Corporate Crime & Compliance UK

  • May 10, 2024

    Stagecoach's £25M Ticket Class Action Settlement Approved

    The U.K.'s Competition Appeal Tribunal has agreed to passenger rail operator Stagecoach's £25 million ($31 million) settlement with passengers who say they were overcharged for train tickets.

  • May 10, 2024

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Playtech file an intellectual property claim against online casino company OnAir Entertainment amid allegations of corporate spying, a broadcast equipment company sue its former owner amid allegations he conspired to inflate a customer’s finances, and aerospace company Vertical Aerospace hit a manufacturer with a claim following a test flight crash. Here, Law360 looks at these and other new claims in the U.K.

  • May 10, 2024

    UK Class Actions Face Tougher Test On Distributing Damages

    A decision by the antitrust tribunal to certify a £790 million ($990 million) mass claim against major European power cable suppliers came with the caveat that it intends to take a tougher approach toward claimant lawyers' plans for getting awards into the pockets of consumers.

  • May 10, 2024

    Ex-Plastics Co. Manager Spared Prison For Insider Dealing

    A London judge gave a former manager at a plastics company an 18-month suspended prison sentence on Friday for insider dealing in connection with the £261 million ($327 million) purchase of a rival company.

  • May 10, 2024

    Director Imprisoned For Deceiving FCA In £1.2M Fraud Probe

    A business director was sentenced to 18 months in prison on Friday for providing a forged document to investigators in a fruitless attempt to prop up the defense of self-styled investment brokers now convicted of a £1.2 million ($1.5 million) boiler room fraud.

  • May 10, 2024

    Ex-Madagascan Official, Partner Get 5½ Years For Bribery Plot

    A former leading aide to the president of Madagascar and her French associate were sentenced on Friday to a total of more than five-and-a-half years in prison for soliciting bribes to secure mining rights in the southeast African country for a U.K. gem company.

  • May 10, 2024

    Osborne Clarke Lawyer To Face Tribunal Over Zahawi SLAPP

    An Osborne Clarke LLP partner who represented Nadhim Zahawi could face a disciplinary tribunal over allegations that he used intimidatory warnings in an attempt to silence a critic who was probing the former Conservative chancellor's tax affairs.

  • May 10, 2024

    FCA Warns Firms Of Market Abuse Surveillance Failings

    The Financial Conduct Authority has warned in its latest market watch newsletter that some companies have inadequate or faulty systems to detect market abuse, with insufficient governance arrangements.

  • May 10, 2024

    MPs Mull Using Frozen Russian Assets For Ukraine Recovery

    Politicians are to probe leading experts, including the head of financial crime and compliance at Lloyd's of London, on whether the U.K. should follow the European Union and use profits from Russia's frozen assets to help Ukraine, as they examine the sanctions regime.

  • May 09, 2024

    Ex-Goldman Banker Fights To Overturn Contempt Ruling

    A former Goldman Sachs banker urged a London appellate court panel Thursday to overturn a ruling that he had breached court orders to hand over information about the financial assets of the wife of an imprisoned Turkish politician. 

  • May 09, 2024

    Royal Bank Of Canada Beats Analyst's Bullying Claim

    The Royal Bank of Canada convinced an employment tribunal to toss discrimination claims from a former employee because he filed his action too late.

  • May 09, 2024

    Google Fights To Shut Down Advertising Antitrust Case

    Tech giant Google asked a London tribunal on Thursday to strike out a proposed class action brought on behalf of website publishers who run advertisements over alleged anti-competitive practices, arguing the claim is not properly pleaded and does not sufficiently set out damages.

  • May 09, 2024

    Ex-Goldman Banker Fights US Extradition On Bribery Charges

    A former Goldman Sachs banker wanted in the U.S. for allegedly bribing Ghanaian officials fought the decision by the U.K. to extradite him on Thursday, arguing that the alleged offense took place in London when he was an employee of the investment bank. 

  • May 09, 2024

    Watchdog Preps Rules For Banks To Repay High-Value Fraud

    The payments watchdog has set out plans to extend its fraud reimbursement scheme to high-value bank transfers through the CHAPS system, reducing the risk that fraudsters will move there to avoid detection.

  • May 08, 2024

    SFO Says Fuel Trader Pocketed Secret Commissions

    A former biodiesel trader took secret commission payments buying and selling fuel and laundered some of the profits back to his Dutch customer, a prosecutor told jurors in London on Wednesday.

  • May 08, 2024

    FCA Mulls 'Enforcement Watch' As Naming Alternative

    The Financial Conduct Authority's top executives on Wednesday vigorously defended its plans to name firms under investigation, but saw value in a potential alternative move to publish an "enforcement watch" newsletter giving an overview.

  • May 08, 2024

    StanChart Bids To Toss Investors' Sanctions Claim On Appeal

    Standard Chartered PLC urged an appeals court Wednesday to toss accusations from investors that it had downplayed the extent to which it had breached U.S. sanctions against Iran by hundreds of billions of dollars, saying they have insufficient evidence to support them.

  • May 08, 2024

    Top KC Denies Ignoring Post Office Prosecution Issues

    A barrister who advised the Post Office on its past prosecutions has denied "turning a blind eye" by not investigating why an expert witness whose evidence was used to convict innocent people misled the courts, as he appeared before an inquiry on Wednesday.

  • May 08, 2024

    Three Men Plead Not Guilty In £4M Water Investment Fraud

    Three men pleaded not guilty on Wednesday at a London court to defrauding investors out of £3.9 million ($4.9 million) through an unregulated investment scheme promising to build water production plants in Australia, New Zealand and Africa.

  • May 08, 2024

    Advertisers Fight For Class Action In Google Antitrust Case

    A group of advertisers fought for a green light for their class action against Google owner Alphabet on Wednesday, arguing that their case meets the requirements for a class proceedings order because there are serious issues of abuse of market dominance to be tried.

  • May 08, 2024

    Litigation Funder Probably Owned By Sanctioned Oligarchs

    A court has found that there is "reasonable cause" to suspect that a litigation-funder that backs a $1.34 billion fraud claim from a collapsed Russian bank against its former owner is controlled by individuals sanctioned in the U.K.

  • May 07, 2024

    Russian Charged Over $100M LockBit Ransomware Scheme

    Federal prosecutors said Tuesday they have charged a Russian national with founding and heading the prolific ransomware group LockBit, which is accused of stealing more than $100 million from its victims.

  • May 07, 2024

    Businessman Asks Top Court To Block £19M UAE Debt Claim

    A businessman's family took its fight with a UAE bank to Britain's highest court Tuesday over an alleged £19 million ($24 million) debt, arguing that the lender should not be allowed to collect on debts he says are illegitimate and a result of fraud.

  • May 07, 2024

    Online Retailers Tap AI In Fight Against Counterfeiting

    Reviews are vital for online shopping, but fake posts have become a cottage industry for fraudsters. However, websites are fighting back, often using the same artificial intelligence tools deployed by scammers.

  • May 07, 2024

    Spacey To Face UK Civil Trial Over Sex Assault Claim

    Kevin Spacey successfully bid to overturn a default judgment against him at a London court on Tuesday — but the actor now faces a trial to fight off a man's £457,000 ($574,000) sexual assault claim.

Expert Analysis

  • What Can Be Learned From CMA's Green Claims Investigation

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    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.

  • The Art Of Corporate Apologies: Crafting An Effective Strategy

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    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.

  • AI Tools Could Enhance UK Gov't Public Services Strategy

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    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.

  • Taking Stock Of The Latest Criminal Court Case Statistics

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    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.

  • ICO Data Protection Guidance Offers Clarity On Fining Powers

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    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.

  • Hugh Grant Case Raises Questions About Part 36 Offers

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    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.

  • Investment Security Act Fine-Tune May Help Businesses

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    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.

  • How New FCA Rules Strengthen Borrower Protections

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    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.

  • How Cos. Can Prepare For EU's Forced Labor Regulation

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    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.

  • Opinion

    New Property Category Not Needed To Regulate Digital Assets

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    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.

  • FTSE Draft Rules Show Impact Of FCA Listing Reforms

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    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.

  • FCA Strikes A Balance With 'Finfluencer' Guidance

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    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.

  • Pharma Remains A Key Focus Of EU Antitrust Enforcement

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    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.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What UK Energy Charter Treaty Exit Would Mean For Investors

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    While the U.K.'s recent announcement that it intends to withdraw from the Energy Charter Treaty is a bold political signal, investor protections will remain in place for a significant period of time, ensuring that an element of certainty and business continuity will remain, say Karel Daele and Jessica Thomas at Taylor Wessing.

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