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Crispin Odey's lifetime ban will give the Financial Conduct Authority another springboard for cracking down on nonfinancial misconduct, sending a warning to firms to run an independent and thorough probe as well as investigate the allegations, lawyers say.
Citibank's fine for violating the U.K. sanctions regime shows that the enforcer will punish companies for serious breaches even if there was no intent to break the rules, underscoring the need for firms to stress-test their screening systems, lawyers say.
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Finance firms are bracing for a surge in disputes over obligatory references after non-financial misconduct rules were extended to 37,000 non-bank firms, legal experts say.
Although the Serious Fraud Office's settlement with ENRC closes an uncomfortable chapter that the agency insists cannot recur, lawyers say its real test is whether it can stop the weaknesses exposed by the scandal from returning again.
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Crispin Odey's lifetime ban will give the Financial Conduct Authority another springboard for cracking down on nonfinancial misconduct, sending a warning to firms to run an independent and thorough probe as well as investigate the allegations, lawyers say.
Citibank's fine for violating the U.K. sanctions regime shows that the enforcer will punish companies for serious breaches even if there was no intent to break the rules, underscoring the need for firms to stress-test their screening systems, lawyers say.
Finance firms are bracing for a surge in disputes over obligatory references after non-financial misconduct rules were extended to 37,000 non-bank firms, legal experts say.
Although the Serious Fraud Office's settlement with ENRC closes an uncomfortable chapter that the agency insists cannot recur, lawyers say its real test is whether it can stop the weaknesses exposed by the scandal from returning again.
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September 18, 2026
The Formula One World Championship has fought back against claims that it still owes a Russian promotion company a refund for $24 million in race fees that it handed over before Russia's military invasion of Ukraine voided their contract as Western governments imposed sanctions.
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September 18, 2026
The owner and manager of a superyacht that sank off the Sicilian coast, killing technology entrepreneur Mike Lynch and his Clifford Chance LLP lawyer, have filed a claim in London aimed at limiting what they could owe in damages to individuals affected by the sinking.
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September 18, 2026
A New York federal judge has sent claims against a manager of lender W Management Services and agent SRT Capital SPC Ltd. to arbitration in a wide-ranging suit brought by an Aeva Technologies co-founder who alleges Credit Suisse provided "institutional cover" to conspirators who stole tens of millions of dollars.
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September 18, 2026
Lawyers are urging the Financial Conduct Authority to rush out guidance on how far senior managers are accountable for growing risks from cutting-edge artificial intelligence amid unclear and outdated rules.
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September 18, 2026
A solicitor can recover all the legal costs of defending herself from contempt proceedings brought by a puppy farm after an appeals court held Friday that her fee agreement with her defense lawyers meant she could claim more than the legal aid rate.
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September 18, 2026
Arab Bank Europe has sued an Omani businessman for more than £17 million ($22.7 million) after he allegedly failed to cover payments on four defaulted corporate loans he had guaranteed.
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September 18, 2026
A businessman who founded British private car hire company Addison Lee can't avoid over £20.5 million ($27.4 million) in taxes after a London tribunal rejected his claim to nondomicile tax status over his family connections to Ireland.
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September 18, 2026
Five individuals pleaded not guilty Friday at a London criminal court to tax fraud and money laundering charges linked to an HM Revenue and Customs investigation into a payroll outsourcing business.
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September 18, 2026
The past week in London has seen Victoria's Secret and Thomas Pink file competing IP claims, more than 1,000 retail consumers launch a group action against Binance, Baker Hughes targeted in a commercial claim by its former Russian subsidiary and university students hit four British institutions with breach of contract claims over pandemic-era closures.
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September 17, 2026
A British artificial intelligence medical imaging company has denied that it wrongfully excluded an investor's appointed observer from board meetings, attributing the decision to a potential conflict of interest.
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September 17, 2026
A former employee of two men accused of orchestrating an £87 million ($116 million) Ponzi scheme through their car-financing company testified at trial in London on Thursday that it was "common knowledge" among staff that the business was facing problems.
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September 17, 2026
The London Metal Exchange is being accused of abusing its dominance by failing to install safeguards, in a new attempt to hold the market liable for the disorder that followed a surge in nickel prices in 2022.
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September 17, 2026
A Milan court convicted six individuals of participating in a €520 million ($597 million) value-added tax fraud scheme involving electronics that was bankrolled by an Italian crime syndicate, the European Public Prosecutor's Office said Thursday.
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September 17, 2026
Gabon Bank has denied liability for a €25 million ($28.6 million) claim brought by African Export-Import Bank, arguing that the payment arose from a fraudulent fuel transaction that Afreximbank knew about, or should have.
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September 17, 2026
Apple Inc. and transparency campaigners urged a London tribunal Thursday to force the U.K. government to acknowledge whether it has imposed a restriction on the consumer tech giant's end-to-end encryption services for users in Britain.
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September 17, 2026
The Competition Appeal Tribunal on Thursday approved a plan for distributing settlements totaling £92.75 million ($123.9 million) to motorists in class action claims against vehicle shipping companies over delivery charges.
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September 17, 2026
European authorities conducted searches, arrests and asset freezes as part of an investigation into a suspected cross-border value-added tax fraud involving online mobile phones sales, prosecutors said Thursday.
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September 17, 2026
An executive director at the finance watchdog urged law firms on Thursday to work with law enforcement agencies to tackle economic crime, saying they played a crucial role in detecting and investigating the spread of dirty money.
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September 17, 2026
The Financial Conduct Authority said Thursday it has continued its crackdown on illegal cryptocurrency trading, working with HM Revenue and Customs and the Metropolitan Police to target suspected unregistered peer-to-peer crypto businesses in London.
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September 17, 2026
The Financial Conduct Authority said Thursday that it has opened an investigation into a currency exchange and international payment processing business based in London as it probes potential breaches of money laundering rules.
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September 16, 2026
Dubai-based construction conglomerate ASGC argued in a London court Wednesday that a U.K. rival should be ordered to give it broader access to data and documents, warning that it might collapse as it cannot file accounts or tax returns.
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September 16, 2026
Two directors of a failed car leasing group denied at trial on Wednesday that they lied to investors to dupe them into putting £87 million ($117 million) into a car leasing scheme, which prosecutors say was a Ponzi scheme.
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September 16, 2026
The Financial Conduct Authority issued guidance on Wednesday to help crypto-businesses prepare for the authorization needed to operate in the U.K. from October 2027.
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September 16, 2026
The government will look at bolstering the fight against dirty money by potentially extending anti-money laundering regulations to include property developers, football clubs and players' agents, according to its first-ever strategy.
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September 16, 2026
Crispin Odey has made headlines again as a tribunal upheld a ban on the former hedge fund boss. Here, Dechert partner Richard Hodge talks to Law 360 about how the FCA wants to stamp out non-financial misconduct in the sector and how businesses will face pressure to stamp out sexual harassment.