Corporate Crime & Compliance UK

Individual cryptocurrency coins on view on a black surface.

How Mishcon Helped Uncover £5.6B Money Laundering Plot

Law360 examines here how a suspicious activity report raised by Mishcon de Reya about a client's attempted transactions served as the catalyst for one of the biggest cryptocurrency seizures in British history.

Close-up of hands searching through files in a cabinet.

Carter-Ruck Test Case Could Redefine SRA's Privilege Rights

The Solicitors Regulation Authority is facing an unprecedented court challenge from Carter-Ruck to its power to force law firms to hand over privileged documents, a case that could embolden clients to refuse consent far more frequently and force legislative reform.

FCA Oversight Spells Tougher AML Scrutiny For Law Firms

The Financial Conduct Authority's new powers to police lawyers and other professionals could place law firms under a heightened supervisory regime similar to that of banks and other high-risk financial institutions, experts say.

'Name And Shame' Test Case Ruling Could Embolden FCA

Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.

November 17, 2025
SAP Proposes Fixes Amid EU Antitrust Probe

German software giant SAP has offered a set of commitments to European enforcers who raised concerns over maintenance and support services for the company's business management software.
November 17, 2025
Solicitor Faces Tribunal Over Allegations Of Misleading Client

A criminal defense solicitor fought allegations in a London disciplinary tribunal Monday that he had instructed a client to falsely deny allegations of corruption and to fabricate a narrative for their high-profile trial.
November 17, 2025
TotalEnergies, Partners Fined €187M For Fuel Depot Collusion

A French competition regulator revealed Monday that it has imposed fines totaling almost €187.5 million ($217.4 million) against the owners of Corsican oil depots, including fuel giant TotalEnergies, for colluding to reserve the use of the only two fuel stores on the Mediterranean island for themselves.
November 17, 2025
Trafigura Accuses Gupta Of $600M Sham Nickel Trade At Trial

Trading company Trafigura told the High Court on Monday that Prateek Gupta and his companies defrauded it out of $600 million in a sham nickel trade, opening a long-awaited trial over Trafigura's purchase of purported nickel shipments that turned out to be "worthless."
November 17, 2025
Fugitive Can't Appeal Extradition For 5-Year Fraud Sentence

A fugitive sentenced to more than five years in prison for fraud can't appeal his extradition to Italy, as a court ruled Monday that the decision correctly weighed up the public interest in him serving time against the difficulties his family would face.
November 17, 2025
Fraudulent Insurance Claims Continue To Top £1B A Year

Fraudulent claims in the U.K. general insurance sector rose again in 2024, with those linked to motor cover driving much of the increase, the Association of British Insurers warned on Monday.
November 17, 2025
Hacker Ordered To Forfeit £4M In Crypto After Twitter Heist

A London court has ordered an aspiring web developer to pay back £4.1 million ($5.4 million) worth of cryptocurrency after he was convicted of hacking high-profile Twitter accounts and money laundering in the U.S.
November 14, 2025
Italian Police Seize Assets In €260M VAT Fraud Probe

Italian financial police seized corporate assets Friday as part of an investigation into a criminal ring suspected of evading €260 million ($302 million) in value-added taxes on fuel, European Union authorities said.
November 14, 2025
Trafigura's $600M Fraud Trial To Test Metals-Trading Practices

Metals magnate Prateek Gupta will face trial in London on Nov. 17 over allegations that he and his companies perpetrated "systematic fraud" against Trafigura, with the trading company alleging that Gupta cheated it out of $600 million in a nickel fraud scheme.
November 14, 2025
Billionaire Used Spy To Extract Privileged Info From Solicitor

Mexican billionaire Ricardo Salinas Pliego used a private intelligence agent to dupe a law firm partner into divulging privileged and confidential information about a man Salinas claims defrauded him out of more than $415 million, a London court has found.
November 14, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Freeths face a professional negligence claim from a Scottish car dealership, Rolls-Royce sue logistics giant Kuehne + Nagel, and a team of Oberon Investments Group investment managers sued by their former employer.
November 14, 2025
VietJet Avoids Criminal Contempt Claim In Aircraft Dispute

A subsidiary of an international private investment company cannot pursue a Vietnamese budget airline for contempt of court, after the Court of Appeal held Friday the airline cannot be criminally liable for conduct not prohibited by an injunction protecting the company's aircraft.
November 14, 2025
EU Court Upholds Sanctions On Relative Of Syria's Assad

A second cousin of former Syrian president Bashar al-Assad has lost a bid to lift sanctions against him as the European Union's top court rejected his argument that the bloc's decision to sanction him on the grounds of his family connection was unfair.
November 14, 2025
EU To Boost Cooperation Among Enforcers To Fight Tax Fraud

The European Union pledged on Friday to bolster its fight against massive tax fraud that costs approximately €89 billion ($103 billion) across the bloc each year by rolling out a plan to deepen cross-border cooperation.
November 14, 2025
Denmark Has Until Dec. 12 To Appeal £1.4B Cum-Ex Defeat

Denmark has 28 days to try to revive its £1.4 billion ($1.8 billion) case over a tax fraud allegedly orchestrated by convicted hedge fund trader Sanjay Shah, a judge said Friday as he gave full reasons for refusing permission to appeal.
November 14, 2025
BHP Found Liable In £36B Brazil Dam Collapse Case

BHP can be held liable in a £36 billion ($47 million) claim for the collapse of a dam in Brazil that triggered the country's worst environmental crisis, a High Court judge ruled Friday, handing a major win to lawyers representing more than 640,000 individuals.
November 13, 2025
Trump To Pardon UK Billionaire Lewis For Insider Trading

President Donald Trump has agreed to pardon 88-year-old British billionaire Joseph Lewis, who was sentenced to three years of probation for feeding nonpublic stock tips to his girlfriend and private-jet pilots.
November 13, 2025
Fed Frees SocGen, ICBC From 2018 Enforcement Orders

The Federal Reserve said Thursday it has lifted a pair of 2018 consent orders against Société Générale SA and Industrial and Commercial Bank of China, ending long-running enforcement actions tied to alleged sanctions violations at the former and alleged anti-money-laundering deficiencies at the latter.
November 13, 2025
Businessman Too Late To Challenge £5M Tax Evasion Penalty

A businessman's attempt to challenge a civil value-added tax evasion penalty of almost £5 million ($6.6 million) was refused because it was launched in breach of the time limit for appeals, a London tribunal ruled.
November 13, 2025
Red Bull Faces EU Probe Over Market Abuse Allegations

The European Commission said Thursday that it had opened an antitrust probe into Red Bull GmbH, saying the energy drink giant may have abused its dominance over the market by trying to stop competing drinks from being sold at retailers.
November 13, 2025
VTB Says OFSI Destroyed Its £188M UK Unit Recovery

Russia's VTB Bank argued at a London court Thursday that the U.K.'s sanctions authority had wrongly attempted to block it from recovering anything from the administration of its British subsidiary, arguing that it should have been given a chance to make its case.
November 13, 2025
Shein Wins Stay On £5.8M Tax Fraud Case Pending Arbitration

Fashion retailer Shein won a bid on Thursday to stay a £5.8 million ($7.7 million) tax fraud case brought by a U.K. customs clearance company, ahead of arbitration proceedings in which Shein is fighting to recover £1.5 million.
November 13, 2025
Solicitor General Hails SFO's 'Innovative' First Wealth Order

The Solicitor General for England and Wales praised the Serious Fraud Office on Thursday for its first use of an unexplained wealth order to seize £1.1 million ($1.44 million), adding that the government plans to invest millions of pounds to expand the agency.
November 13, 2025
Ex-Reed Smith Lawyer Faces SDT Over Claims He Misled Firm

A former associate at Reed Smith LLP in the Middle East has been referred to a disciplinary tribunal after he allegedly submitted misleading information to the firm, the Solicitors Regulation Authority has said.
November 12, 2025
UK Banker Bonus Changes Could Boost Treasury Coffers

The U.K.'s relaxation of bonus rules for bankers may result in a tax windfall for HM Treasury along with what financial advisers expect to be a rise in the use of certain investment planning strategies, particularly those used to fund startups.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

Decoding Arbitral Disputes: UK Assignability Of ICSID Awards

The recent High Court decision in Operafund v. Spain clarifies the stance of English law on an important question to investors, funders and sovereigns, concluding that awards under the International Centre for Settlement of Investment Disputes Convention are not commodities that can be traded, says Josep Galvez at 4-5 Gray's Inn.
CMA Guide Clarifies Role Of Competition Law In Employment

The Competition and Markets Authority’s recent guide to applying U.K. competition law to employment market practices, with a focus on no-poach agreements, wage-fixing and exchange of sensitive information, provides welcome and timely guidance for employers trying to navigate this area, say lawyers at Lewis Silkin.
FCA Proposals Reduce Consumer Duty Compliance Burden

The Financial Conduct Authority’s recent proposals to streamline the consumer duty regime represent a pragmatic response to industry concerns, with a move toward sector-specific supervision and potentially narrowing its scope for wholesale and cross-border business, say lawyers at Simmons & Simmons.
How New Companies House ID Rules Affect Businesses

Lawyers at Shepherd & Wedderburn discuss the Economic Crime and Corporate Transparency Act’s new mandatory identity verification requirements for all company directors and persons with significant control, set to go live next week, which aim to curb fraud by improving the reliability of information held by Companies House.
Russia Sanctions Spotlight: Taking Russian Oil Off The Market

The recent sanctions targeting Russia's energy sector by the U.K., EU and U.S. aim to limit Russia’s ability to fund its war machine by the sale of fossil fuels, representing an important escalation that has the potential to affect a wide range of business activities, says Alexandra Melia at Steptoe.
Role Of UK Investment Act Is Evolving In M&A Deals

With merger and acquisition activity likely to increase in light of the government’s new defense industrial strategy, the role of the National Security and Investment Act will come into sharper focus, and its recent annual report confirms that scrutiny is intensifying, say lawyers at Kingsley Napley.
What To Know About EU's Reimposition Of Sanctions On Iran

Lawyers at Steptoe discuss the European Union’s recent reimposition of trade and financial sanctions against Iran, which will introduce legal and operational constraints that affect EU companies' commercial activities in the region.
Navigating Int'l Laws To Protect Children In The Digital World

The European Commission’s recent request to online platforms for information on their measures to protect minors using their services is part of an intensifying focus on safeguarding children, and with an ever-growing worldwide maze of regulations, digital businesses should conduct a holistic assessment to minimize risks, says Anna Morgan at Bird & Bird.
FCA Crypto Proposals Herald Tougher Oversight For Firms

The Financial Conduct Authority’s recent proposals to extend regulation to crypto-asset activities will bring parity, but implementation of the operational resilience requirements and enhanced financial crime controls will present compliance challenges, says Michelle Kirschner at Gibson Dunn.
EU Investment Reporting Rules Letup Signals Pragmatic Shift

While investment companies remain subject to far-reaching disclosure obligations under the Foreign Subsidies Regulation, new guidance from the European Commission on reporting passive limited partner commitments represents a drastic simplification and burden reduction, say lawyers at Paul Weiss.
SFO's 2-Year Transformation Signals Crackdown On Fraud

Two years after Nick Ephgrave’s appointment as director of the Serious Fraud Office, the introduction of new corporate criminal offenses and strengthened investigative methods sends a clear message to corporations that the agency is delivering on its promise to be bolder and more proactive about tackling fraud, say lawyers at BCL Solicitors.
How EU And UK Consumer Loan Protections Are Shifting

As market evolution and digitalization motivate both the European Union and the U.K. to revamp consumer protections around lending, the potential for divergence between these rules will pose new challenges for cross-border consumer credit lenders, say lawyers at Skadden.
EBA Guidance Shakes Up EU Securitization Market Practices

Although the European Banking Authority’s recent questioning of the common use of conditional sale agreements to season assets when setting up securitizations has come as an unwelcome surprise, competent regulators are expected to follow the EBA guidance, even though as a Q&A response it is not legally binding, say lawyers at Debevoise.
EU Act Establishes Data Sharing Rules, But Hurdles Remain

The recently effective European Union Data Act provisions establish harmonized rules to unlock the use of data generated by technology-embedded software, but leave practical challenges that organizations will need to navigate to comply with cross-border requirements, say lawyers at King & Spalding.
Decoding Arbitral Disputes: Arbitrator's Conviction Upheld

The Supreme Court of Spain recently upheld the criminal conviction of arbitrator Gonzalo Stampa for grave disobedience to judicial authority, rejecting the proposition that an arbitrator's independence can prevail over a court order retroactively disabling the very judicial act conferring arbitral jurisdiction, says Josep Galvez at 4-5 Gray's Inn.