The European Commission opened a public consultation on Tuesday over a planned shake-up of cybersecurity regulations, amid concerns that the threats have changed in the four years since the rules were introduced.
Fiat Chrysler and Italian truck maker Iveco have refused to admit that they'll owe a rival automaker compensation should a London court award damages in the wake of a massive price-fixing scandal that allegedly stuck businesses and consumers with inflated costs.
A Mozambican government company at the center of a $2 billion debt scandal has run out of time to dispute the High Court's jurisdiction in a substantial lawsuit filed by a Russian state lender, a judge has said.
New York state's financial regulator said Tuesday it fined Deutsche Bank $150 million for failing to appropriately manage its dealings with alleged bad actors including millionaire sex offender Jeffrey Epstein, who died in federal custody.
A payday lender has scrapped £500,000 ($620,000) of loans after it was discovered that the company did not provide borrowing statements under rules designed to keep prices for high-cost credit competitive, the competition watchdog said Tuesday.
Travelers Indemnity Co. of America on Monday asked a Kentucky federal court to declare it need not defend a family of financial service advisers implicated in a $2.1 billion scheme to defraud the Kingdom of Denmark, saying its policy with the family does not cover criminal actions, but does cover bodily injury or property damage.
The European Commission began a competition to build a think tank that would help the European Union fight tax evasion, drawing on the expertise of tax professionals and nongovernmental organizations.
The U.K. government on Monday introduced new regulations that will allow it to hit abusers of human rights with asset freezes and travel bans, marking the first time the country has independently imposed such penalties on individuals and organizations since its breakaway from the European Union.
A London judge on Friday disqualified a retired businessman from serving as a company director for seven years after finding that he helped fix real estate commissions to end a "fee war" with rivals in a Southwest seaside town.
Barclays' former chief executive denied misleading the bank's board to win approval for side payments to Qatar during the financial crisis, maintaining at a £1.6 billion ($2 billion) fraud trial that the lender's legal team was heavily involved in drafting the agreements.
Companies fighting U.S. discovery requests that require them to produce European Union residents' personal information have so far found little traction for their argument that the EU's stringent data protection rules bar these disclosures, but defendants can still face hefty fines if they fail to ensure that data demands are lawful and limited.
A regulator ordered the "Big Four" accounting companies on Monday to hand over by October their plans for splitting up their audit practices after a string of reporting scandals.
Lloyd's of London said Monday it is taking precautions to secure market data after one of its main software and claims providers was hit by a cyberattack.
The European Union and Britain must iron out the equivalence terms of a Brexit deal for financial services by September to give EU companies certainty about their access to markets across the Channel, a European lobby group said on Monday.
The Financial Conduct Authority has said it does not plan to revisit how the national bankruptcy compensation program is funded, despite concerns being raised about the rising cost of the levy for regulated companies.
The Serious Fraud Office must ask its former employees whether they used personal mobile phones when doing work for the agency as part of ENRC's lawsuit accusing it of colluding with the Kazakh mining giant's former law firm, a judge said on Friday.
Britain's financial watchdog said Friday it intends to slap the former boss of a failed spread-betting company with a fine of £659,000 ($821,000) for engaging in market abuse before it was floated on the London Stock Exchange in 2007.
A judge has allowed a French movie producer to amend his fraud suit against nearly a dozen financial advisers and former HSBC bankers, dismissing objections on Friday from some of the defendants that the proposed changes "significantly disfigure the claim."
National financial services watchdogs should exchange information on penalizing banks and their compliance with rules on financial crime, according to recommendations by the Basel Committee on Banking Supervision.
Six German subsidiaries of payments company Wirecard AG have applied for insolvency proceedings as administrators prepare to sell off assets to dismantle the group amid a fraud investigation.
The last week has seen a competition suit against Royal Mail, a Saint-Gobain unit lodge a patent claim against 3M and a Russian bank file another suit against Mozambique and one of the state-owned entities embroiled in a $2 billion bribery scandal. Here, Law360 looks at those and other new claims in the U.K.
The planned Libra digital currency faced such unrelenting backlash that the group behind it modified its underlying structure and packed leadership positions with compliance experts in recent months. But whether these changes will allow the project to realize its ambitions remains uncertain.
A group of investors suing financial advisers, accountants and banks over their alleged role in a failed film tax relief scheme operated by Ingenious Media must disclose other investments they made and advice they received, a London judge ruled Thursday.
Barclays' former chief executive defended payments made by the bank to Qatar as it sought to raise capital in 2008, arguing at PCP Capital's £1.6 billion ($2 billion) fraud trial on Thursday that they were a legitimate part of a long-term strategy to generate more business.
The European Commission announced plans on Thursday to take legal action against Austria, Belgium and The Netherlands for failing to fall into line with bloc-wide regulations against money laundering and financing of terrorism.
The U.K. Supreme Court's decision in the WM Morrison Supermarkets data breach group action confirms that employers cannot be held liable for employee actions related to a personal vendetta against the company, but most vicarious liability cases may not be as clear-cut, say attorneys at Covington.
The prosecution of former Alstom executive Lawrence Hoskins and other recent cases illuminate the outer limits of the Foreign Corrupt Practices Act’s jurisdiction over foreign persons, but many issues remain to be litigated, and a circuit split may yet need to be resolved, say Jason Linder and William Sinnott at Mayer Brown.
The £20.47 million penalty that the Office of Financial Sanctions Implementation imposed on Standard Chartered Bank on Tuesday is unprecedented, and this case could represent the start of a new era of sanctions enforcement in the United Kingdom, say attorneys at Kirkland.
The U.S. Department of Justice's recent extradition of a Korean auto parts executive — the third extradition based solely on an antitrust charge — reveals the difficult choices individuals face in deciding whether to defend themselves in a foreign land, but defendants in these cases have other options, say attorneys at BakerHostetler.
The U.K. Gambling Commission's recent anti-money laundering fine against online gambling giant Betway illustrates that companies subject to the U.K. Money Laundering Regulations must adopt a risk-based compliance approach that concentrates resources and focus into their highest-risk areas, say attorneys at Cadwalader.
While the National Crime Agency has paraded a few high-profile unexplained wealth orders, like those the U.K. Court of Appeal recently upheld against Zamira Hajiyeva, the hype still fails to match their limited usefulness in combating illicit money thus far, says Bambos Tsiattalou at Stokoe.
The Financial Conduct Authority's director of retail and regulatory investigations recently painted a hopeful picture of plans to regulate cryptoassets, but obstacles such as weak links in the global regulatory chain and resistance to compliance may be more challenging than anticipated, says Anna Gaudoin of WilmerHale.
The Serious Fraud Office's recent failure to convict three Barclays executives for fraud is the latest evidence that the agency's real issue is its tendency to seek prosecution without a realistic chance of conviction, says Bambos Tsiattalou at Stokoe.
The $4 billion settlement Airbus recently agreed to pay to the U.S., U.K. and France over foreign bribery charges is merely a cost of doing business for the aircraft manufacturer, and suggests that there is no effective deterrent to corruption when companies are too big to prosecute, says Alan Hoffman, a retired attorney and aviation expert.
A Connecticut federal court's recent decision in Lawrence v. Hoskins, throwing out a foreign national's conviction for Foreign Corrupt Practices Act violations, is a potent reminder of the FCPA's limited reach and provides defense counsel with a powerful new precedent, say attorneys at Fried Frank.
Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.
While self-reporting corporate crime can generally help U.K. companies get more lenient treatment from the Serious Fraud Office, two companies that were formally prosecuted nonetheless demonstrate that self-reporting should be backed by proper cooperation, reform and caution, says Azizur Rahman at Rahman Ravelli.
President Donald Trump's reported offer to pardon Julian Assange, if Assange denied that Russians hacked into the Democratic National Committee database, was constitutionally risky and highlights the danger of presidential power wielded for personal goals, says Harold Krent at Chicago-Kent College of Law.
As firms prepare for Libor cessation by the end of next year, one of the more difficult challenges may be dealing with legacy contracts, which could cause significant market disruption and litigation if not successfully renegotiated, say Abdulali Jiwaji and Johnny Shearman at Signature Litigation.
The Serious Fraud Office's new guidance explaining how it assesses companies' compliance programs is laudable, but does not provide enough solid advice, says Azizur Rahman of Rahman Ravelli.