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 29, 2025
Accountants Deny Negligence In Kebab Biz Share Deal Fraud

An accountancy firm has denied negligently accepting a fraudulently signed share transfer form that a business director claims cost him his stake in a meat supplier of almost £2.5 million ($3.4 million), arguing that there was "nothing obviously suspicious" about the document.
May 29, 2025
HSBC Denies Blame For £12M Transfers Tied To Alleged Fraud

HSBC has accused a corporate client of attempting to hold the bank liable for an alleged fraud committed by the company, denying that it failed to question and block more than £12 million ($16.1 million) in allegedly fraudulent account transfers.
May 29, 2025
NCA Charges UK Businessman In Malawi Bribery Case

A British businessman was expected to appear at a London criminal court on charges that he sent corrupt payments to Malawi's former vice-president and figures including the country's ex-solicitor general, according to court lists that have now been made public.
May 29, 2025
FCA To Update Regulatory Directions For UK Finance Firms

The Financial Conduct Authority said Thursday that it will amend and update approximately 11,000 legal requirements, obligations and restrictions for more than 9,000 financial firms in the U.K.
May 29, 2025
SRA Ordered To Fix Failures After Axiom Ince Collapse

The Solicitors Regulation Authority must improve how it identifies risks to consumers and strengthen regulation of client money to avoid a repeat of failings in its handling of the collapse of Axiom Ince Ltd., the legal industry's oversight watchdog said Thursday.
May 29, 2025
Ex-NCA Employee To Face Trial On Job Fraud Charges In 2027

A former official at the National Crime Agency denied fraud charges at a criminal court Thursday, which included allegations that he lied about being an analyst for a U.K. intelligence agency when he applied for a job at Britain's maritime security service.
May 28, 2025
One Convicted For Role In €195M VAT Fraud Scheme

A Munich court convicted a man for his role in a value-added tax fraud scheme that spanned 17 countries and caused an estimated €195 million ($220 million) in damages, the European Public Prosecutor's Office said Wednesday.
May 28, 2025
Online Scams Surge With £1B Stolen Through Fraud In 2024

Criminals stole £1.17 billion ($1.6 billion) through fraud in 2024, largely through a 22 percent rise in customers being duped into disclosing online login passcodes, banking body UK Finance revealed Wednesday.
May 28, 2025
SFO Charges Airline Parts Boss With Fraud Over Fake Parts

The Serious Fraud Office charged the director of a company based in Britain with fraud on Wednesday, alleging that he had falsified documents for the sale of engine parts to major airlines around the world.
May 28, 2025
Ex-Russian Politician Appeals UK's First Sanctions Conviction

A former Russian politician who became the first person to be found guilty of breaching the U.K.'s sanctions regime is challenging his conviction and sentence, his lawyer confirmed Wednesday.
May 28, 2025
Social Media Giants Urged To Curb Unauthorized Finance Ads

The European Union's financial markets watchdog urged the world's major social media and online companies on Wednesday to stop promoting unauthorized financial services on their platforms.
May 28, 2025
New FCA Crypto Rules Focus On Stablecoin Value, Security

The Financial Conduct Authority on Wednesday proposed rules aimed at ensuring stablecoins hold their value and firms keep cryptocurrencies safe, as the U.K. progresses on its plans to oversee regulation of the risky assets.
May 28, 2025
Ex-Judge Launches £25B Ad-Price Action Against Google

Google is facing a new £25 billion ($33.7 billion) class action in the U.K. brought by a former deputy High Court judge on behalf of advertisers, alleging that the technology giant abused its dominant position in online search advertising.
May 28, 2025
Thames Water Fined Record £123M Over Sewage, Dividends

Thames Water was fined £122.7 million ($165.8 million) on Wednesday by the water regulator for breaching rules governing its failed wastewater management and unjustified payment of dividends — the latest upset for the beleaguered utility company.
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 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.

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

EU Watchdog's ESG Dashboard Raises Transparency Bar

The European Banking Authority’s recently introduced ESG dashboard is a key tool in aligning financial institutions with the European Union's sustainability policies, and fundamentally alters the risk environment by transitioning climate-related data from a compliance afterthought to a core component of strategic decision-making, says Kristýna Tupá at Schönherr.
Whistleblower Rewards May Soon Materialize In UK

Recent government and Serious Fraud Office announcements indicate that the U.K.’s long-standing aversion to rewarding whistleblowers is reversing, underlining the importance for organizations to consider managing misconduct risk and prepare for a potentially significant uptick in tipoffs, says Tom Grodecki at Cadwalader.
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.
A Shifting Landscape Of 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.