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Corporate Crime & Compliance UK
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March 24, 2025
Hayes Appeal Set To Test Theory Of Rate-Rigging Convictions
Two former City traders will appeal against their convictions for rigging interest rates before Britain's top court on Tuesday in a case that could have implications for the premise that underpins the rate-rigging prosecutions of dozens of others in the wake of the 2008 financial crisis.
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March 31, 2025
Dentons Hires Competition Pro From Travers Smith
Dentons has brought on as partner a competition lawyer from Travers Smith LLP against a complex regulatory landscape that has increased demand for specialist advice.
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March 24, 2025
UK Gov't Considers DST Changes To Prevent US Tariffs
The Labour government may be considering changes to the digital services tax as part of talks with the U.S. administration to prevent tariffs being imposed on Britain, Chancellor of the Exchequer Rachel Reeves suggested in a TV interview.
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March 24, 2025
Oligarch's Charity Seeks Barclays Docs In $50M Transfer Fight
A charity set up by a sanctioned Russian oligarch asked a London court on Monday to order Barclays to disclose documents as part of its case that the bank caused it "significant" losses by delaying a $50 million transfer.
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March 24, 2025
Mastercard Seeks To Limit Swipe Fee Damages Bill
Mastercard urged a tribunal on Monday to limit the damages it must pay to intermediaries such as Worldpay over unlawful interchange fees, arguing that the acquirers' proposed damages bill is too broad and covers too long a period of time.
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March 24, 2025
Drax Settles Whistleblower Case Amid Toxic Work Claims
Drax reached a settlement with its former public affairs manager on Monday over allegations that bosses sacked her amid a "toxic" working environment after she blew the whistle on concerns about alleged sustainability failings by the energy company.
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March 21, 2025
DOJ Ends Glencore Monitorships Under Bribery Deal Early
The U.S. Department of Justice has ended early two monitorships imposed as part of mining giant Glencore's 2022 bribery and market manipulation case settlement, in the wake of President Donald Trump's directive pausing enforcement of the Foreign Corrupt Practices Act.
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March 21, 2025
Sheridans Denies Negligence In $11M PPE Commission Row
London law firm Sheridans has denied claims that it gave negligent advice to a personal protective equipment selling agent facing allegations that it unlawfully made $11 million in secret commissions.
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March 21, 2025
Informal Money Transfers Launder £2B Annually, HMRC Warns
Criminals in the U.K. are laundering an estimated £2 billion (£2.6 billion) every year via informal money transfer services, HM Revenue and Customs has warned.
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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.
Expert Analysis
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Clarity Is Central Theme In FCA's Greenwashing Guidance
Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.
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What The EU Sustainability Directive Will Mean For Companies
The European Parliament’s recent approval of the landmark Corporate Sustainability Due Diligence Directive provides welcome clarity for small and midsize enterprises regarding human rights and environmental due diligence expectations, forming part of a growing pressure on companies around the world to operate ethically and sustainably, say lawyers at Jenner & Block.
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What Can Be Learned From CMA's Green Claims Investigation
The Competition and Markets Authority's recent investigation into retailers' allegedly misleading environmental claims demonstrates that all consumer-facing businesses must exercise caution and ensure their green credentials are genuine, say Charlotte Kong and Stephen Sidkin at Fox Williams.
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The Art Of Corporate Apologies: Crafting An Effective Strategy
Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
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AI Tools Could Enhance UK Gov't Public Services Strategy
The government’s recently announced intention to pilot artificial intelligence tools in routine policy work is part of a wider strategy to revolutionize the delivery of public services, and could improve productivity and create efficiencies, provided it is mindful of the potential risks involved, say attorneys at Akin.
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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.