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Corporate Crime & Compliance UK
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June 03, 2025
Lawyer Given Suspended Sentence In Germany Over Cum-Ex
A business lawyer who was partly responsible for running a €428 million ($488 million) tax fraud scheme was issued a suspended sentence of almost two years, according to a verdict Tuesday in a Bonn court.
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June 03, 2025
HS2 To Pay £319K Over Whistleblower's Exclusion
The company behind high-speed rail project HS2 has agreed to pay a former analyst more than £319,000 ($431,500) after he accused the company of excluding him from two roles following his warning that cost forecasts were being manipulated to secure funding.
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June 03, 2025
New FCA Enforcement Guide Revises Rules On Case Publicity
The Financial Conduct Authority on Tuesday released its revised enforcement guide, setting out additional circumstances when it may publicize investigations.
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June 03, 2025
Vera Baird KC To Lead CCRC Amid Calls For Reform
Vera Baird KC will take over as the interim head of the troubled government body responsible for investigating miscarriages of justice, filling a role that has been vacant since January, the Ministry of Justice revealed Tuesday.
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June 03, 2025
NMC Health Fraud Was 'Systematic,' Administrator Testifies
An NMC Health administrator on Tuesday said that the healthcare group's financial statements were "structured to conceal" the group's real financial position including $3.8 billion of unreported debt, as he testified during the London trial against the group's auditors, EY.
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June 03, 2025
Ex-Hedge Fund Analyst Driven By Greed, FCA Tells Jurors
A former hedge fund analyst roped his sister, his best friend and the best friend's girlfriend into a "rigged" insider trading scheme from their small flats during the COVID-19 pandemic for a "very old" yet "very simple" reason, prosecutors told jurors in London on Tuesday — "greed."
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June 03, 2025
SFO Launches Probe Into Local Council Solar Bond Fraud
The Serious Fraud Office announced on Tuesday that it has launched an investigation into an alleged solar farm bond fraud after failed investments forced an English council into bankruptcy.
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June 03, 2025
UK Threatens To Sue Abramovich Over Chelsea FC Sale
The government has threatened to sue Roman Abramovich to make sure that £2.5 billion ($3.4 billion) made from the sale of Chelsea Football Club is used to support humanitarian aid in Ukraine.
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June 02, 2025
Ex-Law Firm Boss Loses 2nd Bid For Solicitor Reinstatement
A former law firm owner and equity partner has lost a second attempt to regain authorization to work as a solicitor after he was struck off for being dishonest and failing to spot fraud, with a tribunal ruling on Monday that his latest bid was "premature."
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June 02, 2025
CJEU Set To Hear SocGen's Case In Swedish Tax Dispute
The Court of Justice of the European Union said Monday that it will hear the case of French banking giant Société Générale SA against the Swedish tax authority over the taxation of nonresident companies under the European treaty.
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June 02, 2025
EU Hits Two Delivery Firms With €330M Fine For Market Cartel
The European Commission said Monday that it had slapped two food delivery companies with a total of €329 million ($375.8 million) in fines for operating a cartel for four years in a settlement.
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June 02, 2025
AI Use Soars Among UK Cos. Despite Rising Cyber-Risks
More than 90% of U.K. businesses are either looking at or already using artificial intelligence tools, despite a vast number believing that cyberthreats are on the rise, according to research by insurer QBE released Monday.
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June 02, 2025
BBC Wins Bid To Amend Libel Defense In Tory Donor Case
Conservative Party donor Mohamed Amersi has largely failed to prevent the BBC from updating its defense to his libel claim, as a London court ruled that its allegations of his involvement in providing "lavish entertainment" for politically exposed people support its truth defense.
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June 02, 2025
Aircraft Parts Co. Director In Court On Fraud Charges
A director of an aircraft parts supply company appeared at a London criminal court on Monday accused of falsifying documents used in sales of engine parts to airlines around the globe.
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June 06, 2025
Reed Smith Hires Cohen & Gresser London White-Collar Pro
Reed Smith LLP has recruited a senior expert in financial crime from Cohen & Gresser LLP in London to boost its capabilities representing clients in complex disputes and investigations.
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May 30, 2025
UK Military Has Paid £20M To Sexual Misconduct Victims
The British military has spent nearly £20 million ($27 million) on payouts to victims of sexual misconduct in its ranks over the past decade, the Ministry of Defence confirmed Friday.
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May 30, 2025
Isle Of Man Agrees To Work With UK Against Tax Avoidance
Isle of Man authorities reached an agreement with the U.K. government to work together in a crackdown on promoters of tax avoidance schemes, according to a joint statement.
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May 30, 2025
UK Midsize Biz Owners Wary Of Risk Exposure, Report Says
Owners and operators of midsize U.K. businesses are just as wary of risk exposure in personal taxes as they are in business taxes except under certain circumstances, according to a report commissioned by HM Revenue & Customs.
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May 30, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Entain face yet more investor claims in the fallout from its bribery probe, UEFA face class action from Liverpool fans over chaos at the 2022 World Cup, and a venture capitalist sue journalists for misuse of his private information over a forged police report. Here, Law360 looks at these and other new claims in the U.K.
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May 30, 2025
Thames Water Fine Signals Growing Enviro Risk For Business
The historical fine imposed on Thames Water for environmental failings and improper payments to shareholders is a novel use of new legal powers given to the waste and water regulator — and a warning about growing regulatory risks, lawyers say.
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May 30, 2025
British Businessman Appears In Court In Malawi Bribery Case
A British businessman appeared at a London criminal court Friday on charges that he sent corrupt payments to the former vice-president of Malawi, as well as its ex-solicitor general and other high-ranking officials.
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May 30, 2025
FCA Wins OK For £1M Fine On Pensions Transfer Pros
The finance watchdog said Friday that a tribunal has approved its decision to ban two financial advisers from working in financial services and impose approximately £1 million ($1.3 million) in fines over their pension transfers that put clients' retirement money at risk.
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May 30, 2025
Russell Brand Pleads Not Guilty To Rape, Sexual Assault
Actor and comedian Russell Brand has denied charges of rape, sexual assault and indecent assault at a London court Friday.
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May 29, 2025
Accountants Deny Negligence In Kebab Biz Share Deal Fraud
An accounting 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.
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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.
Expert Analysis
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Updated EU Procedure Streamlines Data Transfer Approval
The European Data Protection Board’s updated approval procedure for binding corporate rules for transfers of personal data to non-European Union countries promotes consistency for regulator communications during the application process, and sets expectations for processing timelines, say lawyers at Hogan Lovells.
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What Cos. Must Note From FCA Bulletin On Leaking M&A Info
The Financial Conduct Authority’s recent bulletin on strategic leaks in merger and acquisition transactions, as the second such publication in four months, acts as a warning for issuers and their advisers to tighten up their current policies for handling inside information, say lawyers at Herbert Smith.
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FCA's Odey Decision Is Wake-Up Call For Financial Firms
The Financial Conduct Authority recently banned hedge fund boss Crispin Odey from working in financial services, underscoring the critical importance the regulator places on whether individuals are fit and proper to perform regulated activities, and the connection between nonfinancial misconduct and the integrity of the financial markets, say lawyers at Pallas Partners.
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How Ransomware Payment Reforms Could Affect UK Cos.
The Home Office’s recent proposals to ban ransomware payments by publicly owned bodies is a welcome first step in its aims to tackle the cybercrime industry, but the risk remains that hackers will now focus on private companies that are still permitted to pay a ransom, says Dominic Holden at Lawrence Stephens.
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Key Takeaways From The 2025 Spring Antitrust Meeting
Leadership changes, shifting priorities and evolving enforcement tools dominated the conversation at the recent American Bar Association Spring Antitrust Meeting, as panelists explored competition policy under a second Trump administration, agency discretion under the 2023 merger guidelines and new frontiers in conduct enforcement, say attorneys at Freshfields.
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Rising To The Task Of Online Safety Act Compliance
The arrival of the Online Safety Act’s deadlines for all in-scope services and children’s access in March and April, enabling the Office of Communications to begin enforcing safety duties regarding illegal content, presents formidable compliance challenges for affected businesses, says Louisa Chambers at Travers Smith.
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Google Win Illustrates Hurdles To Mass Data Privacy Claims
The Court of Appeal's December decision in Prismall v. Google, holding each claimant in a mass data privacy suit must demonstrate an individualized and sufficiently serious injury, demonstrates the difficulty of using representative action to collect damages for misused private information, say lawyers at Seladore Legal.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.