Corporate Crime & Compliance UK

  • May 21, 2024

    Ex-Insurance Exec's Wife Denies Knowledge Of Illegal Money

    The wife of a former executive at Gable Insurance has denied cashing in on unauthorized payments from her husband who, the Liechtenstein insurer alleges, siphoned off millions of pounds from the company to accounts he had links to.

  • May 21, 2024

    Prince Harry Fails To Drag Rupert Murdoch Into Privacy Claim

    Prince Harry and others suing the U.K. arm of Rupert Murdoch's News Corp. failed on Tuesday to drag the media mogul into their claim as a London judge refused to expand their case to include allegations that he was part of an alleged cover-up.

  • May 21, 2024

    Hayes Gets Lifeline In Bid To Overturn Libor Conviction

    An English appellate court on Tuesday opened the door for two traders convicted of manipulating benchmark interest rates to appeal to the U.K.'s top court but said that the justices must decide whether to hear the case. 

  • May 20, 2024

    Arbitrator In $14.9B Malaysia Case Can't Nix Contempt Ruling

    Embattled arbitrator Gonzalo Stampa has lost an appeal challenging his conviction in Spain for contempt of court after he ordered Malaysia to pay $14.9 billion to the heirs of the last sultan of Sulu in an unusual, high-stakes arbitration stemming from a 19th-century land deal.

  • May 20, 2024

    Autonomy CEO Reaped $516M From HP Acquisition, Jurors Told

    Ex-Autonomy CEO Michael Lynch took home more than $516 million from the software company's $11.7 billion sale to HP, an FBI agent testified Monday as the government's last witness in a trial over allegations Lynch duped HP into overpaying to buy the company.

  • May 20, 2024

    SFO Seizes Cash In Bank Account Linked To Nigerian Bribery

    Britian's anti-corruption agency has seized more than £36,000 ($46,000) from the former managing director of an African state-owned banknote printing company after prosecutors traced the money to a bribery scheme. 

  • May 20, 2024

    Barristers Blast Lack Of Data As Remote Hearings Decline

    The Bar Council on Monday reported a "significant and steep decline" in the number of remote court hearings taking place since the peak of COVID-19 and condemned the "staggering" lack of data available to assess their effectiveness.

  • May 20, 2024

    Collapsed Firm Escapes Fine For Making Unapproved Claims

    The solicitors' watchdog for England and Wales on Monday waived a £65,300 ($83,000) fine for a shuttered law firm that submitted claims without clients' approval, scrapping the penalty to safeguard the outfit's creditors.

  • May 20, 2024

    Step Up Action On Financial Abuse, FCA Tells Firms

    The Financial Conduct Authority has called on regulated firms to take further steps to stop financial abuse of individuals through manipulation of banking or insurance products as it looks through the lens of the Consumer Duty.

  • May 20, 2024

    Judge Approves Bankruptcy Order On Ex-Axiom Ince Chief

    A judge approved on Monday a bankruptcy order against the former head of Axiom Ince Ltd. after the now-collapsed law firm failed to pay monthly installments for its acquisition of Ince.

  • May 20, 2024

    Crypto 'Inventor' Used Court As Vehicle For Fraud, Judge Says

    A London court ruled Monday that the man who claimed to be Satoshi Nakamoto in a weekslong trial lied extensively and committed forgery "on a grand scale," finding that the computer scientist had used the courts as a "vehicle for fraud."

  • May 20, 2024

    Assange Gets Final Appeal In Fight Against US Extradition

    Julian Assange won a lifeline in his long-running fight against extradition to the U.S. on Monday as an English court granted him permission to challenge assurances from American authorities that the WikiLeaks founder would not face discrimination at trial.

  • May 17, 2024

    Imprisoned Oligarch Partly Wins Bid To Expand $14B Claim

    An imprisoned Russian billionaire partly succeeded in a London court Friday in adding new allegations to his $13.8 billion claim alleging his business empire was fraudulently taken in a wide-ranging Russian state conspiracy.

  • May 17, 2024

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

    This past week in London has seen a wave of claims filed against Verity Trustees Ltd., Harley-Davidson hit retailer Next with an intellectual property claim, Turkish e-commerce entrepreneur Demet Mutlu sue her ex-husband and Trendyol co-founder Evren Üçok and the Solicitors Regulation Authority file a claim against the former boss of collapsed law firm Axiom. Here, Law360 looks at these and other new claims in the U.K.

  • May 17, 2024

    SEC Can Try To Show Jurisdiction Over German In $3M Claim

    The U.S. Securities and Exchange Commission will be allowed to pursue evidence to support its case for disgorgement of $3.3 million in allegedly ill-gotten gains from a German man whose son was implicated in a $150 million pump-and-dump scheme, a federal judge in Boston ruled on Thursday.

  • May 17, 2024

    Sanctions Ruling Clarifies Force Majeure Contractual Rights

    A decision by Britain's highest court that a shipowner could reject a client's attempt to sidestep payment restrictions imposed by U.S. sanctions has implications for disputes over force majeure clauses sparked by the effects of those measures, the war in Ukraine and the COVID pandemic on supply chains.

  • May 17, 2024

    Post Office Used Womble Bond To Avoid Looking Like 'Bullies'

    The Post Office retained Womble Bond Dickinson in a civil case brought by victims of the Horizon scandal because a more aggressive law firm might make it look like "bullies," an executive for the organization told an inquiry Friday.

  • May 17, 2024

    Local Authorities Bid To Toss Truck Makers' Pass-On Defense

    A lawyer acting for 136 local authorities across the U.K. urged a tribunal on Friday to prevent European truck manufacturers from arguing that they passed on higher costs allegedly paid for vehicles through higher tax and service charges for residents.

  • May 17, 2024

    FCA To Weigh 'Sensitive, Emotive Issue' Of Probes Policy

    The Financial Conduct Authority has said it "will take time" to consider widespread concerns over its proposals to identify companies or individuals under investigation after lawyers said the move could damage careers.

  • May 17, 2024

    Ex-Investment Manager Gets 6 Years For £19M Ponzi Scheme

    A former investment manager was sentenced to six years in prison on Friday for defrauding hundreds of investors out of £19 million ($24 million) in a Ponzi scheme that prosecutors said helped fuel a lavish lifestyle.

  • May 17, 2024

    Why The NCA's Milestone Bribery Win Is A Hard Act To Follow

    The first bribery conviction of a foreign official in Britain suggests that law enforcers are taking an increasingly active approach to investigations, although lawyers caution that it will be hard to repeat the use of undercover officers secretly recording suspects in financial crime cases.

  • May 16, 2024

    Post Office's Ex-IT Head Says She Blocked Ex-CEO Requests

    The Post Office's former head of information technology said she blocked phone communication from former chief executive Paula Vennells after Vennells contacted her for help to "avoid an independent inquiry" into the wrongful prosecutions of sub-postmasters, according to a document made public in the probe Thursday.

  • May 16, 2024

    Meta Hit With EU Probe Over Child Safety Concerns

    Meta was hit on Thursday with an investigation by the European Commission over concerns its Facebook and Instagram services could promote addictions in children.

  • May 16, 2024

    NCA Says Uyghur Cotton Probe Would Soon Unravel

    The National Crime Agency defended on Thursday its decision to refuse to investigate imported cotton produced in a Chinese province with forced labor, telling an appeals court that it would be kneecapped by the difficulty of separating legal goods from criminal property.

  • May 16, 2024

    FCA Charges Reality TV Stars Over Risky Investment Ads

    The Financial Conduct Authority said Thursday it has charged nine social media influencers and reality TV stars for promoting an unauthorized trading scheme online that dealt with high-risk financial products tied to foreign exchange rates. 

Expert Analysis

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • How Sustainability Directive Will Contribute to EU Regulation

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    The EU Sustainability Directive, in potentially enhancing certain obligations and setting a new benchmark for environmental and human rights due diligence practices, is a significant piece of legislation that will likely support the broader legal framework of other laws in a developing legal puzzle, say Rebecca Chin and Silke Goldberg at HSF.

  • Experian Ruling Helps Cos. Navigate GDPR Transparency

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    In Information Commissioner v. Experian, the Upper Tribunal recently reaffirmed the lawfulness of the company's marketing practices, providing guidance that will assist organizations in complying with the GDPR’s transparency obligations, say lawyers at Jenner & Block.

  • Clarity Is Central Theme In FCA's Greenwashing Guidance

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    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.

  • What The EU Sustainability Directive Will Mean For Companies

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    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.

  • 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.

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