Corporate Crime & Compliance UK

  • July 08, 2024

    SRA Fines London Firm Over Anti-Money Laundering Failings

    The English solicitors' regulator has hit a London law firm with a fine after investigators discovered a series of failures to comply with anti-money laundering regulations.

  • July 08, 2024

    Hermer Poised To Return Independence To AG Role

    The appointment of Richard Hermer KC as attorney general in the new Labour government will restore independence to a position that had become increasingly politicized over recent years, top British lawyers say.

  • July 05, 2024

    Truckmakers Can Use Pass-On Defense In Price-Fixing Case

    European truck manufacturers can argue that local U.K. authorities suing them over a price-fixing cartel passed the inflated costs allegedly paid for vehicles on to residents through tax and service charges, a tribunal ruled Thursday.

  • July 05, 2024

    Legal Teams' Costs Slashed By £253M In UK Dieselgate Case

    Legal teams involved in unprecedented U.K "Dieselgate" vehicle emissions tests litigation had more than £250 million ($320 million) of their budgets slashed on Friday after a High Court judge ruled that the estimated costs were "out of all proportion".

  • July 05, 2024

    EU Watchdog Sets Out Sustainability Reporting Expectations

    The European Union's financial markets regulator on Friday set out its expectations on new sustainability reporting standards for large companies with shares listed on stock exchanges and their regulators.

  • July 05, 2024

    Bitcoin Fraudster Gets £1.5M Of Assets Frozen

    A London court on Friday froze assets worth over £1.5 million ($1.9 million) belonging to Craig Wright, the man who falsely claimed to be the inventor of bitcoin, to cover the costs of a cryptocurrency podcaster who had to defend against Wright's defamation allegation.

  • July 05, 2024

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

    This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.

  • July 05, 2024

    Barrister Struck Off After Buying Drugs From Clients

    A tribunal has disbarred a barrister who spent 14 months in prison after he was convicted of buying crystal meth from his drug dealer clients.

  • July 05, 2024

    Matrix KC Richard Hermer Tapped For Attorney General

    Matrix Chambers' human rights barrister Richard Hermer KC will serve as the U.K.'s attorney general in a surprise appointment from newly-elected Prime Minister Keir Starmer late Friday.

  • July 05, 2024

    Liz Kendall Tapped To Head Labour's DWP Amid Reform Talk

    The new Labour government named Liz Kendall as Secretary of State for Work and Pensions on Friday as speculation grew about looming reforms to the U.K. benefits system.

  • July 05, 2024

    Shabana Mahmood Named Labour's New Justice Secretary

    Prime Minister Keir Starmer named former barrister Shabana Mahmood as the Labour government's new justice secretary on Friday following a sweeping victory in the U.K. general election.

  • July 05, 2024

    Nordea Laundered $4B For Russians, Denmark Police Say

    Police in Denmark charged Nordic bank Nordea on Friday with allegedly laundering $3.8 billion for Russian customers, in what could be the biggest violation of the country's safeguards against dirty money.

  • July 05, 2024

    Starmer Starts Work As Cabinet Appointments Expected

    Keir Starmer, the newly elected prime minister, promised change that focuses on the economy and wealth creation as he prepared on Friday to begin appointing cabinet ministers to form the Labour Party's first government since 2010.

  • July 05, 2024

    Ex-Bird & Bird Partner Can't Ax Sexual Misconduct Case

    A former Bird & Bird LLP partner lost his fight at a tribunal on Friday to strike out a sexual misconduct case over allegations he harassed two junior female colleagues.

  • July 05, 2024

    Mastercard Fails In Jurisdiction Bid To Cut Swipe Fees Claim

    Mastercard failed Friday to knock out claims worth more than £200 million ($255 million) from a mammoth swipe fees class action after the appeals court in London said the law governing the dispute should be that of England and Wales or Scotland.

  • July 04, 2024

    Labour Gov't To Prioritize Competitive Financial Regulation

    The Labour government is expected to step up regulatory change to make the country's financial services more innovative and globally competitive, with centralized oversight of the watchdogs to ensure they help consumers and facilitate economic growth.

  • July 04, 2024

    What Labour Means For UK White Collar Crime Enforcement

    The new Labour government will introduce an "expanded fraud strategy" as part of its reform of the means to tackle financial crime. And lawyers have told Law360 that the new government will find a valuable partner in a newly energized SFO.

  • July 04, 2024

    Labour Sweeps Tories From Power In UK Election Rout

    Keir Starmer was poised to become Britain's next prime minister on Friday after his Labour Party ousted Rishi Sunak's Conservatives in a landslide general election victory, ending 14 years of Tory government with a pledge of "national renewal."

  • July 04, 2024

    WSJ Publisher Dow Jones Must Face Bankers' GDPR Claims

    The Wall Street Journal publisher Dow Jones has failed to strike out data protection allegations brought against it by two investment bankers as a London court found the claims were not a tactic to avoid the difficulties of bringing a defamation claim.

  • July 04, 2024

    Pope Aide Says Vatican 'Trapped' By UK Property Deal

    A close aide to the pope testified Thursday that he authorized payments of Є15 million ($16.2 million) to an Italian broker to regain full ownership for the Vatican of a London building at the heart a now-notorious property deal.

  • July 04, 2024

    Lender Hits Elite Law For £1.9M Over Alleged Loan Breach

    A lender has sued Elite Law Solicitors after it allegedly failed to spot that its client was a fraud and did not secure necessary protections over a £1.9 million ($2.4 million) property loan, telling a court that this has left it unable to recover its cash.

  • July 04, 2024

    Emirati Scrap Metal Sellers Lied To Secure $45M Loan

    A Dubai shipping broker and his son made false and fraudulent representations when they secured a $45 million loan arrangement from a Norwegian security agent and other lenders, a London court has ruled.

  • July 04, 2024

    Briton Wins Bid To Challenge $99M Wine Fraud Extradition

    A British businessman accused of defrauding investors out of $99 million by persuading them to make interest-bearing loans using valuable wine collections as collateral won a chance on Thursday to challenge his extradition to the U.S.

  • July 03, 2024

    Ex-Post Office Chair Says Legal Review Buried On Advice

    The former chair of the U.K.'s Post Office told a London inquiry Wednesday that he had not shared a legal review of prosecutions of subpostmasters due to advice that it would be legally privileged, despite warnings in the report that some of the convictions may have been unsafe.

  • July 03, 2024

    Royal Mail Faces £878.5M Mass Claim Over Bulk Deliveries

    The owner of Royal Mail is facing an estimated £878.5 million ($1.1 billion) collective action, as the representative of potentially 290,000 retail businesses asked the U.K.'s specialist antitrust court to approve the class claim Wednesday.

Expert Analysis

  • 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.

  • 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.

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