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Corporate Crime & Compliance UK
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July 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the owner of a £6 million ($8 million) mansion once rented by Adele sue real estate consultants Strutt & Parker, Romanian-Australian mining investor Vasile Frank Timis bring a claim against reputation and privacy firm Schillings, and a Chinese businessman bring a legal action against his former lawyer over an alleged £12.5 million mortgage fraud.
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July 25, 2025
FCA Fines Former H2O Exec £1M And Bars Him From Industry
The U.K.'s financial watchdog said Friday that it has banned a former senior executive of asset manager H2O from the financial industry and fined him £1.05 million ($1.41 million) for misleading the regulator about risky investments linked to financier Lars Windhorst.
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July 25, 2025
Car Makers Must Reveal Internal Docs In Dieselgate Trial
Motorists and campaigners won their bid Friday to force car manufacturers to disclose documents and pleadings in the upcoming Dieselgate trial, with the High Court ruling that the public interest in understanding the emissions case outweighs any commercial sensitivity.
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July 25, 2025
Bahraini Bank Worker Loses Whistleblowing Case Over Delay
A short-lived employee of a Bahraini bank has lost his bid to sue his former employer, as a London tribunal ruled he waited too long to bring his claim he was fired for whistleblowing.
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July 25, 2025
Odey's Libel Claim And Sex Assault Case To Have Joint Trial
Hedge fund manager Crispin Odey's £79 million ($106.2 million) libel claim against the Financial Times will be tried jointly with claims by five women accusing him of sexual abuse, a London judge ruled Friday.
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July 25, 2025
AXA Wins £675M Missold PPI Payout Fight With Santander
AXA has won a £675 million ($907 million) battle with Santander to recover payouts for wrongly sold payment protection insurance as a London court ruled that the Spanish banking giant was liable for "systemic failings" in historical sales of the policy.
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July 25, 2025
MoD Official Named As New Companies House CEO
Senior Ministry of Defence official Andy King has been appointed as chief executive of Britain's official business registrar as it seeks to toughen its stance on financial crime.
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July 24, 2025
SportPesa Chair Claims Stake Dilution Was Deliberate Fraud
The former chair of online betting company SportPesa was the victim of an unlawful scheme to dilute his valuable stake in the company, his lawyer said in closing submissions at a London trial on Thursday.
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July 24, 2025
Traders' Win Casts Doubt On Plans For No-Jury Fraud Trials
Repeated failure by the courts to ensure that two former traders imprisoned for rigging benchmark interest rates were given a fair trial has fueled criticism of radical reforms to roll back jury trials in complex fraud cases to ease pressure on the judicial system.
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July 24, 2025
Four Traders Plan Appeals After Justices Quash Convictions
Four City traders convicted of manipulating benchmark interest rates plan to file new challenges against their verdicts after the U.K. Supreme Court ruled that two former bankers in similar cases failed to receive a fair trial.
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July 24, 2025
Fintech Execs Deny Misleading Bank In £4M Fraud Claim
Defunct fintech startup BrickVest Ltd. and its co-founders have denied allegations brought by a German specialist property lender in a £4.2 million ($5.7 million) London claim that they hid additional investment in the business before its collapse.
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July 24, 2025
Amazon To Face £4B Dual Class Actions In UK
The U.K.'s competition court gave the green light on Thursday to two class actions against Amazon, totaling £4 billion ($5.4 billion), alleging that the e-commerce giant abused its dominant market position to the detriment of retailers and consumers.
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July 24, 2025
German Court Convicts 4th In €195M VAT Fraud Scheme
A fourth person has been convicted in connection with a €195 million ($229.3 million) value-added tax fraud scheme, this time in a German regional court, the European Public Prosecutor's Office said.
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July 24, 2025
Audit Watchdog Imposed £14.5M In Fines Last Year
Britain's audit watchdog said Thursday it levied £14.5 million ($19.6 million) in fines across a 12-month period ending in March that also saw it wrap the majority of its investigations in a more timely way than ever before.
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July 24, 2025
NCA Seizes £17M Tied To Suspected Illegal China Trades
The National Crime Agency revealed Thursday that a Chinese national has agreed to forfeit money and seven London properties worth £16.7 million ($22.6 million) which the agency suspects are the proceeds of criminal securities trading in China.
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July 24, 2025
Taylor Vinters Fined For AML Breach Before Mishcon Deal
The solicitors' watchdog said Thursday that it has fined Taylor Vinters LLP £172,900 ($234,100) for anti-money laundering violations that predate its 2023 merger with Mishcon de Reya LLP.
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July 24, 2025
SFO Charges 6 With Fraud Over £75M Pension Investments
The Serious Fraud Office charged six individuals with fraud and money laundering on Thursday over alleged misrepresentations made to investors who poured £75 million ($101 million) from their pensions into self-storage units.
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July 23, 2025
UK Eyes Google, Apple Mandates For App Ranking, Payments
United Kingdom antitrust authorities on Wednesday formally proposed singling out Apple's and Google's mobile platforms for extra regulatory attention and specific mandates, proposing road maps for the Play Store and App Store that could try to stop the companies from boosting their own apps and commission-based payment systems.
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July 23, 2025
2nd Circ. Orders Review Of Sealed Epstein Case Docs
The Second Circuit on Wednesday vacated rulings denying requests to unseal materials in a defamation case tied to deceased financier and accused sex trafficker Jeffrey Epstein, ordering a New York district court to review certain filings after determining they're considered judicial documents and presumed to be public.
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July 23, 2025
PE Firm Says Ex-All Saints Chair In Contempt Over Share Sale
An arm of private equity firm Lion Capital urged a London judge on Wednesday to find the former chairman of All Saints had breached a court order by challenging a deal to sell his shares in the high street fashion chain.
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July 23, 2025
Hayes' Victory Leaves SFO Rate Rigging Convictions In Doubt
The decision by the U.K. Supreme Court to quash the convictions of two former traders accused of manipulating interest rates has opened the door for other bankers to challenge the fairness of their trials, lawyers say.
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July 23, 2025
Student Jailed For Selling Phishing Kits Used In £100M Fraud
A university student who sold more than a thousand phishing kits which were used to commit fraud worth at least £100 million ($135 million) globally has been jailed for seven years, the Crown Prosecution Service said Wednesday.
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July 23, 2025
Deloitte Faces UK Probe Over Glencore Audits
Britain's accounting watchdog said Wednesday that it had started an enforcement investigation into accounting firm Deloitte over audits into Glencore over an eight-year period that partially overlaps with the years the commodities and mining group ran a global bribery scheme.
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July 23, 2025
Credit Suisse Gets Forex Cartel Fine Slashed To €28M
The European Union's General Court reduced on Wednesday a fine imposed on Credit Suisse for its part in a foreign-exchange trading cartel by approximately €54.3 million ($64 million).
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July 23, 2025
ENRC Wins Appeal To Add $128M Damages In SFO Dispute
ENRC won its bid on Wednesday to add $128 million in damages to its claim against the Serious Fraud Office as the Court of Appeal ruled that the mining company is entitled to ask for compensation for money lost to higher borrowing costs arising from the agency's investigation.
Expert Analysis
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Anticipating A Shift In CMA Merger Control Enforcement
As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.
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Court Backing Of FCA Pensions Ruling Sends Key Message
The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
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What To Note As UK Adopts OECD Crypto Disclosure Rules
With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.
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Why UK Sanctions Review Recommendations Lack Substance
The recent U.K. cross-government sanctions enforcement review makes welcome but unambitious recommendations, and without increasing funding for sanctions agencies or developing a whistleblower incentivization scheme, it is unlikely to result in tangible support for the sectors that most need it, say lawyers at WilmerHale.
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How UK Law Firms Can Counter Money Laundering Threat
With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.
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Key Takeaways As EU And UK Impose New Russia Sanctions
The European Union and U.K.’s new sanctions on Russia, designating increasing numbers of non-Russian companies in the defense and shipping sectors, mean that organizations must examine from the outset whether a transaction has any nexus with the EU or the U.K., say lawyers at Sullivan & Cromwell.
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8 Ways Law Firms Can Prepare For SRA's AML Offensive
The Solicitors Regulation Authority’s recent plans to intensify anti-money laundering enforcement means firms need to concentrate on strengthening client matter risk assessments, policies and procedures, source of funds checks and firmwide risk assessments, says Harriet Holmes at Thirdfort.
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How Unfair Practice Rules Boost Consumer Protections
With the consumer protection aspects of the Digital Markets, Competition and Consumers Act now in force, companies must not only ensure their business is not engaged in prohibited practices, but also consider how consumers make decisions to acquire goods and services, say lawyers at Linklaters.
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Fraud Office Guidance Highlights Value Of Self-Reporting
New guidance from the U.K.'s Serious Fraud Office on corporate self-reporting, cooperation and deferred prosecution agreements provides a useful framework for companies navigating criminal investigations and their potential resolutions — and underscores that corporations that self-report are in a better position to obtain DPAs than those that do not, say lawyers at Skadden.
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Answering Key Questions About 2 EU Cybersecurity Laws
As companies work to implement two nascent European Union cybersecurity measures, the Digital Operational Resilience Act and the second Network and Information Security Directive, lawyers at MoFo address nine conceptual questions emerging around their interpretation and compliance obligations.
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Industry Input Is Key As EU Weighs New Tariffs On US Trade
The European Commission’s ongoing consultation, which seeks feedback on a proposed expansion of products subject to tariffs and restrictions in retaliation to U.S. tariffs, opens an important opportunity for industry stakeholders to highlight why a scope exclusion is warranted, say lawyers at Crowell & Moring.
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What End of Payment Systems Regulator Means For Biz
The U.K. government’s plan to abolish the Payment Systems Regulator and absorb its functions into the Financial Conduct Authority should eventually lighten the compliance burden for businesses under the PSR’s remit, which may in turn encourage growth, but the proposed changes will roll out slowly, say lawyers at Farrer & Co.
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Compliance Lessons From Art Dealer's Terror Financing Plea
Regulated businesses can learn from the missteps of a recently convicted London art dealer, who failed to disclose sales to a suspected Hezbollah financier, by implementing compliance measures like anti-terrorism financing screenings as robust as their anti-money laundering policies and training staff to spot red flags, say lawyers at White & Case.
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UK Capital Reforms May Help Startup Founders, VC Investors
Hidden in the U.K. Financial Conduct Authority's recent proposals on the definition of capital for investment firms are changes to the eligibility requirements for instruments to be included in a firm's regulatory capital — changes that may reduce the risk of investing, especially in early-stage fintech firms, says Andrew Henderson at Goodwin.
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EU Watchdog's ESG Dashboard Raises Transparency Bar
The European Banking Authority’s recently introduced ESG dashboard is a key tool in aligning financial institutions with the European Union's sustainability policies, and fundamentally alters the risk environment by transitioning climate-related data from a compliance afterthought to a core component of strategic decision-making, says Kristýna Tupá at Schönherr.