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Corporate Crime & Compliance UK
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March 21, 2025
Spanish Lottery Co. Accused Of Tax Insurance Market Breach
Spain's competition authority said Friday it is investigating a lottery company on suspicion of suppressing the marketing of tax insurance coverage for lottery winners.
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March 21, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a sub-postmaster sue the Post Office and Fujitsu, Russian insurer Ingosstrakh hit the Financial Times with a defamation claim, and Britvic-owned Robinsons Soft Drinks file a passing off claim against Aldi. Here, Law360 looks at these and other new claims in the U.K.
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March 21, 2025
IT Manager Claims FCA Fired Him For Blowing Whistle On FOI
A former IT manager told a tribunal on Friday that the financial watchdog fired him unfairly for sending emails to his personal account, saying he did this to blow the whistle on the "unlawful administration" of FOI requests at the regulator.
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March 21, 2025
UK Sanctions Update Shows £25B In Frozen Russian Assets
Britain has frozen more than £25 billion ($32 billion) of Russian assets since the country invaded Ukraine in February 2022, the government said in an update on Friday as it released the latest figures from the Office of Financial Sanctions Implementation.
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March 21, 2025
Property Boss' Brother Faces Prison In Fraud Recovery Case
A London court has ruled that the brother of a property tycoon who funneled £13 million ($16 million) out of his family business will face a year in prison if he continues to withhold information about the family's assets to frustrate attempts to recover the money.
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March 21, 2025
Sports Broadcasters Fined £4M Over Freelancer Pay Collusion
Four of the U.K.'s biggest sports production and broadcasting companies were fined more than £4 million ($5.2 million) for colluding on pay rates for freelance workers, the Competition and Markets Authority said Friday.
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March 28, 2025
O'Melveny Rehires Antitrust Partner From Gibson Dunn
O'Melveny & Myers LLP has rehired Stephane Frank as a partner in its antitrust and competition group after he served a five-year stint at Gibson Dunn LLP, as the firm continues to attract what it describes as "boomerang laterals" back to its practice.
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March 20, 2025
Scottish Police Clear Nicola Sturgeon In SNP Finance Probe
Former Scottish First Minister Nicola Sturgeon has been cleared of any wrongdoing after Scottish police announced Thursday that it was no longer investigating her over the finances of the ruling Scottish National Party.
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March 20, 2025
Disclosure Review Calls For AI To 'Fight Fire With Fire'
Judges, investigators, defendants and lawyers must embrace advanced technology and "fight fire with fire" to ease the pressure digital evidence places on prosecutors to make disclosures in serious economic crime cases, a government-backed review concluded Thursday.
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March 20, 2025
Gallagher Hits Back At Former CEO's £1.5M Claim For Losses
Arthur J. Gallagher & Co.'s benefits and consulting arm denies that it owes a former chief executive of a company it acquired £1.55 million ($2 million) on his claim that it failed to manage the business correctly, as legal wrangling over the acquisition continues.
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March 20, 2025
Sidhu Ban Shows Tougher Takes On Sexual Misconduct
The disbarment of the former head of the Criminal Bar Association is the latest example of professional disciplinary tribunals increasingly handing down the harshest penalties for sexual misconduct, even when the behavior in question does not cross the line into criminal conduct.
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March 20, 2025
Prudential's £9.3M Fees To Silverfleet Taxable, HMRC Argues
Prudential's payments of £9.3 million ($12 million) to an investment firm are taxable even though the fees were for services the firm carried out when the two companies were part of the same group, the tax authority's counsel told the U.K. Supreme Court on Thursday.
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March 20, 2025
UK Joins France, Switzerland In New Anti-Corruption Force
The fraud watchdogs of the U.K., France and Switzerland said Thursday that they have set up a new joint task force to promote collaboration on investigations into international bribery and corruption.
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March 20, 2025
MoD Can't Dodge Army Nurse's Whistleblowing Claim
The U.K. Ministry of Defence can't escape a whistleblowing claim from a nurse stationed at a military base in Cyprus, after a tribunal ruled it had authority to hear her allegation because the territory's own tribunal system offers no protection for whistleblowers.
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March 20, 2025
Audit Watchdog Pledges Support For Gov't Growth Priority
The audit watchdog said Thursday it will adjust priorities to support U.K. economic growth better in its new three-year strategy, in line with government priorities.
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March 20, 2025
Gov't Growth Priority Forces FCA To Reassess Consumer Risk
Moves by the U.K. government to force the financial watchdog to back economic growth with more relaxed regulatory controls could expose consumers to harm, leaving regulators with no clear idea of what risk levels would be politically tolerable.
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March 20, 2025
Metal Exchange Fined £9.2M For Failures In 2022 Nickel Spike
The Financial Conduct Authority said Thursday that it has fined the London Metal Exchange £9.2 million ($11.9 million) for failures in 2022 that "undermined the orderliness" of the market and led to a sudden surge in nickel prices.
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March 20, 2025
Herbert Smith Fined £465K For Violating Russia Sanctions
The U.K.'s sanctions enforcer handed a fine of £465,000 ($600,000) to Herbert Smith Freehills CIS LLP on Thursday for breaching financial restrictions imposed following the invasion of Ukraine after finding that its Moscow office was responsible for paying out almost £4 million to three major Russian banks.
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March 19, 2025
Ex-Postmaster Sues Post Office, Fujitsu Over Horizon Scandal
A former sub-postmaster has become the first person to bring legal action against The Post Office and Fujitsu for withholding evidence about faulty software in the Horizon IT system, his lawyers at Simons Muirhead Burton LLP said Wednesday.
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March 19, 2025
Swiss Bank Accused Of Ignoring $1B Kuwaiti Bribery Scheme
A Swiss bank turned a blind eye to a scheme of corrupt payments orchestrated by the former director of Kuwait's pensions authority by failing to make reasonable inquiries into suspicious accounts, lawyers for the body told a court on Wednesday.
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March 19, 2025
Ex-CBA Chief Jo Sidhu Disbarred For Sexual Misconduct
A disciplinary tribunal disbarred the former head of the Criminal Bar Association, Jo Sidhu KC, on Wednesday after concluding that he was guilty of sexual misconduct toward a young aspiring lawyer who he invited to his hotel room during a mini-pupillage.
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March 19, 2025
Disclosure Woes Sink £13M Fraud Trial Against Film Execs
Prosecutors have abandoned a decade-long fraud case in which four former managers at a film production company were accused of cheating taxpayers out of £13 million ($17 million) because of insurmountable disclosure failures that sunk the case mid-trial.
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March 18, 2025
Glencore Probed In Jersey For Suspected Corruption
Glencore is under investigation by Jersey authorities over suspected corruption and money laundering, the mining giant said in its 2024 annual report published Tuesday.
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March 18, 2025
Russian Used Family To Evade Sanctions, Prosecutors Say
A former Russian politician appointed by President Vladimir Putin enlisted his family to dodge U.K. sanctions in order to open a bank account, buy a Mercedes and send his children to private school, prosecutors alleged at trial in London on Tuesday.
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March 18, 2025
EU To Push On With OECD Tax Plan, Official Says
The European Union remains committed to the two-pillar international tax plan designed by the Organization for Economic Cooperation and Development despite U.S. opposition, the EU's tax commissioner said Tuesday.
Expert Analysis
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Key Takeaways From Proposed EU Anticorruption Directive
The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.
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Implications Of EU Network Directive For Data Center Owners
With the October implementation deadline of the EU’s new cybersecurity regime under the Network Systems Directive fast approaching, data center owners and operators need to consider compliance steps, and U.K. companies providing services in the EU should take note, say lawyers at Bird & Bird.
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New EU Guidelines Provide Insights On Global AI Regulation
The European Data Protection Supervisor’s first guidelines on artificial intelligence only apply to governmental bodies, but together with the EU AI Act they demonstrate a strong and prescriptive policy, and offer a glimpse into what could be the next phase in world AI regulation, says Kevin Benedicto at Redgrave.
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Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.
The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.
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Keeping Up With Carbon Capture Policy In The US And EU
Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.
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How AI Treaty Will Further Global Governance Cooperation
The EU’s recently adopted treaty on artificial intelligence represents a significant step toward global cooperation in AI governance in emphasizing human rights obligations, although additional guidance and clarity would be beneficial to minimize varied interpretations at national level, say lawyers at Eversheds Sutherland.
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EU Investor-State Dispute Transparency Rules: Key Points
The European Union's recent vote to embrace greater transparency for investor-state arbitration will make managing newly public information more complex for all parties in a dispute — so it is important for stakeholders to understand the risks and opportunities involved, say Philip Hall, Tara Flores and Charles McKeon at Thorndon Partners.
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How Regulation Of Tech Providers Is Breaking New Ground
The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.
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Takeaways From EU's Initial Findings On Apple's App Store
A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.
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Why Trustees Should Take Note Of Charity Code Consultation
The Charity Governance Code Steering Group's recently launched governance code consultation is unlikely to result in a radical overhaul, but with the bigger issue being awareness and application by smaller underresourced charities, trustees should engage with the process to help shape the next iteration of this valuable tool, says Chris Priestley at Withers.
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What EU Net-Zero Act Will Mean For Tech Manufacturers
Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.
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Complying With EU Commission's Joint Purchasing Rules
One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Tips For Implementing EU Sustainability Reporting Guidance
Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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How CMA's AI Strategic Update Addresses Industry Risks
The Competition and Markets Authority’s recent artificial intelligence strategic update, setting out the regulator’s understanding of AI risks and how it intends to address them, is indicative of its focus on incumbent technology organizations, although future political developments in the U.K. may also shape the CMA's approach, say Christopher Foo and Carol Slattery at Ropes & Gray.
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Labour's 'Fresh Approach' To Tackling Financial Crime
Given newly elected Prime Minister Sir Keir Starmer’s background as a criminal defense lawyer and director of public prosecutions, an administration with strong views on financial crime can be expected, and revenue raising and proceeds of crime recovery are likely to be at the forefront, says Matthew Cowie at Rahman Ravelli.