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Corporate Crime & Compliance UK
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March 13, 2025
Ex-Manager Says Drax Tried To Hide Sustainability Failings
A former public affairs manager at British energy company Drax Power Ltd. told a London tribunal on Thursday that bosses sacked her to try to silence her after she blew the whistle over concerns about alleged sustainability failings.
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March 13, 2025
Prosecutors Charge NCA Officer Over Stolen Bitcoin
The U.K. prosecution agency said on Thursday it had charged a National Crime Agency officer with 15 separate criminal offenses related to the theft of 50 bitcoin, worth nearly £60,000 ($77,623) in 2017.
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March 13, 2025
Watchdog Launches Probe Into EY Audit Of High-Profile Biz
The U.K. accounting watchdog said Thursday that it has kicked off an enforcement investigation into audits conducted by Ernst & Young LLP for a high-profile business.
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March 13, 2025
Russia's Former Deputy PM Loses Bid To Lift EU Sanctions
Russia's former deputy prime minister has failed to end European Union sanctions against him after the European Court of Justice upheld on Thursday the conclusion that he actively supports the Russian government as president of its state investment company VEB.RF.
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March 13, 2025
FCA Charges 5th Person In £3.9M Water Investment Fraud
The Financial Conduct Authority said Thursday that it has charged a fifth individual over a suspected £3.9 million ($5 million) water investment scam.
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March 13, 2025
Failed Sewage CPO Ruling Still Gives Hope For Novel Cases
A recent tribunal decision dismissing mass action worth up to £1.5 billion ($1.9 billion) against major water companies for underreporting pollution shows the limits of bringing competition law claims in highly-regulated sectors while offering hope that novel case theories can succeed.
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March 19, 2025
Constantine Law's New White Collar Partner Brings SFO Edge
The newest partner on Constantine Law Ltd.'s regulatory team, veteran white collar crime lawyer John Milner, is looking forward to helping the consultant-led firm expand its corporate crime capabilities.
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March 12, 2025
Simpson Thacher Fined £300K For AML Compliance Failures
Simpson Thacher & Bartlett LLP was fined £300,000 ($389,0000) by the Solicitors Disciplinary Tribunal on Wednesday for failing to implement measures to lower the risk of money laundering.
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March 12, 2025
UK Enforcers Double Down On Apple Mobile Browser Worries
A new report from British competition enforcers claims that Apple and Google's dominance in mobile operating systems and browsers limits competition and innovation in the United Kingdom, while encouraging regulators to consider imposing pro-competition requirements on the tech giants.
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March 12, 2025
Regulatory Rollback Gathers Pace As Programs Axed
The City watchdog has dropped three of its top regulatory initiatives, responding on Wednesday to industry criticism and government pressure to boost competitiveness and economic growth.
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March 12, 2025
EU Targets US Goods In Response To Trump's Tariffs
The European Commission said Wednesday that it will impose tariffs on American goods imported into the European Union in response to U.S. tariffs placed on EU steel and aluminum exports.
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March 19, 2025
Pierson Ferdinand Hires Former Magistrate From Walkers
Pierson Ferdinand LLP has recruited Daniel Hayward-Hughes, a former magistrate and associate with Walkers, as a junior partner in its international disputes practice as the firm continues to grow its London office a year after its launch.
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March 12, 2025
HMRC To Reward Whistleblowers Who Expose Tax Fraud
Insiders who tip off investigators to serious tax avoidance by large companies and rich elites will be paid a cut of any money the U.K. tax enforcer claws back under a new policy proposed by the government.
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March 12, 2025
Florist Says Ex-CEO Diverted Cash Amid False Fraud Claim
A high-end London florist has sued its former CEO for an estimated £4.1 million ($5.3 million) alleging the businessman diverted its revenue before falsely telling customers that the business was insolvent and committing fraud.
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March 12, 2025
FCA Drops Plan To 'Name And Shame' Firms It Investigates
The Financial Conduct Authority said Wednesday that it has scrapped its proposals to publicly identify companies at an early stage in enforcement investigations as the watchdog responds to widespread resistance from the sector.
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March 12, 2025
Gov't To Scrap UK Payments Watchdog To Boost Growth
The U.K. government has said that it will abolish the payments watchdog as the latest step to reduce the size and complexity of regulatory burdens on business.
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March 12, 2025
UK Watchdogs Drop Diversity And Inclusion Regulation Plans
The financial services watchdogs have walked back plans to introduce new regulations for diversity and inclusion policies, saying on Wednesday that they hope to avoid duplicating existing regulation and legislative guidelines.
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March 11, 2025
AXA Says Santander Was In 'Driving Seat' In £670M PPI Trial
Insurance giant AXA said at the start of a £670 million ($867 million) London trial Tuesday that Santander should compensate it for what it has paid out dealing with claims for missold payment protection insurance because the Spanish bank's subsidiary was "in the driving seat."
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March 11, 2025
EU Council Approves 'Decluttering' Tax Agenda
The Council of the European Union said Tuesday that it has approved the "decluttering" agenda to simplify tax legislation across the bloc and cut red tape to make the system more competitive.
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March 11, 2025
Exec Wins Bid To Challenge Name Disclosure In Bribery Case
A former executive acquitted of bribery won permission Tuesday to attempt to keep their name out of a judgment detailing a bribery settlement with the Serious Fraud Office after a judge ruled he had an "arguable" case that his privacy rights trumped transparency.
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March 11, 2025
Clyde & Co Hires RPC White Collar Quartet
Clyde & Co. LLP said Tuesday that it has recruited Sam Tate, the former head of white-collar crime at Reynolds Porter Chamberlain LLP, as its global head of regulatory and investigations, along with three other RPC hires.
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March 11, 2025
Staley Denies Knowledge Of Epstein's 'Monstrous Activities'
Jes Staley told a tribunal on Tuesday that he would not have maintained a relationship with Jeffrey Epstein if he had known about the disgraced financier's "monstrous" activities.
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March 11, 2025
EU Council Adopts Digital VAT Reform Package
The Council of the European Union said Tuesday that it has adopted reforms to adapt the EU's value-added tax regime to the digital economy.
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March 11, 2025
UK Regulators Seek AI Guidance From Industry
Britain's financial and data regulators have reached out to U.K. trade bodies and business chief executives for guidance on how to provide regulatory certainty on artificial intelligence.
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March 11, 2025
FCA Mulls Customer Redress For Motor Finance Failings
The Financial Conduct Authority said Tuesday that it would probably launch a redress program for providers of car finance to compensate buyers if a review shows widespread failure to comply with requirements on commissions.
Expert Analysis
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Taking Stock Of The Latest Criminal Court Case Statistics
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.
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ICO Data Protection Guidance Offers Clarity On Fining Powers
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.
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Hugh Grant Case Raises Questions About Part 36 Offers
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.
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Investment Security Act Fine-Tune May Help Businesses
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.
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How New FCA Rules Strengthen Borrower Protections
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.
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How Cos. Can Prepare For EU's Forced Labor Regulation
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.
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Opinion
New Property Category Not Needed To Regulate Digital Assets
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.
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FTSE Draft Rules Show Impact Of FCA Listing Reforms
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.
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FCA Strikes A Balance With 'Finfluencer' Guidance
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.
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Pharma Remains A Key Focus Of EU Antitrust Enforcement
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.
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Dissecting Recent Developments Against The Misuse Of NDAs
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.
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What UK Energy Charter Treaty Exit Would Mean For Investors
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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Assessing The FCA Data Study's Response To User Concerns
The Financial Conduct Authority’s recently published report on the supply of wholesale financial data differs from others in its exceptional breadth and analysis of an enormous volume of information, but in its reluctance to address market power or pricing directly, the regulator’s approach is still cautious, say Emma Radcliffe and Greg Dowell at Macfarlanes.
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Uber Payout Offers Employer Lessons On Mitigating Bias
Uber Eats' recent payout to a driver over allegations that the company's facial recognition software was discriminatory sheds light on bias in AI, and offers guidance for employers on how to avoid harming employees through the use of such technology, says Rachel Rigg at Fieldfisher.
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Apple Ruling Offers Morsel Of Certainty On Litigation Funding
An English court's recent decision in Gutmann v. Apple, finding that a litigation funder could be paid via a damages award, offers a piece of guidance on the permissibility of such agreement terms amid the ongoing uncertainty around funded group litigation in the U.K., says Mohsin Patel at Factor Risk Management.