to a former president of Kazakhstan, the news organization said Thursday.
-
July 31, 2024
FCA Can't Avoid Paying Julius Baer Bankers' Legal Costs
Britain's financial watchdog lost its appeal to avoid paying part of the legal costs for two former employees of Swiss bank Julius Baer accused of acting recklessly and lacking integrity with specific foreign exchange transactions.
-
July 31, 2024
Indian Businessman Loses Extradition Over $32M Loan Fraud
An Indian businessman accused of defrauding 28.6 million Swiss francs ($32.5 million) from companies in an advance fee fraud scheme lost his chance to challenge the decision to extradite him from the U.K. on Wednesday after a London judge ruled that he could not mount a double jeopardy defense.
-
July 31, 2024
Care Home Company Fails To Trim Workers' Payouts
A London appeals judge on Wednesday refused to let a care home company reduce the amount of money it must pay out to workers fired for protected disclosures about their pay, saying that the lower tribunal had been right that it was not "just and equitable" to do so.
-
July 31, 2024
Retired Couple Can't Duck Ex-Solicitor's Forex Deceit Win
A London appellate court ruled Wednesday that a financial advisor and his wife cannot escape liability to compensate a former lawyer over £500,000 ($642,135), after the appellate judge found they were partners in a now-defunct foreign exchange trading scheme.
-
July 31, 2024
Amazon, Eversheds Lawyers Can't Shake Whistleblower Claim
Amazon's senior employment lawyer and two Eversheds Sutherland solicitors have failed to block an unfair dismissal claim brought by an ex-employee of the tech giant's cloud business, after a London tribunal found it was too early to rule on their responsibility for his leaving.
Expert Analysis
-
Experian Ruling Helps Cos. Navigate GDPR Transparency
In Information Commissioner v. Experian, the Upper Tribunal recently reaffirmed the lawfulness of the company's marketing practices, providing guidance that will assist organizations in complying with the GDPR’s transparency obligations, say lawyers at Jenner & Block.
-
Clarity Is Central Theme In FCA's Greenwashing Guidance
Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.
-
What The EU Sustainability Directive Will Mean For Companies
The European Parliament’s recent approval of the landmark Corporate Sustainability Due Diligence Directive provides welcome clarity for small and midsize enterprises regarding human rights and environmental due diligence expectations, forming part of a growing pressure on companies around the world to operate ethically and sustainably, say lawyers at Jenner & Block.
-
What Can Be Learned From CMA's Green Claims Investigation
The Competition and Markets Authority's recent investigation into retailers' allegedly misleading environmental claims demonstrates that all consumer-facing businesses must exercise caution and ensure their green credentials are genuine, say Charlotte Kong and Stephen Sidkin at Fox Williams.
-
The Art Of Corporate Apologies: Crafting An Effective Strategy
Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
-
AI Tools Could Enhance UK Gov't Public Services Strategy
The government’s recently announced intention to pilot artificial intelligence tools in routine policy work is part of a wider strategy to revolutionize the delivery of public services, and could improve productivity and create efficiencies, provided it is mindful of the potential risks involved, say attorneys at Akin.
-
Taking Stock Of The Latest Criminal Court Case Statistics
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
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
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
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
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
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
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
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
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.