A London judge on Wednesday delayed settlement talks between former professional soccer players and a British wealth manager accused of giving them bad advice on tax schemes, saying the lawsuit may need to be pared before negotiations.
A U.K. tax management firm urged a London court on Wednesday to dismiss Denmark's claim it aided an alleged $2 billion tax fraud against the Danish government by negligently submitting fraudulent tax refund claims on behalf of clients.
Europe's securities watchdog told financial institutions Wednesday to be wary of becoming too dependent on cloud computing services for their core services as it warned of the risks of becoming over-reliant on a handful of major companies.
A unit of broking giant Marsh told a London court it was entitled to read Facebook messages from a former employee named in a £1.2 million ($1.5 million) breach of contract dispute as they had been stored on a company phone.
Collapsed British construction giant Carillion PLC lost its bid on Wednesday to get early access to working papers to help it finalize its claim against KPMG over misstatements in its financial accounts.
Insurers and other business groups have warned that European officials are rushing negotiations over class actions in the region, risking the possibility of introducing "defective" legislation.
Britain's financial dispute resolution body said Wednesday that payment protection insurance is still the most complained-about financial product years after the controversial cover caused a national scandal.
The total amount of stolen cryptocurrency in 2020 is gearing up to be the second-highest on record, according to a report by crypto anti-money-laundering intelligence firm CipherTrace that predicted Bitcoin ATMs will likely be the next target for regulators.
Volvo and Jaguar are going after a host of shipping companies they say hurt their bottom line by overcharging for the price of roll-on, roll-off cargo services, the U.K. Competition Appeal Tribunal said on Tuesday.
JPMorgan Chase and Barclays PLC will pay a combined $20.7 million in what bondholders call "icebreaker" settlements of claims that the banks participated in a sweeping conspiracy to rig Mexican government bond prices, according to court filings.
A judge ruled Tuesday that British drivers suing Volkswagen AG over diesel cars rigged with emissions-cheating devices couldn't force the automaker to separate out documents it knew would contradict its defense, saying that would be an unworkable task.
Britain's Serious Fraud Office vowed Tuesday to improve its culture in reaction to a report by the U.K.'s prosecution oversight body that found the white-collar crime agency suffered from favoritism, poor management and unacceptable behavior.
The High Court on Tuesday rejected an appeal from a lawyer challenging a decision striking him from the rolls and fining him in connection with a television sting program on immigration fraud.
A London judge on Tuesday rejected Teva's bid to block an infringement claim brought by an Italian pharmaceutical company after Teva challenged its lung disease drug patents, rejecting the generic drugmaker's arguments that disclosure for the claim would be anti-competitive.
An Oxford academic, judge and barrister was sworn in as a new justice to the U.K. Supreme Court on Tuesday, marking the first time a part-time practitioner has joined the country's top court directly from a university.
U.K. lawmakers said Tuesday they will grill the Financial Conduct Authority over whether it dragged its heels on a probe into its role in regulating the collapsed London Capital & Finance minibond investment company, causing the investigation to be delayed for three months.
The European Commission is considering tightening the rules for recovering the €110 billion ($123 billion) proceeds of criminal activity per year after finding that just 1% of illicit assets are confiscated by European Union authorities.
A wealth manager urged a London judge Monday to consider paring down a group of former athletes' £15 million ($18.7 million) negligence suit before settlement talks begin, arguing that settling the limitations dispute first will give the mediation a better shot at success.
A London judge ordered Barclays to hand over more than 1,500 documents detailing legal advice it received during its dealings with Qatar at the height of the financial crisis, ruling Monday as the trial approaches that the materials are no longer privileged.
The U.K.'s National Crime Agency should investigate banks alleged to have been forging their customers' signatures, a police commissioner said Monday, branding the authority's inaction a "national scandal."
Britain's finance watchdog said Monday it has barred four Cypriot investment firms from offering their products in the U.K. after they were caught using fake celebrity endorsements to flog risky investments costing British consumers £100,000 ($124,000) in losses.
A fraud expert representing British insurers on Monday added to warnings that consumers must be on guard for a spike in insurance fraud as scammers try to take advantage of heightened financial anxieties amid the COVID-19 pandemic.
The U.K.'s Financial Conduct Authority has launched an investigation into the process that subprime lender Amigo Holdings PLC uses to assess how creditworthy potential customers are before approving loans, the London-listed company said Monday.
A pharmaceutical company and a former pharma executive have appealed the fines imposed on them by the UK's antitrust regulator for allegedly rigging the drug market's supply of an antidepressant drug.
Hundreds of investors accusing banks of plotting to manipulate foreign exchange rates can move ahead with the bulk of their antitrust suit, a New York federal judge has ruled, while also limiting the claims they are allowed to pursue.
If a no-deal Brexit happens, cross-border trade in financial services between the U.K. and EU will be restricted unless the U.K. meets the EU's recently updated equivalence standards or successfully negotiates for "enhanced equivalence," says Kirsten Lapham of Ropes & Gray LLP.
Because the Libor rate for short-term loans will soon be gone, the U.S. Alternative Reference Rates Committee may seek to amend contracts wholesale through legislation. However, this solution would face serious political and legal obstacles, says Anne Beaumont of Friedman Kaplan Seiler & Adelman LLP.
Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.
The U.K. government will likely adopt the European Union's Fifth Money Laundering Directive even in the event of a no-deal Brexit, meaning U.K. financial services organizations and law firms have under a year to review and possibly update their current policies and procedures, says Joanne Cracknell of Willis Towers Watson PLC.
While sharing some of her predecessor's sentiments, Serious Fraud Office Director Lisa Osofsky has shown decisiveness and independence by closing two of the SFO's largest investigations in her first six months in office, says Ross Dixon of Hickman & Rose Solicitors.
The German Federal Cartel Office's decision last month against Facebook — the first time a competition authority ruled on a privacy-related abuse of dominance — is based on specific German case law and reasoning that seems questionable from an antitrust policy perspective, say Sean-Paul Brankin and Evi Mattioli of Crowell & Moring LLP.
These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.
As regulators start to aggressively enforce the General Data Protection Regulation while also focusing on development of cookie compliance and cybersecurity, Rohan Massey and Edward Machin of Ropes & Gray LLP offer five data protection predictions to watch for this year beyond the changes that Brexit may bring.
The Sixth Anti-Money Laundering Directive recently adopted by the Council of the European Union targets the financing of terrorism and organized crime, which have remained significant problems despite the efforts of previous directives, say Ian Hargreaves and Deirdre Lyons Le Croy of Covington & Burling LLP.
Individuals are sometimes tempted, or advised, to enter into plea negotiations in one jurisdiction on the basis that a guilty plea there will act as a barrier to prosecution elsewhere. Unfortunately, the doctrine of double jeopardy is not always so clear-cut, says Andrew Smith of Corker Binning.
Many of the big data protection compliance themes of 2018 will continue on this year, including even General Data Protection Regulation preparation, but the possibility of a no-deal Brexit may complicate matters, says Stewart Room of PwC LLP.
British overseas territories have pushed back against a recent U.K. measure requiring them to create publicly accessible registers of companies' beneficial owners. However, considering global trends toward transparency, perhaps the territories should embrace the new rules as a force of good, says Simon Airey of Paul Hastings LLP.
The recent deferred prosecution agreement between the U.K. Serious Fraud Office and Tesco Stores Limited provides a glaring example of how a DPA can result in real injustice to individuals and how the statutory DPA regime fails to provide them with any remedy, says Richard Sallybanks of BCL Solicitors LLP.
A decade of funding cuts to the U.K.'s police, prosecution and defense has severely strained the criminal justice system, and the failing disclosure system is just one symptom of a deeper malaise that must be remedied by adequate investment in training and staffing, says Marlon Grossman of Stokoe Partnership Solicitors.