Corporate Crime & Compliance UK

  • February 27, 2025

    SFO Abandons Canary Wharf Move To Bolster Operations

    The Serious Fraud Office has dropped plans to move its headquarters from central London to Canary Wharf to reinvest the money into its case work, including a recently created asset confiscation unit.

  • February 27, 2025

    FCA Abolishes Requirement For Consumer Duty Champions

    The Financial Conduct Authority said Thursday it has abolished the requirement for firms to have Consumer Duty board champions and will implement around 50 other growth proposals shortly.

  • February 27, 2025

    SRA Chief Exec To Retire Amid Torrid Times For Watchdog

    The solicitors' watchdog said Thursday that chief executive Paul Philip will retire after more than a decade in the job, amid a turbulent period for the watchdog that has sparked calls for changes at the top.

  • February 26, 2025

    Law Commission Unveils Plan To Overhaul Criminal Appeals

    The criminal appeals system in England and Wales needs to be reformed to allow the wrongfully convicted to successfully challenge their convictions, an independent legal body recommended on Thursday.

  • February 26, 2025

    Billionaire Claims HMRC Failed To Hold Lawful Tax Inquiry

    HM Revenue & Customs failed to lawfully notify the right people in its investigation of tax returns for two partnerships, counsel for a hedge fund billionaire told a London court Wednesday.

  • February 26, 2025

    Law Firm Denies Botching Advice On Failed Flat Purchases

    A law firm has denied giving negligent advice to investors regarding their failed purchases of flats in a property development, telling a London court that they helped ensure their own downfall by not exploring how risky the deals were.

  • February 26, 2025

    3 Fraud Reforms You Might Have Missed In The Crime Bill

    Buried in legislation designed to crack down on phone thieves and anti-social behavior in the government's new crime bill are a range of reforms intended to strengthen the hand of prosecutors as they fight economic crime.

  • February 26, 2025

    Ex-Pupils Pursue Group Claim Against Infected Blood School

    A senior judge apologized on Wednesday to former pupils of a school at the center of an infected blood scandal over the technical nature of a court hearing to decide whether a group litigation order can be granted in a claim for damages.

  • February 26, 2025

    Axiom Ince Crash Sparks Tougher SRA Action Against Firms

    The collapse of Axiom Ince Ltd. has "spurred" the solicitors' watchdog into taking more action against law firms over suspected dishonesty and financial misconduct, according to data published on Wednesday by accountants Hazlewoods LLP.

  • February 26, 2025

    Lawyer Suspended For Improper Use Of Client Account

    A City solicitor who was convicted in 2023 for tipping off a client about an anti-money laundering investigation by the Serious Fraud Office has been suspended by a tribunal for improper use of a client account.

  • February 25, 2025

    Ex-Allianz Exec Avoids Prison As Massive Fraud Case Wraps

    A Manhattan federal judge on Tuesday allowed a former fund executive from New Jersey to avoid prison for lying to clients of Allianz's U.S. unit, citing his cooperation as the government investigated a fraud that cost the German finance giant $6 billion.

  • February 25, 2025

    Austrian Bankers' Extradition Bogged Down Over Toilet Space

    An English court has temporarily barred the extradition of an Austrian banker to face money laundering charges in the U.S. over a Brazilian corruption scandal, saying on Tuesday it wanted assurances that his cell would meet minimum space requirements — excluding the toilet.

  • February 25, 2025

    BBC Admits Falling Short On Misconduct Claims Against DJ

    The BBC apologized on Tuesday for its failure to address a pattern of behavior by former radio DJ Tim Westwood after an investigation found that it had "missed opportunities" to act on concerns about his conduct, including evidence of bullying and misogynistic behavior.

  • February 25, 2025

    Apple Exploited App Market, Developers Say In £1.5B Trial

    Apple was accused Tuesday in a £1.5 billion ($1.9 billion) London competition trial of charging app developers excessively high commissions even when they willingly agreed to pay them, in closing arguments of the first U.K. class action trial against a Big Tech company.

  • February 25, 2025

    Liquidators Bid To Reinstate £102M Award In Hotel Fraud Case

    Britain's highest court was urged on Tuesday to find that a businessman should be ordered to pay £102 million ($129 million) in compensation after he helped a property investor spend secret profits generated from the sale of three London hotels.

  • February 25, 2025

    Audit Watchdog Tightens UK Accounting Guidance

    The audit watchdog published on Tuesday its finalized guidance to help companies asses whether it is a "going concern," which it said will broaden the scope of its advice to reflect reporting changes and high-profile corporate collapses.

  • February 24, 2025

    Investor Settles In $2.1B Danish Tax Fraud Case

    A U.S. investor who was among those accused by Denmark's tax agency of participating in a $2.1 billion tax fraud scheme related to fraudulently claiming refunds on tax withheld from stock dividends has reached a settlement, according to New York federal court documents filed Monday.

  • February 24, 2025

    Denmark Argues Misrepresentation Led To £1.4B Tax Refunds

    Denmark's tax authority told the High Court of Justice on Monday that it would not have paid out billions in refunds to a British trader and others accused of involvement in a fraudulent trading scheme had they not submitted forms purporting to show eligibility for tax refunds.

  • February 24, 2025

    Insider Traders Were 'Mini Cash Laundromat,' FCA Tells Jury

    An alleged insider dealing syndicate that included a former analyst at global asset management firm Janus Henderson operated a "mini-cash laundromat," the Financial Conduct Authority told a London court on Monday.

  • February 24, 2025

    FCA Advice Review Findings Staves Off Mass Redress Fears

    The Financial Conduct Authority said Monday in the vast majority of cases, financial advisers have carried out suitability reviews for their clients, in a finding which experts say makes fears of a "worst-case scenario" redress program less likely to materialize.

  • February 24, 2025

    Ex-WealthTek Partner Denies Defrauding Clients Out Of £64M

    A former partner at wealth management firm WealthTek LLP denied accusations by the Financial Conduct Authority that he defrauded clients out of more than £64 million ($80.8 million) when he appeared at a London criminal court on Monday.

  • February 24, 2025

    Ex-Reform UK Wales Chief Accused Of Taking Russian Bribes

    The former leader of Reform UK in Wales made an initial appearance at a London court on Monday over allegations that he received bribes in exchange for supporting Russian causes in speeches when he was a Member of the European Parliament. 

  • February 21, 2025

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

    This past week in London has seen Russell Brand sued by publishing house Macmillan, administrators of London Capital & Finance sue the collapsed firm's former lawyers Buss Murton Law LLP, Tesco bring a competition claim against fish suppliers, and former Entain execs sue Addleshaw Goddard over privileged information. Here, Law360 looks at these and other new claims in the U.K.

  • February 21, 2025

    Off The Bench: White House Hosts PGA Tour-LIV Golf Summit

    In this week's Off The Bench, the two former rival pro golf tours join the president to discuss their long-delayed combination, several NBA teams support a bid for the U.S. Supreme Court to keep copyright claims in check, and prosecutors charge Chilean nationals with robbing the homes of high-profile athletes.

  • February 21, 2025

    Oil Co. Boss Claims $119M UAE Judgment Is Fraudulent

    An oil company boss has denied owing BNP Paribas more than 436 million United Arab Emirates dirham ($119 million) under an Emirati court judgment, claiming the case was "fraudulently concealed" to prevent him from defending it.

Expert Analysis

  • What Can Be Learned From CMA's Green Claims Investigation

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    The Competition and Markets Authority's recent investigation into retailers' allegedly misleading environmental claims demonstrates that all consumer-facing businesses must exercise caution and ensure their green credentials are genuine, say Charlotte Kong and Stephen Sidkin at Fox Williams.

  • The Art Of Corporate Apologies: Crafting An Effective Strategy

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    Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.

  • AI Tools Could Enhance UK Gov't Public Services Strategy

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    The government’s recently announced intention to pilot artificial intelligence tools in routine policy work is part of a wider strategy to revolutionize the delivery of public services, and could improve productivity and create efficiencies, provided it is mindful of the potential risks involved, say attorneys at Akin.

  • Taking Stock Of The Latest Criminal Court Case Statistics

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    The latest quarterly statistics on the type and volume of cases processed through the criminal court illustrate the severity of the case backlog, highlighting the need for urgent and effective investment in the system, say Ernest Aduwa and Jessica Sarwat at Stokoe Partnership.

  • ICO Data Protection Guidance Offers Clarity On Fining Powers

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    New guidance from the Information Commissioners' Office is designed to offer transparency about its fining powers, and, combined with the office's wide-ranging enforcement authority, clearly intends to ensure breaching companies concentrate on the external harm they cause and not only internal changes, say Robert Allen and Amelia Handoll-Clark at Simmons & Simmons.

  • Hugh Grant Case Raises Questions About Part 36 Offers

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    Actor Hugh Grant's recent decision to settle his privacy suit by accepting a so-called Part 36 offer from News Group — to avoid paying a larger sum in legal costs by proceeding to trial — illustrates how this legal mechanism can be used by parties to force settlements, raising questions about its tactical use and fairness, says Colin Campbell at Kain Knight.

  • Investment Security Act Fine-Tune May Help Businesses

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    Although the government’s recent response to feedback on the National Security and Investment Act regime makes it clear that its approach is one of fine-tuning and substantial reforms will have to wait, there is still room to ease the burden on businesses by issuing guidance and refining the terms of mandatory area definitions, say lawyers at Linklaters.

  • How New FCA Rules Strengthen Borrower Protections

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    The Financial Conduct Authority’s recently published final rules, aimed at strengthening protections for borrowers in financial difficulty by regularizing good practices across the industry, put its previous guidance on a permanent footing and send a clear message to firms that this issue remains a regulatory priority, say James Black, Julie Patient and Mark Aengenheister at Hogan Lovells.

  • How Cos. Can Prepare For EU's Forced Labor Regulation

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    Before a new European Union regulation takes effect banning products made with forced labor from the internal market, economic operators will need to get their supply chain compliance functions ready, familiarizing themselves with international standards and case law, say Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring.

  • Opinion

    New Property Category Not Needed To Regulate Digital Assets

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    The U.K. Law Commission's exploration of whether to create a third category of property for digital assets is derived from a misreading of historical case law, and would not be helpful in resolving any questions surrounding digital assets, says Duncan Sheehan at the University of Leeds.

  • FTSE Draft Rules Show Impact Of FCA Listing Reforms

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    FTSE Russell’s recently published provisional rule changes represent a much-awaited indication of its response to the U.K. Financial Conduct Authority’s proposed listing reforms, providing a level of certainty that will assist issuers and advisers in preparing for the implementation of the regime, say lawyers at Davis Polk.

  • FCA Strikes A Balance With 'Finfluencer' Guidance

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    With financial firms leveraging social media to engage with a broader audience, the Financial Conduct Authority’s recent "finfluencer" guidance signals a recognition of the imperative to adapt regulatory frameworks while maintaining a firm commitment to consumer protection, say David Allinson and Damien O'Malley at RPC.

  • Pharma Remains A Key Focus Of EU Antitrust Enforcement

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    The recently published European Commission report on pharmaceutical sector competition law illustrates that effective enforcement of EU rules remains a matter of high priority for EU and national authorities, say lawyers at Dechert.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What UK Energy Charter Treaty Exit Would Mean For Investors

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    While the U.K.'s recent announcement that it intends to withdraw from the Energy Charter Treaty is a bold political signal, investor protections will remain in place for a significant period of time, ensuring that an element of certainty and business continuity will remain, say Karel Daele and Jessica Thomas at Taylor Wessing.

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