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Corporate Crime & Compliance UK
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July 08, 2025
Oil Co. Says Nigeria Shouldn't Profit From £44M Legal Bill
An oil and gas company at the center of a fraud scandal arising from an $11 billion arbitration award issued against Nigeria urged the U.K.'s highest court Tuesday to change the currency for Nigeria's legal costs, arguing that the country would unjustly benefit from the depreciation of its own currency.
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July 08, 2025
Ban On Misconduct NDAs Throws Settlements Into Question
The government's proposal to void nondisclosure agreements covering alleged harassment and discrimination at work will discourage employers from settling claims, putting more pressure on tribunals and early conciliation services.
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July 08, 2025
Ex-Axiom Chief Ordered To Pay £5M SRA Intervention Costs
A London court ordered the former chief of Axiom Ince Ltd. to pay the multimillion-pound cost of regulatory intervention into the firm on Tuesday after concluding that he was involved with its misuse of £65 million ($88 million) of its clients' cash.
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July 08, 2025
Monzo Bank Fined £21M For Financial Crime Failings
The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.
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July 07, 2025
Malaysia Info Demand Gets Green Light In $14.9B Dispute
A Delaware judge has declined to nix an order allowing units of Malaysia's national energy company to seek discovery relating to a third-party funding deal that led to a $14.9 billion arbitral award issued against Kuala Lumpur following a territorial dispute stemming from a 19th-century land deal.
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July 07, 2025
Campaign Groups Fight For Full 'Dieselgate' Documents
Automakers accused of fitting emissions-test cheating devices in their cars should be forced to remove redactions they have made to documents filed in litigation brought by U.K. motorists, two climate campaign organizations argued at a hearing on Monday.
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July 07, 2025
Apple Appeals 'Unprecedented' €500M EU Digital Markets Fine
Apple Inc. launched an appeal on Monday to the European Commission's €500 million ($586 million) fine over anticompetitive behavior on its App Store that allegedly breached the European Union's Digital Markets Act.
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July 07, 2025
Law Firm Gets 'Vague' £4.6M Negligence Case Struck Out
A London court struck out on Monday an energy company's £4.6 million ($6.3 million) claim against Benson Mazure LLP, because the law firm would have unreasonable difficulty understanding and responding to the "vague and confused" case.
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July 07, 2025
TikTok Loses Appeal Over £12.7M Children's Data Fine
TikTok has failed to overturn a £12.7 million ($17.3 million) fine imposed for misusing children's personal data, after a tribunal Monday rejected the argument that the processing of the data was for creative or artistic purposes.
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July 07, 2025
Funder Claims Developer Used Biz As Facade To Pocket £4M
A litigation funder has alleged that a property developer owes it more than £3.8 million ($5.2 million) for pocketing his real estate business' money for nothing in return and operating his company as a facade to renovate properties he owns without taking on liability for the work.
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July 07, 2025
Rail Passengers Claim Just Fraction Of £25M Stagecoach Deal
Train passengers have claimed only £216,000 ($295,000) in compensation from a multimillion-pound settlement with Stagecoach, the Competition Appeal Tribunal revealed on Monday as it said it would consider ordering a "substantial payment to charity" from the unclaimed money.
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July 07, 2025
Leaders Of €15M Motor Oil VAT Scheme Convicted, EU Says
Three ringleaders of a €15 million ($17.6 million) value-added tax fraud ring involving motor oil were among 13 people convicted for their roles in the scheme, with Italian courts handing out a combined 34 years in sentences, the European Public Prosecutor's Office said.
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July 07, 2025
Pension Regulator Teams With Industry On Net-Zero Transition
The Pensions Regulator said Monday it will work with workplace pension schemes and financial advisers to develop a format for occupational pension schemes to develop voluntary transition plans in line with the government's aim to reach net-zero by 2050.
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July 07, 2025
FCA Amends Exposed-Persons Definition In AML Guidance
The City watchdog published amended guidance on Monday on politically exposed persons that loosen the rules for holders of prominent public positions in the U.K., in a bid to make the safeguards more proportionate.
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July 04, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen the owner of Crystal Palace and the troubled Olympique Lyonnais football clubs sue its current chief executive John Textor, Fieldfisher faces a claim by Georgian businessman Zaza Okusahvili, and a dispute partner at Travers Smith file a personal injury claim against the firm.
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July 04, 2025
Ex-Janus Analyst, Sister Given 11 Years For Insider Trading
A former City hedge fund analyst and his sister were sentenced by a London judge on Friday to a combined 11 years in prison for insider dealing and money laundering after they traded using confidential information to earn almost £1 million ($1.36 million) illegally.
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July 04, 2025
Ankle Tag Investors Deny £320M Conspiracy With Sacked CEO
Investors in a company which makes ankle tags have denied a £320 million ($437 million) claim that they conspired with the business's ousted chief executive to unlawfully profit from share sales.
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July 04, 2025
Pair Gets 12 Years In Prison For £1.5M Crypto-Investment Fraud
A London judge sentenced two men convicted of fraud to almost 12 years imprisonment on Friday for their involvement in a £1.5 million ($1.9 million) crypto-investment scam that spanned more than two years.
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July 04, 2025
Sheikh Must Pay Brothers $240M Each In Inheritance Fight
The son of an Emirati royal accused of embezzling more than $1 billion from his dead father must give two of his brothers approximately $240 million each for their shares in their father's estate, a London court ruled on Friday.
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July 04, 2025
Wider FCA Misconduct Rule Risks Over-Reporting Of Staff
The rule change proposed by the Financial Conduct Authority on non-financial misconduct for 37,000 companies outside the banking sector will generate pressure on businesses to protectively report employees to the regulator rather than risk later accusations of noncompliance.
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July 03, 2025
Fraud Review Finds Early Interest In Whistleblowers
There is "growing interest" in enlisting whistleblowers to help investigators crack fraud cases following extensive talks with law enforcement officers, prosecutors, judges and defense lawyers, according to a barrister reviewing the controversial topic for the government.
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July 03, 2025
EU Regulators Close Ranks To Fight Money Laundering
Europe's financial regulators said on Thursday they would work with the bloc's new central anti-money laundering watchdog to ensure the effective exchange of information to combat white-collar crime.
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July 03, 2025
Ex-Solicitor Admits Defrauding Clients Out Of £137K
A former solicitor and part-time judge admitted at a London criminal court on Thursday that he defrauded and stole from more than a dozen clients by appropriating at least £137,000 ($187,000) in payments to himself.
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July 03, 2025
Man Denies FCA £3.9M Water Investment Fraud Charges
A man denied that he took part in a £3.9 million ($5.3 million) water investment scam when he appeared at a criminal court in London on Thursday.
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July 03, 2025
Ex-Pensions Ombudsman Urges Gov't To Sustain Funding
The former head of the Pensions Ombudsman has praised the work of an anti-fraud unit established four years ago after it emerged that the government was pulling funding for the service.
Expert Analysis
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How EU Digital Act Could Shape UK Technology Disputes
Noncompliance with the recently effective European Union Digital Operational Resilience Act will add layers of complexity to disputes and litigation for U.K.-based firms servicing EU entities, but international standards may serve as a bridge between jurisdictional and contractual misalignments, says Siobhan Forster at Alvarez & Marsal.
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Key Findings From EU Report On Antitrust Remedies
Although the European Commission’s recent report assessing the effectiveness of its antitrust policy on behavioral remedies is not binding, it may influence future cases and promote coherence, providing useful insights for national competition authorities and courts when considering remedies in their own jurisdictions, say lawyers at Paul Weiss.
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How Foreign Cos. Should Prep For New UK Fraud Law
As the U.K. prepares to hold companies criminally liable for failing to prevent fraudulent acts of their associates, U.S. and global companies should review their compliance measures against the broad language of this new offense, which could permit prosecution of acts committed entirely abroad, say attorneys at Latham & Watkins.
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Opinion
EU's AI Code Of Practice Creates Risk Of Regulatory Clashes
The second draft of the European Commission's Artificial Intelligence Code of Practice significantly expands beyond the European Union's existing legal framework for AI — especially around copyright protection, public transparency and reporting obligations — and risks interfering with other EU laws by introducing requirements contrary to existing regulations, say lawyers at MoFo.
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Ruling In SFO Case Shows How Contract Rules Apply To DPAs
The Court of Appeal’s recent decision upholding the Serious Fraud Office's first-ever attempt to enforce an expired deferred prosecution agreement illustrates that the courts' approach to DPAs is governed by the rules of contract, and that the intention of the parties at the time of agreement is critical to contract interpretation, say lawyers at Simmons & Simmons.
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What To Know About Compliance As EU AI Act Takes Effect
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.
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Banker Remuneration Proposals Could Affect More Than Pay
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.
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Rethinking 'No Comment' For Clients Facing Public Crises
“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.
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EU Report May Influence Regulation Of Decentralized Finance
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.
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EU Paper Urges Data Protection And Competition Law Unity
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.
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Market Infrastructure Regs Aim To Reinvigorate EU Trading
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.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
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.
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Why EU Omnibus Package Is Receiving Mixed Reactions
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.
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Review Of Computer Evidence Use Raises Complex Issues
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.
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How Proposed Private Share Trading System May Benefit Cos.
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.