Corporate Crime & Compliance UK

  • June 24, 2024

    Ex-Chief Of EU Lender Probed Over Corruption Allegations

    Werner Hoyer, the former head of the European Union's lending arm, is being investigated by the bloc's public prosecutor over corruption, abuse of influence and misappropriation allegations that he said on Monday were "unfounded and baseless."

  • June 24, 2024

    Dentons' Inadvertent AML Error Wasn't SRA Misconduct

    Dentons' U.K. arm failed in handling anti-money laundering checks on a politically exposed former client, but its oversight was entirely inadvertent and therefore did not amount to professional misconduct, a London tribunal has ruled.

  • June 24, 2024

    UAE Fund Can't Shake Asset Freeze As Mogul Chases £20M

    A London court agreed on Monday to continue a worldwide asset freezing order against a UAE sovereign wealth fund to allow an aviation tycoon to attempt to recover more than £20 million ($25.4 million) after a fraud allegedly assisted by a Dechert LLP partner.

  • June 24, 2024

    Charity Urges Better Ways To Fight Investment Greenwashing

    A legal environmental charity on Monday called for stronger measures to address the practice of misrepresenting financial products as environmentally friendly when they do not meet the necessary sustainability criteria.

  • June 24, 2024

    FCA Takes Action Against 3 Fund Mngrs On Risky Investments

    The financial watchdog said Monday that it has decided to ban and fine three individuals who ran fund manager SVS Securities PLC after it invested clients' pension money into high-risk bonds that have defaulted, threatening their retirement security.

  • June 24, 2024

    Apple Becomes 1st Target Of New EU Digital Markets Law

    European authorities provisionally accused Apple's App Store of violating its new digital antitrust law designed to curtail the power of Big Tech, claiming the iPhone maker's guidelines unfairly prevent developers from steering consumers to alternative platforms.

  • June 21, 2024

    UK Tax Fraud Cases Rose 49% Over One-Year Period

    The U.K. tax authority launched more criminal cases for tax fraud for the year ended June 30, 2023, increasing 49% from 63 cases for the previous year to 94, Pinsent Masons LLP said Monday.

  • June 21, 2024

    Apple Won't Offer AI Tools In EU Due To Regulatory Concerns

    Apple confirmed Friday that the tech giant isn't planning on releasing new artificial intelligence features in the European Union this year due to "regulatory uncertainties" involving the bloc's new Digital Markets Act and the potential security risks that complying with the DMA could pose to Apple users.

  • June 21, 2024

    Pay-For-Delay Drug Case Not Time-Barred, UK Tribunal Says

    The U.K. Competition Appeal Tribunal refused Friday to apply a much more restrictive statute of limitations that would toss government claims that Danish pharmaceutical company Lundbeck Ltd. and generic drug manufacturers anticompetitively agreed to delay generic competition to an antidepressant.

  • June 21, 2024

    Surveyor Wins £110K After Director's Unfounded Fraud Report

    A tribunal has ordered a surveyors company and two of its directors to pay a former trainee almost £110,000 ($139,000) after ruling that she was subject to harassment relating to her sex and victimization.

  • June 21, 2024

    Apple Can't Challenge £853M IPhone Battery Class Action

    Apple failed in its bid to challenge an £853 million ($1 billion) proposed class action that accuses it of concealing problems with batteries in the phones of 24 million customers, after an appeals court found Friday the claim had prospects of success.

  • June 21, 2024

    Part-Time Judge Gets Prison Over £1.8M Legal Aid Fraud

    A barrister and part-time judge was sentenced to three years in prison at a London criminal court Friday for fraudulently submitting false claims for criminal defense costs after he was convicted for engaging in a conspiracy to inflate legal fees.

  • June 21, 2024

    Russian Bank Founder Hit With Asset Freeze In $850M Claim

    A London judge froze the assets of the co-founder of a Russian bank in a hearing Friday, in the latest development of an $850 million fraud claim in which two Russian lenders are seeking to claw back allegedly embezzled funds.

  • June 21, 2024

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

    This past week in London has seen JD Wetherspoon sue a Welsh pub over its name in the Intellectual Property Court, ex-professional boxer Amir Khan and his wife file libel action against an influencer, the Performing Right Society hit with a competition claim over music licensing, and Manolete Partners bring action against the directors of a bust investment firm. Here, Law360 looks at these and other new claims in the U.K.

  • June 21, 2024

    Salmon Farmers Hit With £382M Price-Fixing Class Action

    Several Atlantic fish farming companies face a £382 million ($482 million) class action on behalf of millions of U.K. consumers who accuse the businesses of running a cartel to artificially inflate salmon prices.

  • June 21, 2024

    European Funds Want Laxer Rules On Derivatives Calls

    A European investment fund industry trade body has called for a reduction in proposed global rules to manage calls for extra money supporting derivatives positions intended to reduce the risk of a market crisis.

  • June 21, 2024

    Axiom Stays £65M Action As Directors Claim Bankruptcy

    A London judge ruled on Friday that shuttered firm Axiom Ince can stay its almost £65 million ($82 million) claim against its ex-director and several of his companies for allegedly misappropriating client funds, saying the main defendant has been declared bankrupt.

  • June 20, 2024

    SRA Confirms 20-Plus Investigations Into Post Office Scandal

    The solicitors' watchdog said Thursday it is running more than 20 investigations into practitioners and law firms implicated in the Post Office IT scandal — but maintained it has no plans to take enforcement action because the public is not at risk. 

  • June 20, 2024

    Mastercard Settles Retailers' Swipe Fees Group Litigation

    Mastercard has settled a class action claim brought by more than 1,900 businesses in ongoing litigation over allegations it imposed excessively high credit card fees on merchants, a person familiar with the case has confirmed.

  • June 20, 2024

    Financial Watchdog Launches First-Ever ESG Probe Into Biz

    The Financial Conduct Authority has opened its first-ever enforcement investigation into a company over climate-related issues, lawyers from an environmental legal campaign group said on Thursday.

  • June 20, 2024

    FCA Backs Police In Illegal £1B Crypto-Scheme Arrests

    The Financial Conduct Authority said Thursday that it worked with the Metropolitan Police on an operation that resulted in the arrest of two individuals suspected of running an illegal £1 billion ($1.3 billion) crypto-asset business.

  • June 20, 2024

    Tory Donor Charged With Bribing Official To Face 2027 Trial

    An entrepreneur and political donor charged with bribing a public official in the Caribbean to secure contracts for his solar power company will face trial in early 2027, a judge at a London court said Thursday. 

  • June 20, 2024

    UK Gov't Must Face War Crime Libel Claim, Top Court Rules

    A Bangladesh-born British citizen can revive his libel claim over a Home Office report that said he was guilty of war crimes after the U.K. Supreme Court ruled Thursday that it was not an abuse of process, allowing it to continue to trial.

  • June 19, 2024

    Drivers Sue Amazon Over Alleged Work Visa Scam

    A group of drivers for Amazon who say they were lured to the U.K. from Spain as part of a sophisticated visa scam have filed an employment claim against the retail giant and its logistics provider.

  • June 19, 2024

    Rosling King And Ex-Client Clash Over Negligence Claim

    Tonstate Group and its former legal counsel Rosling King LLP sought Wednesday to toss parts of each other's cases in the claim by the investment company accusing the law firm of negligently managing litigation against Tonstate's ex-CEO.

Expert Analysis

  • Opinion

    European Union Criticisms Of The FCPA Are Misguided

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    Some in the European Union have criticized U.S. enforcement of the Foreign Corrupt Practices Act for what they perceive as jurisdictional overreach, but this appears to overlook the crucial fact that jurisdiction is voluntary, and critics should focus instead on the lack of equivalent laws in their own region, say John Joy and YuTong Wang at FTI Law.

  • Key Points Of BoE Response To Digital Pound Consultation

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    Lawyers at Hogan Lovells analyze the recent Bank of England and U.K. government response to a consultation on the launch of a digital pound, finding that the phased approach to evaluating the issues makes sense given the significant potential impact on the U.K. economy.

  • Bribery Class Action Ruling May Revive Bifurcated Processes

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    The Court of Appeal's recent decision allowing the representative bribery action in Commission Recovery v. Marks & Clerk offers renewed hope for claimants to advance class claims using a bifurcated process amid its general absence as of late, say Jon Gale and Justin Browne at Ashurst.

  • Goldman Prosecution Delivers A Clear Sign Of FCA Strength

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    The recent successful prosecution of a former Goldman Sachs analyst for insider dealing and fraud is a reminder to regulated individuals that economic crime will never be tolerated, and that the Financial Conduct Authority is willing to bare its teeth in the exercise of its prosecutorial remit, says Doug Cherry at Fladgate.

  • Whistleblower Pay Is A Risky Path For The SFO To Tread

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    In a recent speech, Serious Fraud Office director Nick Ephgrave supported the payment of whistleblowers, but implementing such an extreme measure is potentially hazardous and could leave the new director a hostage to fortune, says Richard Cannon at Stokoe Partnership.

  • The Good, The Bad And The New Of The UK Sanctions Regime

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    Almost six years after the Sanctions and Money Laundering Act was introduced, the U.K. government has published a strategy paper that outlines its focus points and unveils potential changes to the regime, such as a new humanitarian exception for financial sanctions, highlighting the rapid transformation of the U.K. sanctions landscape, says Josef Rybacki at WilmerHale.

  • Businesses Using AI Face Novel Privacy, Cybersecurity Risks

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    Rapid advancements in artificial intelligence are resulting in complex privacy and cybersecurity challenges for businesses, and with the forthcoming EU AI Act and enhancement of existing laws to ensure a high common level of security, key stakeholders should be empowered to manage associated risks, say lawyers at Goodwin.

  • A Look At Environment Agency's New Economic Crime Unit

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    Sophie Wood at Kingsley Napley explains how the Environment Agency’s newly established Economic Crime Unit will pursue criminal money flows from environmental offenses, and discusses the unit’s civil powers, including the ability to administer account freezing and forfeiture orders, says Sophie Wood at Kingsley Napley.

  • Prompt Engineering Skills Are Changing The Legal Profession

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    With a focus on higher-value work as repetitive tasks are delegated to artificial intelligence, legal roles are set to become more inspiring, and lawyers need not fear the rising demand for prompt engineers that is altering the technology-enabled legal environment, say Eric Crawley, Shah Karim and Paul O’Hagan at Epiq Legal.

  • Opinion

    UK Whistleblowers Flock To The US For Good Reason

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    The U.K. Serious Fraud Office director recently brought renewed attention to the differences between the U.K. and U.S. whistleblower regimes — differences that may make reporting to U.S. agencies a better and safer option for U.K. whistleblowers, and show why U.K. whistleblower laws need to be improved, say Benjamin Calitri and Kate Reeves at Kohn Kohn.

  • 4 Ways To Prepare For EU's Digital Finance Security Law

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    Companies that will fall under the scope of the Digital Operational Resilience Act when it goes into effect next January should take several proactive steps as they prepare for new corporate governance, risk management, incident reporting and third-party contracting obligations, says Edward Machin at Ropes & Gray.

  • 4 Legal Privilege Lessons From Dechert Disclosure Ruling

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    The Court of Appeal's recent decision in Al Sadeq v. Dechert LLP, finding that evidence may have been incorrectly withheld, provides welcome clarification of the scope of legal professional privilege, including the application of the iniquity exception, says Tim Knight at Travers Smith.

  • BT Case May Shape UK Class Action Landscape

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    The first opt-out collective action trial commenced in Le Patourel v. BT in the U.K. Competition Appeal Tribunal last month, regarding BT's abuse of dominance by overcharging millions of customers, will likely provide clarification on damages and funder returns in collective actions, which could significantly affect the class action regime, say lawyers at RPC.

  • No-Poach Agreements Face Greater EU Antitrust Scrutiny

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    EU competition authorities are increasingly viewing employer no-poach agreements as anti-competitive and an enforcement priority, demonstrating that such provisions are no longer without risk in Europe, and proving the importance of understanding EU antitrust law concerns and implications, says Robert Hardy at Greenberg Traurig.

  • Key Points From EC Economic Security Screening Initiatives

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    Lawyers at Herbert Smith analyze the European Commission's five recently announced initiatives aimed at de-risking the EU's trade and investment links with third countries, including the implementation of mandatory screening mechanisms and extending coverage to investments made by EU companies that are controlled subsidiaries of non-EU investors.

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