Corporate Crime & Compliance UK

Entrance to the UK Supreme Court in London

UK Supreme Court Boosts Creditor Protection In Fraud Cases

Britain's highest court has handed administrators more power to pursue businesses that turn a blind eye to fraud, with a ruling on Wednesday that will bolster protection for creditors and could raise the stakes for companies flying too close to the wind, lawyers say.

Financial Analyst Working on Computer with Multi-Monitor Workstation

Draft UK Crypto-Regulations Facing Teething Troubles

The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.

Campaigners for For Women Scotland outside the Supreme Court in London

5 More Things For Employers To Consider After Sex Ruling

The ruling in April by the U.K. Supreme Court on the legal definition of a woman will compel employers to rethink much more than who uses what toilet, lawyers say.

FCA Set To Get Enforcement Boost From New Fraud Offense

The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.

May 27, 2025
Ex-SFO General Counsel Lands Role At Mayfair Chambers

Sara Lawson KC has joined Mayfair Place Chambers after stepping down as general counsel to the Serious Fraud Office earlier in the year.
May 27, 2025
Suspected Ringleader Of €520M VAT Scheme Turns Self In

The suspected ringleader of a €520 million ($589 million) value-added tax fraud scheme that was under a cross-border investigation has turned himself in, law enforcement agencies said Tuesday.
May 27, 2025
Italian Police Seize €1M In Fraud Probe Tied To Officials

Italian authorities seized assets on Tuesday worth up to €1.1 million ($1.25 million) as part of an investigation into agricultural funding fraud linked to the corruption of public officials and a police officer, European prosecutors said.
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.
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.
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.
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.
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.
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.
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.
May 23, 2025
Tech Firm Settles £18.4M Fraudulent 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.

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

High Court Ruling Shows Firm Stance On Procedural Integrity

The recent High Court decision in Qatar Investment v. Phoenix Ancient Art demonstrates its zero tolerance of procedural failure, serving as a reminder that the financial burden associated with document disclosure will not excuse a party’s failure to comply with court orders, say lawyers at Quillon Law.
UK May Play Major Role In Corporate Misconduct Regulation

In light of the U.S.' pause in Foreign Corrupt Practices Act enforcement, the U.K. Serious Fraud Office has released new guidance showing it may seize the opportunity to play a heightened role in regulating corporate misconduct by U.S. companies with a global presence, particularly over the next few years, say attorneys at Paul Weiss.
Regulatory Shift Signals Greater Scrutiny After Data Breaches

Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.
What To Note As HM Treasury, FCA Plan New Crypto Regs

Taken together, HM Treasury’s recently proposed crypto-asset regulations and the Financial Conduct Authority’s new discussion paper on regulating crypto-asset activities provide key insights into the government's planned regime, which represents significant changes that will affect all firms providing related services, says Mark Chalmers at Davis Polk.
Tools For Effective Asset Tracking In Offshore Jurisdictions

In light of a technology company's recent allegations that its former CEO maintained an undisclosed interest in offshore companies, practitioners may want to refresh their knowledge of the tool kit available for tracing and recovering allegedly misappropriated assets from both onshore and offshore jurisdictions, say lawyers at Walkers Global.
Guidance Offers Clarity On UK Foreign Influence Registration

The Home Office's recently released guidance on the new Foreign Influence Registration Scheme provides important context for different industries and sectors, highlighting that careful assessment of interactions with foreign entities and governments is needed to determine whether registration is required, say lawyers at Skadden.
FCA Review Highlights Valuation Standards For Private Funds

The Financial Conduct Authority’s recent review of private funds valuation practices underscores the increasing importance of conducting robust and independent procedures, offering an opportunity for fund managers to strengthen their current valuation frameworks and improve investor confidence, say lawyers at Greenberg Traurig.
UK Data Disputes Could Become Competition Class Actions

While mass data protection claims have chafed against the procedural restrictions that apply to class actions under U.K. law, it is possible these claims will be brought into the fold of the rapidly growing Competition Appeal Tribunal scene, says Aislinn Kelly-Lyth at Blackstone Chambers.
What Cos. Need To Know About EU's AI Action Plan

The European Commission’s recently unveiled artificial intelligence continent action plan aims to position the European Union as a global AI leader, but with tension surrounding the EU AI Act’s compliance obligations, organizations should prepare for potential regulatory divergence between the plan's pro-innovation approach and the act's more prescriptive regime, says Marc Martin at Perkins Coie.
Russia Sanctions Spotlight: Divergent Approaches Emerge

With indications of greater divergence and uncertainty in Russia sanctions policy between the U.K., European Union and U.S., there are four general principles and a range of compliance steps that businesses should bear in mind when assessing the impact of a potentially shifting landscape, says Alexandra Melia at Steptoe.
What Santander Fraud Ruling Means For UK Banking Sector

A London court's recent judgment in Santander v. CCP Graduate School held that a bank does not owe any duty to third-party victims of authorized push payment fraud, reaffirming the steps banks are already taking to protect their own customers from sophisticated fraud mechanisms, say lawyers at Charles Russell.
Fines Against Apple, Meta Set Digital Markets Act Precedent

The European Commission's recent fines against Apple and Meta, the first under the Digital Markets Act, send a clear message that the act's reach and influence on regulatory thinking is global, say lawyers at Waterfront Law.
FCA Update Eases Private Stock Market Disclosure Rules

The Financial Conduct Authority’s recently updated proposals for the Private Intermittent Securities and Capital Exchange System would result in less onerous disclosure obligations for businesses, reflecting ongoing efforts to balance an attractive trading venue for private companies while maintaining sufficient investor protections, say lawyers at Debevoise.
Key Questions As Court Mulls Traders' Libor Convictions

The U.K. Supreme Court is considering whether to overturn two traders’ Libor and Euribor manipulation convictions, with the appeal reinvigorating debate over the breadth of English common law’s conspiracy to defraud offense and raising questions about the limits of a judge’s role in criminal jury trials, says Ellen Gallagher at Vardags.
Foreign Countries Have Strong Foundation To Fill FCPA Void

Though the U.S. has paused enforcement of the Foreign Corrupt Practices Act, liberal democracies across the globe are well equipped to reverse any setback in anti-corruption enforcement, potentially heightening prosecution risk for companies headquartered in the U.S., says Stephen Kohn at Kohn Kohn.