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 09, 2025
Dyson Loses Bid To Take Forced Labor Claim To UK Top Court

Dyson will fight claims in England that it did nothing about allegations of forced labor at Malaysian factories making components for the appliance manufacturer after the U.K.'s highest court refused it permission to challenge jurisdiction in the case any further.
May 09, 2025
Nigeria Can Argue £15M Award Was Obtained By Fraud

Nigeria can attempt to set aside a $15 million award in favor of a businessman who was the target of an undercover operation by the country's state security, after a London judge dismissed his bid to strike the case out.
May 09, 2025
Brothers Plead Guilty To FCA Insider Dealing Charges

Two brothers admitted on Friday to using inside information to profit from dealing in shares over four years, following a prosecution brought at a criminal court in London by the Financial Conduct Authority, the watchdog said.
May 09, 2025
EU Fund Managers Call To Simplify EU Sustainability Package

Europe's fund managers on Friday backed the European Union's bid to streamline the bloc's sustainability regulations, but warned "excessive" reductions in reporting requirements could limit investors' access to crucial environmental, social, and governance data.
May 09, 2025
'Bargain Hunt' Art Expert Pleads Guilty To Terrorist Financing

An art gallery founder and reality TV art expert pleaded guilty to terrorist financing offenses at a London criminal court Friday.
May 08, 2025
Court Upholds CMA's £99M Thyroid Drug Price Fines

A U.K. appellate court has not only upheld a finding that drug company Advanz excessively inflated the price of its thyroid tablets for the National Health Service but also reimposed fines against the company's former owner that a lower tribunal had cut by almost a third.
May 08, 2025
'Bargain Hunt' Art Dealer Charged Under Terror Financing Law

Police charged an art dealer who featured in a hit BBC show under laws against financing terrorism on Thursday, making him the first person ever to face charges in the U.K. for allegedly failing to make obligatory regulatory disclosures.
May 08, 2025
UK Watchdog Fines Fuel Trader For Ignoring Info Request

The U.K. government body responsible for implementing and enforcing financial sanctions said Thursday that it has fined a British shipping company for ignoring a request to provide information relating to a "large and complex investigation" involving Russia's largest shipping company.
May 08, 2025
Crypto Traders Seek To Revive Part Of £10B Binance Claim

A group of investors asked the Court of Appeal on Thursday to revive their claims against Binance on the basis that its delisting of a cryptocurrency caused them damage, saying a lower tribunal was wrong to toss out its "loss of chance" argument.
May 08, 2025
Bulgarian Who Spied For Russia Was Not 'Anti-West'

The ringleader of a group of people who spied on behalf of Russia is not an "anti-Western ideologue" but merely somebody who is willing to work for whoever hires him, his barrister told a sentencing hearing on Thursday.
May 08, 2025
Tribunal Clears CPS In Legal Adviser's Discrimination Case

The Crown Prosecution Service did not discriminate against a former legal adviser by giving him formal warnings about his attendance after multiple spells of sickness absence, a tribunal has ruled.
May 08, 2025
FRC Bans Former Finance Head Of Bankrupt Local Council

The audit watchdog said Thursday it has banned the former chief financial officer of a bankrupt English local authority from the accounting profession for five years for overseeing a risky investment strategy worth £1 billion ($1.3 billion).
May 07, 2025
Sentencing Begins For Bulgarians Who Spied For Russia

The leader of a group of Bulgarians who spied for Russia would always try to "service" the needs and requests of his "paymasters" at the Kremlin, a prosecutor said on the first day of the spies' sentencing Wednesday.
May 07, 2025
Finance Trade Body Warns AI Can Amplify Misconduct Risk

A U.K. trade body for financial firms warned a group of members of Parliament at a hearing Wednesday that artificial intelligence amplifies the risk that banks could screen out unwanted customers without anyone knowing, in defiance of the Consumer Duty.
May 07, 2025
Consultant Disputes Golf Retailer's VAT Invoice Claim

A former consultant to a U.K. golf retailer on Wednesday disputed the company's allegations in London court that he overcharged it nearly $1 million and failed to pay value-added tax to HM Revenue & Customs.
May 07, 2025
UK To Make It Easier To Fire Police In Misconduct Cases

Police officers found guilty of gross misconduct are likely to be sacked under regulations presented to Parliament on Wednesday.
May 07, 2025
Lloyd's Broker Appears In Court On Ecuador Bribery Charges

A Lloyd's of London broker appeared in court Wednesday accused by the Serious Fraud Office of failing to prevent a U.S.-based intermediary from making corrupt payments in Ecuador in order to secure contracts worth $38 million.
May 07, 2025
EU Watchdog To Advise Tightening Insider Dealing Rules

The EU markets watchdog specified on Wednesday in advice to the European Commission on insider dealing rules for companies listing shares that profit warnings must be disclosed immediately rather than delay until accounts are produced.
May 07, 2025
Top UK Court Expands Fraud Liability In Carbon Credits Case

Britain's highest court ruled Wednesday that a major brokerage firm can be held liable for millions of pounds owed to Britain's tax collector from a carbon credits tax fraud, a decision that could expand the reach of insolvency proceedings.
May 06, 2025
Cyber Agency Urges Retailers To Review Systems After Hacks

Britain's agency for online security matters is urging retailers to tighten their digital defenses amid speculation over cyberattacks against major local stores and discussions about hackers targeting IT help desks to reset passwords.
May 06, 2025
Financial Complaints Skyrocket After Motor Finance Ruling

The U.K.'s financial complaints watchdog said Tuesday that it received more than 140,000 reports about financial businesses in the last six months of 2024, up almost 49% on the same period a year earlier, after a landmark ruling that requires motor finance lenders to disclose commissions.
May 06, 2025
HSBC Settles Reporting Whistleblowing Fight With Ex-Exec

HSBC Bank PLC on Tuesday settled its dispute with a former senior employee who had accused the retail banking giant of firing him for making protected disclosures about the lender's alleged capital reporting failings.
May 06, 2025
Money Laundering Surges To £377M In UK Amid Fall In Fraud

Money laundering was the biggest source of fraud and economic crime by value in the U.K. in 2024, with the average value of individual cases increasing 10-fold compared with 2023, a professional services firm reported Tuesday.
May 06, 2025
Marsh Blamed For $143M Loss On Greensill As Trial Opens

The investment firm White Oak said it would never have invested in a financial scheme set up by now-collapsed Greensill Capital if it had not relied on misleading statements provided by the insurance broker Marsh about its cover, the firm's lawyers said at the opening of an almost $143 million trial Tuesday.
May 06, 2025
EU Watchdog Proposes New Rules For ESG Ratings Firms

The European Union's markets watchdog has proposed new rules for providers of ESG ratings in a move to prevent conflicts of interest and improve their disclosures.

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

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.
Code Of Practice Signals Aim To Bolster UK Software Security

The U.K. government’s new code of practice for software vendors includes several principles that will help developers and distributors integrate security best practices, but without mandatory adoption, market inconsistencies may emerge, say lawyers at Deloitte.
Expect Complex Ruling From UK Justices In Car Dealer Case

While recent arguments before the U.K. Supreme Court in a consumer test case on motor finance commissions reveal the court’s take on several points argued, application of the upcoming decision will be both nuanced and fact-sensitive, so market participants wishing to prepare do not have a simple task, says Tom Grodecki at Cadwalader.
Why Cos. Should Investigate Unethical Supply Chain Conduct

The U.K. government’s recent updated guidance for businesses on reporting slavery and human trafficking in supply chains underscores the urgent need for companies to adopt transparent and measurable due diligence practices, reinforcing the broader need for proactive internal investigations into unethical or criminal conduct, say lawyers at Seladore and Matrix Chambers.
FCA Bulletin Highlights Risks Of Leaking Inside M&A Info

The Financial Conduct Authority’s recent bulletin on the consequences of leaking sensitive information during transactions, warning that such disclosure may result in market abuse allegations, demonstrates the regulator’s determination to root out and penalize insider dealing, say lawyers at Cadwalader.
New Anti-Corruption Task Force Bolsters Int'l Collaboration

The recent creation of an anti-corruption task force by the U.K., France and Switzerland demonstrates a commitment to tackling bribery within national and international frameworks, and organizations within these jurisdictions’ remit, including U.S. companies operating in Europe, should review their compliance practices to ensure they address diverging requirements, say lawyers at Skadden.
FCA's Regulatory Plans Signal Cause For Cautious Optimism

The Financial Conduct Authority’s latest strategy document plans for less intrusive supervision, a more open and collaborative approach, and a focus on assertive action where needed, outlining a vision of deepened trust and rebalanced risk that will be welcomed by all those it regulates, says Imogen Makin at WilmerHale.
How CMA Is Responding To UK Gov't Pro-Growth Agenda

With the U.K. government’s recent call for the Competition and Markets Authority and other regulators to better support economic growth, the competition policy landscape is shifting materially toward an emphasis on a more proportionate and targeted approach to merger enforcement, say lawyers at Macfarlanes.
US Diversity Policies Present Challenges To UK And EU Cos.

Following President Donald Trump’s recent executive orders calling for increased scrutiny of diversity, equity and inclusion initiatives, it is clear that global businesses operating in the U.K. and European Union will need to understand regional nuances to successfully navigate differing agendas on either side of the Atlantic, say lawyers at Jenner & Block.
Updated EU Procedure Streamlines Data Transfer Approval

The European Data Protection Board’s updated approval procedure for binding corporate rules for transfers of personal data to non-European Union countries promotes consistency for regulator communications during the application process, and sets expectations for processing timelines, say lawyers at Hogan Lovells.
What Cos. Must Note From FCA Bulletin On Leaking M&A Info

The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
FCA's Odey Decision Is Wake-Up Call For Financial Firms

The Financial Conduct Authority recently banned hedge fund boss Crispin Odey from working in financial services, underscoring the critical importance the regulator places on whether individuals are fit and proper to perform regulated activities, and the connection between nonfinancial misconduct and the integrity of the financial markets, say lawyers at Pallas Partners.