Corporate Crime & Compliance UK

  • April 08, 2024

    Minister Calls For Prison Time Over Post Office IT Scandal

    Individuals in the Post Office who wrongfully prosecuted innocent sub-postmasters "should go to jail," a minister said on Monday, on the eve of the inquiry into the miscarriage of justice resuming.

  • April 08, 2024

    Attwells Denies Breaking Promise In £1.2M Loan Dispute

    Attwells Solicitors LLP has denied promising that it was acting on behalf of a man who, the law firm says, was probably fraudulently posing as the owner of two properties in a move to borrow £775,000 ($980,000) from a finance company.

  • April 08, 2024

    Grant Thornton Fined For Audit Compliance Breaches

    The Financial Reporting Council said Monday it has fined accounting firm Grant Thornton £40,000 ($50,500) for failing to comply with audit regulations in its work on a local authority's pension fund.

  • April 05, 2024

    CMS Breached Instructions Over Lawyer Fees, Ex-Client Says

    A former CMS Cameron McKenna Nabarro Olswang LLP client told a London court Friday that the law firm acted in breach of instructions when using some of the money earmarked for counsel in civil and criminal proceedings to pay itself.

  • April 05, 2024

    High Court Limits Use Of Confidential Info In $3.7B Asset Fight

    Relatives of a dead Russian oligarch and an investment company accused of international fraud on Friday partially succeeded in obtaining an order to prevent the alleged misuse of their confidential information.

  • April 05, 2024

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

    This past week in London has seen the BBC sued by former Georgian defense minister David Kezerashvili, Russian businessman Ildar Sharipov file a defamation claim against the publisher of the Liverpool Echo newspaper, MEX Group Worldwide sue Barclays and NatWest, and a climbing gear company hit retailer Next with a claim of copyright infringement. Here, Law360 looks at these and other new claims in the U.K.

  • April 05, 2024

    6 Questions For Paul Hastings' Stuart Alford KC

    Paul Hastings LLP's new partner, Stuart Alford KC, is a former senior official at the Serious Fraud Office and has worked at two heavyweight U.S. firms, Kirkland & Ellis and Latham & Watkins. Here, he talks to Law360 about his career and about white-collar crime.

  • April 05, 2024

    18 Crime Gangs Specialize In VAT Fraud, Europol Says

    Eighteen major criminal gangs in the European Union specialize in value-added tax fraud, having end-to-end control over the entire criminal process, the EU's law enforcement agency said Friday.

  • April 05, 2024

    Counterfeiters Flourish In Wake Of COVID, IP Body Says

    The COVID-19 pandemic resulted in a global uptick in the trade of counterfeit goods, beginning with fake healthcare products but spreading to other areas of trade as virtually all shopping moved online, a new report found Friday.

  • April 05, 2024

    Cloud Biz Denies Owing Telecom Execs Over Bad Sale

    A cloud technology business has denied owing directors of a telecommunications company £1.5 million ($1.9 million) left unpaid after it bought their business, claiming the money due is offset by the £2 million it lost from the sale.

  • April 05, 2024

    Retired Rabbi To Return £2.3M To Charities After NCA Probe

    A retired rabbi will return £2.35 million ($3 million) to two charities after he kept the money rather than distribute it for its intended legitimate causes, the National Crime Agency said on Friday.

  • April 04, 2024

    UK Billionaire Lewis Avoids Prison For Insider Trading

    A New York federal judge on Thursday sentenced British billionaire Joe Lewis to three years of probation for feeding his girlfriend and private-jet pilots nonpublic stock tips about his private equity firm's portfolio companies, saying a prison term would put the 87-year-old at "serious risk" of death.

  • April 04, 2024

    Sexually Harassed Class Helper Fired For Lying Wins Payout

    A teaching assistant who lied about having COVID-19 to go on vacation has won a £9,309 ($11,775) payout after a female headmaster sexually harassed him, then sacked him following a flawed investigation into his lies.

  • April 04, 2024

    Pillsbury's New UK White Collar Chief Eyes Success In London

    Former Serious Fraud Office "powerhouse" Audrey Koh is in the building, and Pillsbury Winthrop Shaw Pittman says it now has the tools to launch its white-collar and corporate investigations practice in London. Here, Koh and managing partner Matthew Oresman survey the legal landscape.

  • April 04, 2024

    FCA To Claw Back £1.6M From Fund Manager For Investors

    The Financial Conduct Authority said on Thursday that it has won court approval to take £1.6 million ($2 million) from fund manager Argento Wealth and its only director, who promoted two allegedly unlawful investment schemes.

  • April 04, 2024

    UK Joins Global Data Protection Enforcement Program

    Britain's data watchdog said Thursday it has signed a new agreement with the Global Cooperation Arrangement for Privacy Enforcement to cooperate on cross-border data protection with the U.S. and eight other Pacific Rim countries.

  • April 04, 2024

    Stagecoach Poised To Settle In £93M Train Ticket Class Action

    Train operator Stagecoach is seeking to end its role in a £93 million ($118 million) collective action brought on behalf of passengers who allegedly paid double for their journeys, documents published by the Competition Appeal Tribunal on Thursday reveal.

  • April 04, 2024

    Financial Ombudsman Braces For Bigger Caseload

    The U.K. Financial Ombudsman Service said Thursday that it had upped its estimate of how many complaints it expects to receive in the coming financial year to 210,000 from 181,000 due to increased everyday financial concerns.

  • April 04, 2024

    Standards Setter Warns Of Conflicts Of Interest In Exchanges

    A global standards setter for regulators warned Thursday of the risk of conflict of interests in stock exchanges, including in situations where exchanges also run data or technology services.

  • April 04, 2024

    Money Was Siphoned To Former Exec's Wife, Insurer Says

    A Liechtenstein insurer suing two of its former directors for allegedly funneling millions of pounds to accounts they had ties to has now accused one of the men's wives of also benefiting from unauthorized payments.

  • April 03, 2024

    OneCoin Atty Gets 4 Years For Role In $4B Crypto Fraud

    The former head of legal and compliance at OneCoin on Wednesday was sentenced to four years in prison for her role in the $4 billion cryptocurrency scheme that defrauded millions of investors around the world.

  • April 03, 2024

    UK Billionaire Lewis Agrees To $1.64M Insider Trading Penalty

    British billionaire Joseph Lewis has agreed to pay $1.64 million to settle the U.S. Securities and Exchange Commission's civil claims he fed confidential tips to his personal pilots and then-girlfriend after pleading guilty to related criminal charges earlier this year.

  • April 03, 2024

    Forex Broker Wins Deceit Claim Over TV Transactions

    A forex broker has won in his 7.9 billion Nigerian naira ($5.9 million) deceit claim over an English brokerage's alleged failure to pay out dollars for naira after a London judge ruled that the firm would not be able to defend against it.

  • April 03, 2024

    UK Seeks To Share Country-Level Tax Reports, Official Says

    The U.K. government wants to allow low-income countries greater access to country-by-country reports of multinational corporations' tax data as a way to help them recover revenue that they're owed, a Cabinet official said Wednesday.

  • April 03, 2024

    CMS Says Ex-Client's Fee Dispute Claim Is Baseless

    CMS Cameron McKenna Nabarro Olswang LLP on Wednesday urged a London court to throw out a former client's "fundamentally defective" case over funds paid to the firm during fraud proceedings because it is an abuse of process.

Expert Analysis

  • Firms Should Prepare For New DEI Reporting Requirements

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    While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.

  • What The UK Digital Markets Bill Will Mean For Businesses

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    The new investigatory and enforcement powers conferred by the U.K. Digital Markets, Competition and Consumers Bill mean that although businesses may be aware of their market status due to existing EU law, they should ensure they are mindful of the changes to consumer law and the implications for digital markets, says Richard Hugo at Burges Salmon.

  • 5 Takeaways From ICO's Biometric Recognition Guidance

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    Recent guidance from the U.K. Information Commissioner’s Office is a helpful reminder of key data protection principles and obligations stemming from the U.K. General Data Protection Regulation that organizations should consider when implementing biometric recognition technology, say lawyers at Dechert.

  • TikTok Fine Highlights EU Approach To Children's Data Rights

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    Following the Irish Data Protection Commission's recent fine against TikTok for breaching children's data protection rights, organizations should adopt a proactive approach and implement measures aiding compliance with the General Data Protection Regulation, says Carla Murray at Myerson.

  • A Case For The Green Investment Regime Under The ECT

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    The EU and U.K.'s potential plans to exit the Energy Charter Treaty, which has been criticized as protecting fossil fuel investments to the detriment of energy transition, ignore the significant strides taken to modernize the treaty and its ability to promote investment in cleaner energy forms, say Amy Frey and Simon Maynard at King & Spalding.

  • Considerations For Fund Managers Seeking Retail Investment

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    With recent legal developments, including a revised Long Term Investment Funds Regulation effective in 2024, supporting the market trend of retailization, there are several practical considerations for alternative fund managers embarking on a European fundraise for retail capital, say Zac Mellor-Clark and Kate Downey at Fried Frank.

  • FDI Considerations For UK Venture Capital Transactions

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    With the U.K. National Security and Investment Act highlighting foreign direct investment matters for venture capital transactions, investors dealing with companies connected to the U.K. should be alive to how the act's requirements can affect deal timelines, structures and terms, say lawyers at Covington.

  • What The Anti-Coercion Instrument Will Bring To The EU

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    Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring discuss why the European Union recently adopted a report on the anti-coercion instrument to reform its trade legislation, how the instrument will be used to respond to unfair economic pressure from third countries, and how businesses can impact the EU's decision making.

  • Why FCA Crypto Rules Need To Align With UK Gov't Aims

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    There is a critical need for cryptocurrency regulations that protect consumers while supporting the government's aim to make the U.K. a crypto hub, but the Financial Conduct Authority’s recently effective rules on financial promotion of crypto-assets bring an unintended risk that legitimate firms will be driven out of the market, says Laura Navarathnam at the Crypto Council for Innovation.

  • What To Consider When Making Brand Sustainability Claims

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    A recent KMPG report shows that while consumers are actively seeking out sustainable products, most will also avoid brands caught misleading customers about their sustainable credentials, meaning companies must walk a fine line between promoting and exaggerating sustainability claims, says Iona Silverman at Freeths.

  • In Balancing Commerce And Privacy Interests, Consent Is Key

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    Although the European Commission's recent adoption of the EU-U.S. data privacy framework will make the use of tracking services with pixels easier, it highlights the significance of website visitor consent and the need for enterprises to provide users with complete and transparent information while adhering to all data protection regulations, say Áron Hegyi and Máté Dura at Schönherr.

  • CMA Report On AI May Lead to Greater Competition Control

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    The U.K. Competition and Markets Authority’s recent report on artificial intelligence foundation models is a sign that developers could face increased merger control and antitrust enforcement, and businesses should be mindful of these views to ensure that their models do not come under investigation, say attorneys at Morgan Lewis.

  • UK Mozambique Ruling Will Have Int'l Ramifications

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    The recent U.K. Supreme Court judgment in Mozambique v. Privinvest considered for the first time stay proceedings under the Arbitration Act, offering guidance on whether claims are a "matter" within the scope of an arbitration clause, which could become a point of reference for foreign courts in the future, say lawyers at Herbert Smith.

  • Recent Trends In European ESG-Related Shareholder Activism

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    New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.

  • Audit Regulator Review Has Tips On Climate Metric Reporting

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    The U.K. Financial Reporting Council’s recent review of climate-related metrics and targets in listed companies’ annual reports is an extremely useful guide for issuers considering the quality of their disclosure reporting, with a number of key areas identified as central to further improvement, say lawyers at Bryan Cave.

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