Corporate Crime & Compliance UK

  • April 29, 2025

    UK Treasury Appoints 4 New FCA Board Members

    HM Treasury said Tuesday it has appointed four new members to the board of the Financial Conduct Authority.

  • April 29, 2025

    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. 

  • April 29, 2025

    EU Prosecutors Accuse Audit Body Of Blocking Fraud Probe

    European Union prosecutors have sued the European Court of Auditors for blocking a request for several of the court's members of staff to testify in a criminal investigation launched in the wake of allegations of fraud at the top of the audit institution.

  • April 28, 2025

    UK Seeks Input On Replacing Diverted Profits Tax

    The U.K. government is holding a consultation on plans to replace the country's diverted profits tax by changing corporation tax and transfer pricing rules, HM Revenue & Customs said Monday.

  • April 28, 2025

    UK Targets Fake Immigration Lawyers With £15K Fines

    Fake lawyers fraudulently posing as immigration advisers will face fines of up to £15,000 ($20,100) under new powers to toughen up the U.K.'s asylum system against rogue law firms, the Home Office has said.

  • April 28, 2025

    Construction Bribery Ring Professionals Get 12.5 Yrs In Prison

    A judge sentenced a demolition company chief and three construction site managers to a combined 12-and-a-half years in prison on Monday after the boss was found guilty of giving kickbacks to the managers in exchange for them subcontracting his staff.

  • April 28, 2025

    SFO Spent £4.7M On Abandoned Rio Tinto Corruption Probe

    The Serious Fraud Office spent nearly £4.7 million ($6.28 million) investigating allegations Anglo-Australian miner Rio Tinto entered into corrupt contracts in Africa before shutting down the probe in 2023, the agency has revealed.

  • April 28, 2025

    Watchdog Warns Of Significant Errors In Digital Reporting

    The accounting watchdog warned Monday that some companies listed on the London Stock Exchange are making significant errors in their digital annual reports through incorrect tagging.

  • April 28, 2025

    Court Compels Disclosure In £500K Phone Crypto-Theft Case

    The victim of a phone-snatching in London has secured a court order compelling four companies offering digital asset exchange services to disclose documents tied to an alleged fraud perpetrated against them after £500,000 ($667,000) in cryptocurrency was drained from his account.

  • April 25, 2025

    Belgian Data Watchdog Blocks FATCA Transfers To US

    Belgium's data privacy watchdog ruled that a government agency's transfers of personal data to the U.S. tax authority as part of the Foreign Account Tax Compliance Act is prohibited under European law.

  • April 25, 2025

    Deripaska Sues To Uncover Source Of Allegedly Forged Report

    A Russian oligarch has asked a London court to order a business intelligence company to divulge the source of an allegedly forged report used to back up a former business partner's bid to challenge a $95 million arbitration award.

  • April 25, 2025

    Nightclub Owner And Accountant Guilty Of £4.9M Tax Fraud

    A court has convicted a nightclub owner and his accountant of evading £4.9 million ($6.5 million) in tax, with the venue boss spending the money on luxury cars and a yacht, the U.K. tax authority said Friday.

  • April 25, 2025

    Tycoon's Son Loses Challenge To £3M Howard Kennedy Bill

    The son of a diamond tycoon accused of swindling $1 billion from banks lost his bid for a court-ordered review of his legal bills from Howard Kennedy on Friday as the High Court said he knew of the climbing costs linked to his international fraud case.

  • April 25, 2025

    UK Law, Accounting Bodies Queried On Poor SAR Records

    The anti-money laundering unit of the Financial Conduct Authority has told legal and accounting professional bodies to justify their failure to check the quality of suspicious activity reports by their member firms.

  • April 25, 2025

    Fess Up, Or Wait And See? SFO Policy Shift Stirs DPA Debate

    The Serious Fraud Office's "cast iron" promise that companies self-reporting wrongdoing will duck prosecution could lead to a new wave of settlements — but only if other controversial reforms push businesses to the negotiation table, lawyers say.

  • April 25, 2025

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

    This past week in London has seen pub operator Stonegate sue insurance broker Marsh, a human rights lawyer sued for defamation by Russian businessman Ovik Mkrtchyan, and British toy-maker The Character Group reignite an employment dispute with a former finance director. Here, Law360 looks at these and other new claims in the U.K.

  • April 24, 2025

    Ofcom Unveils Final Child Safety Rules For Tech Cos.

    The U.K. communications regulator finalized new rules Thursday to protect children's safety online, compelling technology companies to introduce "highly effective" age checks or face fines or nationwide bans.

  • April 24, 2025

    Marine Co. Claims Axis Bank Misled It Into $21M Loan Scheme

    A marine energy company has sued the Dubai branch of India's Axis Bank for $41.7 million, alleging that the lender misled it into participating in a loan to a shipping company secured against ships that were later sold without its knowledge.

  • April 24, 2025

    Lloyd Firth On SFO's New Energy And UK Regulatory Shift

    Lloyd Firth comes from a long line of blue-collar workers from the north of England. Bricklayers, mostly, but also coal miners and gas blowers from Barnsley's furnaces. Firth, whose father and brother still work in the trade, read books instead.

  • April 24, 2025

    Digital Pharma Biz Sues Lender Over CEO Loan Collusion

    A digital pharmacy company has accused a small business lender of knowingly working with its former CEO to funnel huge unauthorized loans into the firm, ignoring clear signs that the executive was acting dishonestly and beyond his powers.

  • April 24, 2025

    Gov't Fairly Fired Anti-Fraud Officer Over Misconduct

    An employment tribunal has found that the Department for Work and Pensions was right to fire a counterfraud officer for inappropriately accessing records on its customer information system because it was not the first time she had done so.

  • April 24, 2025

    Canfield Law Faces £4M Claim Over Alleged Property Fraud

    A Hong Kong businessman has accused a London law firm in a High Court claim of failing to ask questions in connection with a high-value property deal, which he says facilitated a fraud that cost him more than £4 million ($5.3 million).

  • April 24, 2025

    Legal Exec Banned For Misappropriating £219K Client Funds

    A legal executive has been disqualified and banned from working at law firms after the English solicitors' watchdog concluded that he had misappropriated £219,000 ($292,000) from a dead client's estate.

  • April 23, 2025

    SFO Updates Rules To Cut Deals With Firms That Come Clean

    The Serious Fraud Office said on Thursday that it is ready to cut deals with companies that come clean about their suspected crimes, part of a major policy change designed to boost the flagging number of corporate settlements.

  • April 23, 2025

    Rainer Hughes Founder Accused Of Laundering Fraud Funds

    Prosecutors accused a founder of Rainer Hughes LLP of laundering the proceeds of a multimillion-pound alcohol tax fraud at the beginning of a criminal trial in London on Wednesday.

Expert Analysis

  • M&A Takeaways From 1st EU Foreign Subsidies Merger Ruling

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    The European Commission’s recent decision on the merger between e& and PFF Telecom is the first to approve a transaction subject to commitments under the Foreign Subsidies Regulation, serving as a helpful guide by confirming that behavioral measures ring-fencing EU activities from the potential effect of third-country subsidies are acceptable, say lawyers at Cleary.

  • What New Int'l Treaty Means For Global AI Regulation

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    Lawyers at Bird & Bird consider how global artificial intelligence regulation will be affected by the first international AI treaty recently signed by the U.S., EU and U.K., as well as its implications for business and several issues that stakeholders should be aware of.

  • Factors Driving EU Competition Policy For The Next 5 Years

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    Teresa Ribera Rodríguez’s recent nomination as the new European Union commissioner for competition prompts questions about policy and enforcement, with goals to enhance competition in business, implement stronger and faster enforcement, and promote and fund decarbonization likely in her sights during a five-year term, say lawyers at Linklaters.

  • 2 Highlights From Labour's Notable Employment Rights Bill

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    The Labour government’s recently unveiled Employment Rights Bill marks the start of a generational shift in U.K. employment law, and its updates to unfair dismissal rights and restrictions on fire-and-rehire tactics are of particular note, say lawyers at Covington.

  • How Energy Scheme Is Affecting Large Co. Fund Investment

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    The latest phase of the Department of Energy and Climate Change's Energy Savings Opportunity Scheme implicates funds with investments in large companies by establishing significant and complex changes to the reporting cycle for mandatory assessments, say lawyers at Macfarlanes.

  • How Companies House Enforcement Powers Are Growing

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    Companies House's recently increased ability to assess what material is submitted to the U.K. register of companies, and to proportionately enforce where violations have occurred, may require some degree of cultural shift within many companies, say lawyers at Greenberg Traurig.

  • How New Sanctions Office Will Affect UK Trade Landscape

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    The recent launch of the Office of Trade Sanctions Implementation will help to create a more comprehensive civil enforcement terrain, but the potential for multiple investigations means businesses should reassess their systems to ensure they do not inadvertently incur civil liability, says Julia Pearce at Robertson Pugh.

  • FCA Savings Update Focuses On Good Customer Outcomes

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    The Financial Conduct Authority’s recent cash savings update emphasizes its expectations of firms to deliver fair value to consumers by documenting the rationale for actions at each stage, considering customer communications and demonstrating that potential harms are acted upon, say Matt Handfield, Charlotte Rendle and Caroline Hunter-Yeats at Simmons & Simmons.

  • Opinion

    Why The UK Gov't Should Commit To An Anti-SLAPP Law

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    Recent libel cases against journalists demonstrate how the English court system can be potentially misused through strategic lawsuits against public participation, underscoring the need for a robust statutory mechanism for early dismissal of unmeritorious claims, says Nadia Tymkiw at RPC.

  • 5 Takeaways From UK Justices' Arbitration Jurisdiction Ruling

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    The U.K. Supreme Court's recent judgment in UniCredit Bank v. RusChemAlliance, upholding an injunction against a lawsuit that attempted to shift arbitration away from a contractually designated venue, provides helpful guidance on when such injunctions may be available, say attorneys at Fladgate.

  • FCA's Broad Proposals Aim To Protect Customer Funds

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    The Financial Conduct Authority’s proposed changes to payments firms’ safeguarding requirements, with enhanced recordkeeping and fund segregation, seek to bolster existing regulatory provisions, but by introducing a statutory trust concept to cover customers’ assets, represent a set of onerous rules, says Matt Hancock at Greenberg Traurig.

  • Complying With Growing EU Supply Chain Mandates

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    A significant volume of recent European Union legislative developments demonstrate a focus on supply chain transparency, so organizations must remain vigilant about potential human rights and environmental abuses in their supply chain and make a plan to mitigate compliance risks, say lawyers at Weil.

  • Takeaways From Upcoming Payment Fraud Delay Legislation

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    Lawyers at Hogan Lovells discuss what to know about new legislation that will allow payment service providers to delay payments when third-party fraud is suspected, and share pointers for providers to consider ahead of the Oct. 30 effective date.

  • What New EU Packaging Regulation Will Mean For Companies

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    The forthcoming Packaging and Packaging Waste Regulation aims to regulate the entire life cycle of products from design to end-of-life waste, and will present particularly challenging deadlines for organizations, especially regarding recyclability and substances of concern, say Marcus Navin-Jones and Ward Overlaet at Crowell & Moring.

  • Modernizing UK Trade Settlement Standard: The Road Ahead

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    Andrew Tsang and Tom Bacon at BCLP consider the rationale and challenges of a potential U.K. trade settlement acceleration, part of an initiative to modernize the financial market infrastructure, and suggest that incorporating distributed ledger technology as a synchronized recording system would facilitate the move.

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