Corporate Crime & Compliance UK

  • March 25, 2025

    Santander Defeats Claim Over £415K Paid To Scammers

    Santander UK PLC defeated a fraud victim's claim over the bank allowing more than £415,000 ($538,000) to be transferred away to scammers, after a London court ruled Tuesday that the allegation had no realistic prospect of succeeding.

  • March 25, 2025

    Briton Bids To Overturn 'Unlawful' Bribery Extradition Request

    A Briton wanted in South Africa over an alleged £36 million ($46 million) government bribery scandal argued in a London court Tuesday that the extradition should be overturned, as the original request is unlawful.

  • March 25, 2025

    Traders Fight To Overturn 'Unsafe' Rate-Rigging Convictions

    Two traders urged Britain's highest court on Tuesday to overturn their convictions for rate-rigging, arguing that it was not automatically dishonest of them to take into account their "trading advantage" when they made interest rate submissions.

  • March 25, 2025

    Ex-Private Equity Exec Denies Data Theft, Alleges Misconduct

    A former manager at private equity firm Appian Capital Advisory LLP has denied stealing the company's data and poaching staff and clients, telling a London court the business sued him after pushing him out because he voiced concerns about his boss's misconduct.

  • March 25, 2025

    StanChart Loses Bid To Ax £762M From Iran Sanctions Claim

    Standard Chartered on Tuesday lost its bid to strike out claims from passive investors worth £762 million ($987 million) as part of litigation against the bank for allegedly making untrue or misleading statements about its noncompliance with sanctions.

  • March 25, 2025

    FCA Boss Presses Pro-Reform MPs For Clarity On Risk

    The chief executive of the Financial Conduct Authority called Tuesday on MPs pressing for regulatory reform for clarification of how much risk is acceptable in the pursuit of growth as he warned of a potential rise in money laundering and property defaults.

  • March 25, 2025

    PwC Fined £2.9M For Audit Of Steel Mogul's Wyelands Bank

    The Financial Reporting Council said on Tuesday that it has fined accounting giant PwC almost £2.9 million ($3.75 million) for a string of "serious failings" during its audit of steel mogul Sanjeev Gupta's Wyelands Bank PLC.

  • March 24, 2025

    Caribbean Bank, CEO Accused Of Helping In £415M VAT Fraud

    A Caribbean bank and its former CEO "knowingly" assisted in the commission of a £415 million ($536 million) value-added tax fraud, the creditors of a company allegedly linked to the scam said on the first day of a London trial Monday.

  • March 24, 2025

    Hayes Appeal Set To Test Theory Of Rate-Rigging Convictions

    Two former City traders will appeal against their convictions for rigging interest rates before Britain's top court on Tuesday in a case that could have implications for the premise that underpins the rate-rigging prosecutions of dozens of others in the wake of the 2008 financial crisis.

  • March 24, 2025

    UK Gov't Considers DST Changes To Prevent US Tariffs

    The Labour government may be considering changes to the digital services tax as part of talks with the U.S. administration to prevent tariffs being imposed on Britain, Chancellor of the Exchequer Rachel Reeves suggested in a TV interview.

  • March 24, 2025

    Oligarch's Charity Seeks Barclays Docs In $50M Transfer Fight

    A charity set up by a sanctioned Russian oligarch asked a London court on Monday to order Barclays to disclose documents as part of its case that the bank caused it "significant" losses by delaying a $50 million transfer.

  • March 24, 2025

    Mastercard Seeks To Limit Swipe Fee Damages Bill

    Mastercard urged a tribunal on Monday to limit the damages it must pay to intermediaries such as Worldpay over unlawful interchange fees, arguing that the acquirers' proposed damages bill is too broad and covers too long a period of time.

  • March 24, 2025

    Drax Settles Whistleblower Case Amid Toxic Work Claims

    Drax reached a settlement with its former public affairs manager on Monday over allegations that bosses sacked her amid a "toxic" working environment after she blew the whistle on concerns about alleged sustainability failings by the energy company.

  • March 21, 2025

    DOJ Ends Glencore Monitorships Under Bribery Deal Early

    The U.S. Department of Justice has ended early two monitorships imposed as part of mining giant Glencore's 2022 bribery and market manipulation case settlement, in the wake of President Donald Trump's directive pausing enforcement of the Foreign Corrupt Practices Act.

  • March 21, 2025

    Sheridans Denies Negligence In $11M PPE Commission Row

    London law firm Sheridans has denied claims that it gave negligent advice to a personal protective equipment selling agent facing allegations that it unlawfully made $11 million in secret commissions.

  • March 21, 2025

    Informal Money Transfers Launder £2B Annually, HMRC Warns

    Criminals in the U.K. are laundering an estimated £2 billion (£2.6 billion) every year via informal money transfer services, HM Revenue and Customs has warned.

  • March 21, 2025

    Spanish Lottery Co. Accused Of Tax Insurance Market Breach

    Spain's competition authority said Friday it is investigating a lottery company on suspicion of suppressing the marketing of tax insurance coverage for lottery winners.

  • March 21, 2025

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

    This past week in London has seen a sub-postmaster sue the Post Office and Fujitsu, Russian insurer Ingosstrakh hit the Financial Times with a defamation claim, and Britvic-owned Robinsons Soft Drinks file a passing off claim against Aldi. Here, Law360 looks at these and other new claims in the U.K.

  • March 21, 2025

    IT Manager Claims FCA Fired Him For Blowing Whistle On FOI

    A former IT manager told a tribunal on Friday that the financial watchdog fired him unfairly for sending emails to his personal account, saying he did this to blow the whistle on the "unlawful administration" of FOI requests at the regulator.

  • March 21, 2025

    UK Sanctions Update Shows £25B In Frozen Russian Assets

    Britain has frozen more than £25 billion ($32 billion) of Russian assets since the country invaded Ukraine in February 2022, the government said in an update on Friday as it released the latest figures from the Office of Financial Sanctions Implementation.

  • March 21, 2025

    Property Boss' Brother Faces Prison In Fraud Recovery Case

    A London court has ruled that the brother of a property tycoon who funneled £13 million ($16 million) out of his family business will face a year in prison if he continues to withhold information about the family's assets to frustrate attempts to recover the money.

  • March 21, 2025

    Sports Broadcasters Fined £4M Over Freelancer Pay Collusion

    Four of the U.K.'s biggest sports production and broadcasting companies were fined more than £4 million ($5.2 million) for colluding on pay rates for freelance workers, the Competition and Markets Authority said Friday.

  • March 20, 2025

    Scottish Police Clear Nicola Sturgeon In SNP Finance Probe

    Former Scottish First Minister Nicola Sturgeon has been cleared of any wrongdoing after Scottish police announced Thursday that it was no longer investigating her over the finances of the ruling Scottish National Party.

  • March 20, 2025

    Disclosure Review Calls For AI To 'Fight Fire With Fire'

    Judges, investigators, defendants and lawyers must embrace advanced technology and "fight fire with fire" to ease the pressure digital evidence places on prosecutors to make disclosures in serious economic crime cases, a government-backed review concluded Thursday.

  • March 20, 2025

    Gallagher Hits Back At Former CEO's £1.5M Claim For Losses

    Arthur J. Gallagher & Co.'s benefits and consulting arm denies that it owes a former chief executive of a company it acquired £1.55 million ($2 million) on his claim that it failed to manage the business correctly, as legal wrangling over the acquisition continues.

Expert Analysis

  • What To Know About Compliance As EU AI Act Takes Effect

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    Raj Shah at Mishcon de Reya explains how recently effective provisions of the European Union Artificial Intelligence Act, which concern prohibited AI practices and AI literacy, will affect both providers and users of AI systems, and suggests steps that companies can take now to plug any compliance gaps.

  • Banker Remuneration Proposals Could Affect More Than Pay

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    The Financial Conduct Authority and Prudential Regulation Authority’s pending proposals to reduce banker remuneration restrictions bring obvious personal financial advantages for bankers, but may have repercussions that result in increased scrutiny of bonus payments and wider changes to workplace culture and overall accountability, say lawyers at Fox Williams.

  • Rethinking 'No Comment' For Clients Facing Public Crises

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    “No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.

  • EU Report May Influence Regulation Of Decentralized Finance

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    The European supervisory authorities’ recent report on decentralized finance highlights the major regulatory challenges and increased cybersecurity risks of this ecosystem, and will likely provide useful guidance on how the market could be regulated to limit potential risks for investors, say Hubert de Vauplane and Hugo Bordet at Morgan Lewis.

  • EU Paper Urges Data Protection And Competition Law Unity

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    A recent European Data Protection Board position paper calls for closer cooperation among data protection and competition authorities, and provides valuable insight for businesses seeking to ensure compliance across an increasingly complex regulatory landscape, say lawyers at Paul Weiss.

  • Market Infrastructure Regs Aim To Reinvigorate EU Trading

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    The recently amended European Market Infrastructure Regulation, imposing a requirement on certain financial and nonfinancial institutions to maintain an active EU counterparty account, hopes to incentivize the central clearing of trades, although there are concerns that higher compliance costs will lead to a decrease in competitiveness, say lawyers at McDermott.

  • The Pros And Cons Of A 2nd Trump Term For UK Tech Sector

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    While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.

  • Why EU Omnibus Package Is Receiving Mixed Reactions

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    Although the forthcoming European Union omnibus simplification package consolidating corporate sustainability reporting requirements aims to reduce the regulatory burden on businesses, reaction to the proposals has been mixed, and reassurance is needed that these measures will not result in a watering down of the legislation, say lawyers at Peters & Peters.

  • Review Of Computer Evidence Use Raises Complex Issues

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    The Ministry of Justice’s recent call for a review of computer-generated evidence used in criminal proceedings, solicits questions of how such evidence will be defined while also ensuring that changes can withstand technological advances and uphold the effective functioning of the criminal justice system, say lawyers at BCL Solicitors.

  • How Proposed Private Share Trading System May Benefit Cos.

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    The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.

  • New Bill Introduces Important Whistleblower Protections

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    If enacted, a bill that proposes the establishment of an independent whistleblower office in the U.K. offering protected disclosures will encourage individual whistleblowers, and alleviate the pressure for companies to investigate complaints, say lawyers at Tenet Law.

  • Important Changes To Note In Accountant Ethics Code Update

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    The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.

  • What EU Sustainable Category Proposals Will Mean For Funds

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    The European Union Platform on Sustainable Finance’s recent proposals to apply stricter product categorization standards for funds subject to the Sustainable Finance Disclosure Regulation will assist retail investors in selecting sustainable products, and allow advisers to easily match their clients’ preferences, say lawyers at Debevoise.

  • What To Expect As CAT Considers Mastercard Settlement

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    It is expected that the Competition Appeal Tribunal will closely scrutinize the proposed collective settlement in Merricks v. Mastercard, including the role of the case’s litigation funder, as the CAT's past approach to such cases shows it does not treat the process as a rubber stamp exercise, say lawyers at BCLP.

  • Managing Transatlantic Antitrust Investigations And Litigation

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    As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.

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