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Corporate Crime & Compliance UK
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May 27, 2025
Lancaster Crown Court Faces Closure Over Security Concerns
The government has opened up a consultation for its proposal to permanently close a major criminal court in the northwest of England and surrender the lease for the building.
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May 27, 2025
7th Person Arrested In Recycling Fraud Investigation
Environment Agency officers and regional police have arrested a seventh individual as part of an active investigation into the illegal recycling of export paperwork, the government body has revealed.
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May 27, 2025
JPMorgan Unit Fined For Failing To Disclose Key Data
The French electricity and gas markets regulator said Tuesday that it has fined a German subsidiary of JPMorgan Chase & Co. €500,000 ($568,000) because it failed to identify all its clients when energy prices soared in France.
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May 23, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Nestlé hit with an intellectual property claim by a pet insurance company, VTB Capital bring a breach of contract lawsuit against J.P. Morgan Securities, and Société Générale's former chief executive face litigation from an Italian entrepreneur.
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May 23, 2025
Belgian Tax Break Denials Don't Break EU Rules, ECJ Advised
Belgium isn't breaking with European Union law by denying companies tax deductions under controlled foreign corporation rules, an adviser to the EU's top court said in an opinion.
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May 23, 2025
Accounting Firm Says Business Partner Embezzled £850K
An accounting firm has accused a business partner of embezzling at least £850,000 ($1.1 million), telling a London court that there was a conspiracy to harm the business.
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May 23, 2025
FCA Bans Former Credit Suisse VP After US Conviction
The Financial Conduct Authority said Friday that it has banned a former vice president of Credit Suisse from working in financial services in Britain after her conviction in the U.S. over links to corrupt loans to the Republic of Mozambique.
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May 23, 2025
Tech Firm Settles £18.4M Acquisition Claim
A consumer technology business has settled its £18.4 million ($25 million) claim over its purchase of an online retailer, in which it alleged that the owners of the digital platform had fraudulently represented its finances as healthier than they were.
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May 23, 2025
BVI Firm Settles £8.5M Fraud Case Over Property Transfer
A company registered in the British Virgin Islands has settled its £8.5 million ($11.5 million) fraud case against a debtor, ending its fight for a court declaration that the transfer of a property was done to hinder its chances of clawing back money it was owed.
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May 22, 2025
Tory Donor Battles BBC Over Corruption Libel Defense
Telecoms magnate and Conservative Party donor Mohamed Amersi urged a London judge Thursday to throw out part of the BBC's defense over what he asserts are the corporation's "baseless factual assertions," in the latest stage of his high-profile libel claim.
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May 22, 2025
Ransomware Ban Move Could Push Hackers To Private Sector
The government's bid to crack down on ransomware payments could heap pressure on companies in crisis without any guarantee that it will pull the plug on the billion-pound cybercrime industry, lawyers say.
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May 22, 2025
M&S Says Hack Attack Disruption To Last Till July, Cost £300M
Retail giant Marks & Spencer has said it expects the cyberattack hit it took in April to cost it around £300 million ($402 million), with disruption likely to continue to online retail until July.
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May 22, 2025
EY Says NMC Health Obstructed Detection Of £2B Fraud
NMC Health "frustrated and obstructed" EY's ability to detect widespread fraud at the healthcare chain, lawyers for the Big Four firm said in its defense against a £2 billion ($2.7 billion) High Court claim Thursday.
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May 22, 2025
Marsh Settles $143M Claim Over Losses In Greensill Collapse
Marsh has reached settlement in a claim of almost $143 million with investment firm White Oak, which had alleged that the insurance broker misled it when selling cover for investments in Greensill Capital, a financing firm that collapsed in 2021.
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May 21, 2025
Finance Worker Who Stole Secret Docs Can't Claim Notice Pay
A clearing bank was within its rights to sack a finance manager without notice pay after he breached his contract by sending confidential information to his personal email address, a tribunal has ruled.
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May 21, 2025
UK Lawyer Charged With Money Laundering In NCA Probe
A solicitor and an accountant, both Midlands-based, have been charged with money laundering following a National Crime Agency investigation, the authority disclosed Wednesday.
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May 21, 2025
NCA Recovers £17.5M In UAE Money Laundering Investigation
The U.K.'s National Crime Agency said Wednesday that an Emirati company had agreed to forfeit £17.5 million ($23.5 million) after a money laundering investigation.
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May 21, 2025
Crypto-Traders Can't Revive Bulk Of £10B Binance Claim
An appeals court Wednesday rejected most of a £10 billion ($13.3 billion) class action against Binance for delisting a bitcoin alternative, ruling that investors were not entitled to claim damages from the cryptocurrency exchange on the basis they lost out on its future speculative value.
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May 21, 2025
Class Rep Can't Appeal Chucked £800M Water Pollution Claim
The U.K. competition tribunal has said an environmental consultant cannot challenge its decision to toss her £800 million ($1.1 billion) proposed class action against several water companies over their alleged failure to report pollution, finding that there is no real prospect of a successful appeal.
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May 21, 2025
EY Blames 'Army Of Fraudsters' For NMC Health Collapse
EY was "duped by an army of fraudsters" who controlled NMC Health "from top to bottom" and prevented the Big Four firm from discovering failings at the healthcare chain, lawyers argued in their defense against a £2 billion ($2.7 billion) High Court claim Wednesday.
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May 20, 2025
JPMorgan Fell Short In Trader Spoofing Investigation
A former metals trader at JPMorgan Chase & Co. has won his claim that he was unfairly fired on suspicion of fraud because of shortcomings in the bank's disciplinary process — but his compensation will be slim after an employment tribunal ruled it was very likely he would have been dismissed regardless.
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May 20, 2025
Liquidators Of 'Ponzi-Type Scheme' Co. Sue Insurer For £3M
The liquidators of a business behind a "Ponzi-type scheme" are suing the insurer of a now-defunct company involved in the scheme's funding for more than £3 million ($4 million), pointing to its alleged failure to ensure the investment plan was legitimate.
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May 20, 2025
Tenn Capital, Elite Law Settle £1.9M Loan Fraud Dispute
Tenn Capital Ltd. has settled its claim that Elite Law Solicitors Ltd. failed to secure necessary protections over a £1.9 million ($2.54 million) property loan and failing to identify the borrower as an alleged fraudster.
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May 20, 2025
Wine Biz CFO Loses Bid To Block US Fraud Extradition
A wine company's former chief financial officer lost a legal appeal Tuesday against his extradition to New York to face prosecution on charges of cheating investors out of $99 million by persuading them to make interest-bearing loans using valuable wine collections as collateral.
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May 20, 2025
Corker Binning Hires Veteran White Collar Pro Stephen Gentle
White-collar boutique law firm Corker Binning has hired a top-ranked veteran solicitor with an extensive track record working on high-profile bribery, fraud and economic crime cases as a consultant.
Expert Analysis
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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Rising To The Task Of Online Safety Act Compliance
The arrival of the Online Safety Act’s deadlines for all in-scope services and children’s access in March and April, enabling the Office of Communications to begin enforcing safety duties regarding illegal content, presents formidable compliance challenges for affected businesses, says Louisa Chambers at Travers Smith.
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Google Win Illustrates Hurdles To Mass Data Privacy Claims
The Court of Appeal's December decision in Prismall v. Google, holding each claimant in a mass data privacy suit must demonstrate an individualized and sufficiently serious injury, demonstrates the difficulty of using representative action to collect damages for misused private information, say lawyers at Seladore Legal.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.
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New CMA Powers Will Change Consumer Protection Regime
The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
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Opinion
Prospects For New Fraud Prevention Prosecution Look Slim
With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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What To Note In EU Tech Transfer Agreements Consultation
Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.