A Russian oligarch has fought off an attempt by a former business associate to have him sent to prison in the U.K. as a judge in London ruled on Wednesday that the claim is an abuse of process used to harass the billionaire industrialist.
Danske Bank said Wednesday it has received a criminal complaint from Denmark's financial regulator citing a breach of market manipulation rules because the banking giant allowed customers to trade with themselves and artificially inflate trading figures.
The Financial Conduct Authority said Wednesday it has filed a High Court claim against eight insurers in a test case it hopes will establish that the industry is liable in disputes over business interruption cover during the COVID-19 pandemic.
Drugmaker Servier urged the U.K.'s highest court Tuesday to rule that English litigation alleging it blocked generic competition to its blood pressure medication cannot veer from a European court's finding that it didn't hold potentially anti-competitive dominance over the market.
A U.K. judge shut down a "rogue education publisher" accused of duping small companies into forking over some £2.5 million ($3.17 million) for sponsorship slots in booklets sent to schools, a British watchdog said Tuesday.
Lawmakers have called on the Financial Conduct Authority and U.K. lenders to begin offering mortgage payment holidays that will also freeze the interest that business customers repay during the COVID-19 crisis.
Barclays has hit back at allegations by a private equity firm that it committed fraud as it raised capital during the financial crisis, arguing at a trial on Tuesday that the suit is "factually misconceived" and "nonsensical."
The Central Bank of Ireland has set out measures to strengthen protection for customers of regulated money lending services, which include forcing lenders to include warnings in adverts for high-interest loans.
Volvo has hit back at a lawsuit brought by suppliers of construction materials, which are seeking damages over the automaker's role in a massive truck price-fixing scandal, telling a London court that they passed on any additional costs to their customers.
A U.K. lower court failed to consider government arguments that a company's founder knew he was participating in tax fraud, the Upper Tribunal ruled, remanding the previously rejected case for a hearing on the facts by a new panel.
Russian oligarch Oleg Deripaska is fighting an attempt by a former business associate to have him sent to prison in the U.K. for allegedly breaching a court order tied to a $95 million arbitration award, in the latest twist to a long-running feud over the ownership of valuable real estate in Moscow.
A London judge has told Spanish bank Santander to dig up further records of customer complaints about improperly sold payment protection insurance involving AXA ahead of a trial set to calculate how much the insurer is owed by a U.S. rival.
The Supreme Court has agreed to weigh in on whether a collective lawsuit brought against Google for allegedly tracking the personal data of 4 million iPhone users should be allowed to proceed through the U.K.'s courts.
Lawyers for PCP Capital Partners told a judge on Monday that Barclays Bank PLC fraudulently misled the private equity company over the terms of a deal struck with Qatar during the financial crisis, as a nine-week trial got under way in London.
Police searched the German headquarters of payments company Wirecard AG on Friday after prosecutors launched a criminal investigation into its board of managers following a complaint by Germany's financial watchdog.
Britain's accounting watchdog said Monday that it has closed its investigation into accountants working at Tesco PLC after the supermarket giant overstated its profits by more than £250 million ($316 million) in 2014.
Ernst & Young won permission Friday to fight findings that the accountant owes a former partner $11 million in damages for helping cover up a client's gold smuggling, after a London judge said that his conclusions rested on a "novel" concept.
A British man jailed for 15 months for illegally selling a bogus wonder drug made from human blood as a cure for cancer, HIV and autism must pay approximately £1.4 million ($1.8 million) or face a further seven years in prison, a London judge ruled Friday.
Investors in money manager Neil Woodford's suspended equity fund are set for a payout of more than £200 million ($252 million) after administrators agreed to sell its healthcare portfolio to a U.S buyer.
The past week in London has seen a Chinese billionaire dissident launch another legal fight with UBS AG, a demolition company lodge a negligence claim against Hiscox and an asbestos solutions provider and an airport sim card seller target telecommunications giant Vodafone. Here, Law360 looks at those and other new claims in the U.K.
The European Union said Friday that Brexit trade negotiations remain stalled after four rounds of talks because the U.K. has strayed from pledges agreed to in 2019 that set out general terms for future relations.
The European Union's law enforcement agency launched a financial and economic crime unit on Friday, which it said will help member states tackle a surge in criminal activity during the coronavirus pandemic.
Britain's financial regulator is preparing for thousands of businesses to fold under the weight of compensation bills and investors' liabilities as a result of the COVID-19 pandemic, a senior official has said.
Danish pharmaceutical company Lundbeck shouldn't be allowed to upend a nearly €94 million fine that helped cement pay-for-delay penalties under European Union competition law, an adviser to the block's highest court recommended Thursday.
Denmark's tax authority said Thursday its claim that a U.K. tax management company negligently aided an alleged $2 billion fraud against the Danish government "cries out to be tested at trial," telling a London court the case should not be struck out.
The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.
A New York federal court's recent decision in U.S. v. Connolly is a warning to prosecutors against outsourcing their investigations to companies and outside counsel, but it should also be used by companies to determine the framework for internal investigations, says Rachel Maimin of Lowenstein Sandler.
While major enforcement actions against foreign banks for U.S. sanctions violations have slowed down in the past few years, recent settlements against three foreign banks show that federal and state authorities are still enforcing sanctions laws — and the pace of enforcement will likely increase, say Andrew Zimmitti and Richard Hartunian of Manatt.
The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.
The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.
A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.
In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.
In the last decade, changes to U.K. law have made it easier to convict large companies of gross negligence manslaughter. Organizations that fail to prevent fatal accidents can expect prosecution and significant fines, while culpable individuals risk imprisonment, say Guy Bastable and Tom McNeill of BCL Solicitors.
The sanctions enforcement action and major settlement with Standard Chartered highlights U.S. and U.K. regulators’ continued focus on compliance, and their specific attention to the lapses in internal controls that led to the alleged violations, say attorneys with Paul Hastings.
In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.
Two years after the European Union implemented its fourth directive on money laundering, an eerie silence surrounds the new rules. Jessica Sobey of Stokoe Partnership examines what might be contributing to the lack of prosecutions, and whether the financial services sector has embraced compliance.
The U.S. Chamber of Commerce is poised to neuter the European Commission's collective action proposal — intended to let EU consumers challenge corporate misconduct — with a series of debilitating amendments that the Council of the EU must fight back against, says Laura Antonini of the Consumer Education Foundation.
Last month, the U.K. House of Lords published a mostly positive review of the Bribery Act but justifiably criticized the slow pace of Serious Fraud Office investigations, says Christopher David of WilmerHale.
If governments are prepared to take radical action to address the tax avoidance practices of many large technology companies, a perfectly legitimate solution could lie in legislation disallowing the use of double tax agreements for tech royalty schemes, says George Turner of Tax Watch UK.
Because the United States scrapped the Joint Comprehensive Plan of Action, large EU companies with substantial U.S. exposure will likely suspend business with Iran, but the European Union's protective measures against U.S. sanctions should provide some comfort to smaller businesses, says Kartik Mittal of Zaiwalla & Co.