Try our Advanced Search for more refined results
Corporate Crime & Compliance UK
-
April 09, 2025
Ex-Axiom DWFM Lawyer Accused Of Diverting Client Funds
The Solicitors Regulation Authority accused a former solicitor at Axiom DWFM on Wednesday of diverting money that belonged to the firm into his account when he carried out client work.
-
April 09, 2025
EPPO Can't Avoid Judicial Review Of Witness Summons
Europe's top court has ruled that decisions of the European Union financial crime prosecutor must be open to judicial review after suspects in a Spanish subsidy fraud probe challenged the authority's decision to summon a staffer to give evidence.
-
April 09, 2025
Rabobank Headed To Court Over Laundering Allegations
Rabobank said Wednesday that it will face allegations from the Dutch Public Prosecution Service in court in connection with a money laundering and terrorist financing investigation, as the two sides have failed to settle the case.
-
April 09, 2025
Tycoon Loses Challenge To Bankruptcy Order Over £1B Debt
An Indian tycoon has failed in his bid to challenge a bankruptcy order against him after a court ruled Wednesday that his creditors are entitled to say he has not properly paid off his £1 billion ($1.28 billion) debt because assets used to discharge it could be clawed back by authorities.
-
April 09, 2025
US Tariffs Threaten Global Growth, Bank Of England Says
The U.S. government's tariff policy has created intense uncertainty for global trade and has increased risks to economic growth around the world, the Bank of England warned Wednesday.
-
April 09, 2025
Ex-Russian Politician Convicted Of Breaching UK Sanctions
A former Russian politician once appointed by President Vladimir Putin to serve in occupied Crimea was convicted of breaching sanctions in London on Wednesday, the first person ever to be held criminally responsible for circumventing the country's financial restrictions.
-
April 09, 2025
Ex-Everton Director Loses Fight Over Sanctions Disclosure
A former director of Everton Football Club lost on Wednesday his fight to force the British government to identify a public body that proposed sanctioning him after Russia invaded Ukraine, which was part of his challenge against sanctions.
-
April 08, 2025
Revolut Bank Fined €3.5M In Lithuania Over AML Failures
Lithuania's central bank said Tuesday that it has fined Revolut Bank UAB €3.5 million ($3.8 million) for breaching anti-money laundering requirements.
-
April 08, 2025
BDO Faces Probe Over Collapsed Home REIT's Audit
The Financial Reporting Council is investigating BDO LLP's audit of the ailing real estate investment trust Home REIT PLC's consolidated financial statements from years before the investor announced it would wind down, the corporate governance regulator said Tuesday.
-
April 08, 2025
Kuwait Pension Chief's Estate Denies $1B Bribery Claims
The estate of the deceased Kuwaiti pension authority director denied on Tuesday that the businessman was involved in an unlawful scheme of corrupt payments in excess of $1 billion, saying he believed the payments were legitimate and above-board.
-
April 08, 2025
Barclays Denies Ex-Employee's Role In Transfer Fraud Case
Barclays Bank told a London court that it is not responsible for a $643,000 fraud targeting a Singaporean fire safety company, arguing that the loss resulted from the company's "own failures" rather than any wrongdoing by the bank.
-
April 08, 2025
Legal Advice No Shield For Ex-Metro Bank Execs, FCA Says
The City watchdog told a tribunal on Tuesday that two former Metro Bank executives could not use legal advice from Linklaters LLP as a "get-out-of-jail-free card" for publishing a statement at the heart of a £900 million ($1.2 billion) scandal.
-
April 08, 2025
Nigerian Villagers Seek Shell Execs' Docs In Pollution Case
Thousands of Nigerian villagers urged the High Court on Tuesday to rebalance the "inequality of arms" in their battle with Shell by giving them access to documents that they believe could reveal the involvement of senior executives in decisions that led to widespread pollution.
-
April 08, 2025
Ex-SFO Official Joins BNY Mellon As Senior Counsel
A former official of the Serious Fraud Office has joined the Bank of New York Mellon as a senior in-house counsel after more than a decade at law firms including Reed Smith.
-
April 08, 2025
Former Georgian PM Wins Fight To Nix $1.8M Extortion Case
A former prime minister of Georgia won his bid on Tuesday to avoid a court case in London over allegations that he extorted a businessman for almost $1.8 million and tried to take over a tobacco business.
-
April 08, 2025
Law Firm And Gov't Settle Axed Legal Aid Contract Dispute
A criminal law firm has settled its case against the Ministry of Justice, in which it had alleged that the government department unlawfully pulled a contract for legal aid services after the solicitors missed a deadline.
-
April 08, 2025
FCA Boosts Testing Support For Innovative Products
The financial watchdog said Tuesday that it will make it easier for companies to test innovative products and support those which apply for regulatory approval as part of its work program for 2025/26.
-
April 07, 2025
Starmer Calls For US Trade Deal That Avoids Tax Hikes
The Labour government would sign a trade deal with the U.S. only if the terms fit Britain's national interest, which would mean avoiding the need for further domestic tax hikes, Prime Minister Keir Starmer said in a news conference Monday.
-
April 07, 2025
UK Gov't Fails To Keep Apple Legal Battle Secret
The legal challenge by Apple to the U.K. government's attempt to create a "back door" to personal encrypted data will not be kept secret, after a tribunal refused Monday to accept that revealing the bare details of the case would threaten national security.
-
April 07, 2025
1 In 3 Criminal Barristers Report Bullying, Harassment
A third of criminal barristers say they have been bullied or harassed, the Criminal Bar Association revealed Monday, amid high attrition rates that add to the crisis in the criminal justice system.
-
April 07, 2025
Cash Uncovered In FCA Probe Was My Dad's, Analyst Testifies
A former analyst for an asset management firm testified in London on Monday that £198,000 ($253,000) unearthed by investigators as part of an insider dealing probe was not dirty money, but was partially cash destined for his father's construction business in Albania.
-
April 07, 2025
Linklaters Names New Global Financial Regulation Boss
Linklaters LLP said Monday that it has appointed a new global head of its financial regulation group who will be based in Hong Kong.
-
April 07, 2025
Doubts Grow Over Impact Of UK Capital Market Deregulation
Government efforts to revitalize the country's sluggish economy by stripping away regulatory burdens on financial markets have raised concerns among lawyers that consumers might be exposed to more risk, amid doubts that the steps can stimulate broader U.K. economic output.
-
April 07, 2025
Allianz Luxembourg Unit Penalized For AML Breaches
Luxembourg's financial regulator has hit the domestic branch of insurer Allianz with a €283,000 ($310,000) fine for breaching the country's anti-money-laundering and terrorist-financing rules.
-
April 07, 2025
Brit Jailed For Money Laundering Plot After 7 Yrs On The Run
An extradited tax fugitive has been jailed for five-and-a-half years for his involvement in a £3.5 million ($4.5 million) money laundering scheme, HM Revenue and Customs said Monday.
Expert Analysis
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.