Try our Advanced Search for more refined results
Corporate Crime & Compliance UK
-
April 30, 2024
Insurers Warn Of 'Irreparable Damage' From FCA's New Rules
An association of insurers in the U.K. warned the country's financial regulator Tuesday that its new proposal to name the firms it probes and publish information about investigations at an earlier stage will cause more harm than good.
-
April 30, 2024
Tesco Sues Truckmaker Over Emissions Price Fixing Cartel
Supermarket giant Tesco is seeking damages from Scania after the Swedish truck manufacturer was fined by the European Commission over its role in a price-fixing cartel, according to a claim filed with the U.K.'s antitrust court Tuesday.
-
April 30, 2024
Ex-DWF Barrister Disbarred Over False Discrimination Claims
A tribunal disbarred a formed DWF barrister on Tuesday after concluding that he had dishonestly targeted his boss with false allegations of homophobia and racism, possibly to deflect attention from complaints of misconduct made against him.
-
April 29, 2024
'I Don't Want To Try That Case,' Judge Tells Mike Lynch's Atty
The California federal judge overseeing Autonomy founder Michael Lynch's fraud trial over claims he duped HP into paying an inflated $11.7 billion for his company pushed back Monday against an attempt by Lynch's lawyer to introduce evidence of events that took place after the acquisition, saying, "I don't want to try that case."
-
April 29, 2024
Meta Can't Appeal Approval Of £2.3B Data Class Action
Meta was blocked on Monday from challenging a decision by the Competition Appeal Tribunal to allow a £2.3 billion ($2.8 billion) class action accusing the Facebook owner of exploiting its users' data, after the court found the appeal had "no real prospect of success."
-
April 29, 2024
DWF Barrister Made False Discrimination Claims, BSB Says
A former DWF LLP barrister is facing disciplinary action over allegations that he dishonestly and deliberately targeted his boss with false accusations of homophobia and racism.
-
April 29, 2024
Fugitive Money Launderer Forfeits Auerbach Painting, Gold
A painting estimated to be worth £1.6 million ($2 million) and gold bars have been taken from a convicted money launderer after the National Crime Agency succeeded in a bid to have them forfeited at a London court Monday.
-
April 29, 2024
Trade Bodies Want Gov't Action Over 'Damaging' FCA Rules
A group of 16 financial services trade bodies has called on HM Treasury to intervene over recent Financial Conduct Authority proposals to name companies under investigation, saying the plans could have "damaging consequences" for the U.K.
-
April 30, 2024
CORRECTED: Marketing Boss Said LC&F Was A Legitimate Biz, Not A 'Rinse'
The head of a marketing company who referred to London Capital & Finance as a "not a rinse" insisted he was not aware of an alleged Ponzi scheme as he gave evidence on Monday at the trial over the £237 million ($296 million) investment scandal. Correction: An earlier version of the story misstated the content of Careless' 2015 email exchange. The error has been corrected.
-
April 29, 2024
Ex-Man City Player Benjamin Mendy Pays £710K Tax Debt
Former Manchester City footballer Benjamin Mendy avoided bankruptcy on Monday after paying a £710,000 ($892,000) tax bill minutes before a court hearing to determine whether an order should be made.
-
April 29, 2024
Russia Sanctions Creating 'Shadow Fleet,' Insurers Warn
The increasing compliance burdens that come from a price cap on Russian oil has led to the exodus of 800 tankers from the Western insurance market, a trade association has warned.
-
April 29, 2024
FCA To Get Extra Data To Police Consumer Credit Lending
The City watchdog set out on Monday final rules that will require consumer credit lenders to give it more detailed data, enabling it to act against problem companies.
-
April 29, 2024
More Post Office Convictions Sent For Appeal
The Criminal Cases Review Commission said on Monday that it has sent the cases of five more Post Office workers who were convicted during the Horizon IT scandal to the Crown Court for appeal, the latest in a string of proceedings to head for review after the major miscarriage of justice.
-
April 26, 2024
NHS Trust Must Pay £74K, Apologize To COVID Whistleblower
A National Health Service trust must pay £73,900 ($92,300) and apologize to one of its surgeons after punishing him for blowing the whistle on the risks of face-to-face appointments amid the COVID-19 pandemic, a tribunal has ruled.
-
April 26, 2024
UK Gov't Rejects Lawmakers' Criticism Of Edinburgh Reforms
The U.K. government has rejected criticisms from the Treasury Committee that the post-Brexit financial services reform program is moving too slowly, claiming the changes are on track in a letter published Friday.
-
April 26, 2024
Businessman Gets 4 Years For Fraud During Directorship Ban
A businessman who defrauded a pensioner of £60,000 ($75,000) and ran companies while barred from doing so, has been sentenced to four years in prison, the Insolvency Service said on Friday.
-
May 03, 2024
Ex-Mishcon Head Of Risk Joins Litigation Boutique
Stokoe Partnership Solicitors has appointed Jarret Brown as its new head of compliance in a role he hopes is "going to be a little less frenetic" at a place with less "infrastructure to shift."
-
April 26, 2024
Insurer Signs First Settlement Over Russia-Stranded Planes
An aircraft lessor and an insurer have settled their fight over payouts for planes stranded in Russia after its invasion of Ukraine, the first agreement out of dozens of battles worth billions of dollars involving major insurers.
-
April 26, 2024
UK Disclosure Review Hints At Tweak, But No Overhaul
A preview of potential reforms to the disclosure process in U.K. criminal cases hints at incremental changes rather than a major overhaul as both prosecutors and defense lawyers warn that the system risks collapsing under the weight of digital evidence.
-
April 26, 2024
Sheikh Cleared Of €67M Damages Ruling Over Share Transfer
An Arab tycoon does not have to pay €67 million ($72 million) in damages for transferring shares out of his company after liquidation because the creditors failed to establish any actual loss, an English appeals court ruled Friday.
-
April 26, 2024
FCA Defends Naming Firms Under Investigation
The Financial Conduct Authority on Friday defended its proposed naming of companies under investigation in a letter to a House of Lords committee.
-
April 26, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen budget airline Ryanair file a claim against NATS PLC after the air traffic controller's system collapsed, Mastercard and Visa Europe face group claims from Christian Dior and dozens of other beauty retailers, an intellectual property clash between the publisher of The Sun and ITV, and ISC Europe sue a former director for alleged money laundering. Here, Law360 looks at these and other new claims in the U.K.
-
April 26, 2024
Patisserie Valerie Execs Deny Fraud Over Collapse
The former chief financial officer of the company behind Patisserie Valerie and three other people pled not guilty to fraud charges brought by the Serious Fraud Office on Friday over allegations they helped conceal a £10 million ($12.5 million) black hole in the bakery and café chain's books.
-
April 26, 2024
Ex-Parliamentary Researcher In Court On China Spy Charges
Former parliamentary researcher Christopher Cash and his co-defendant Christopher Berry appeared at a London criminal court on Friday charged with spying for the Chinese government.
-
April 26, 2024
HSBC Beats Investors' £1.3B Disney Film Scheme Fraud Case
HSBC fended off on Friday a £1.3 billion ($1.6 billion) fraud claim brought by hundreds of investors who alleged the bank misled them into financing a Disney movie tax relief scheme it developed which turned out to be worthless.
Expert Analysis
-
Best Legal Practices For The Holiday Party Season
With the holiday party season in full swing, two recent Solicitors Regulation Authority decisions serve as a useful reminder to both individuals and firms of the potential employment and regulatory consequences when misconduct is alleged to have occurred at a work event, say lawyers at CM Murray.
-
Insights For Cos. As Sustainability Reporting Goal Posts Shift
The European Commission’s recent measures proposing relief in sustainability reporting for small- and medium-sized enterprises mean that many businesses already preparing to comply with the Corporate Sustainability Reporting Directive will find they are still on the right path, say Sarah-Jane Denton and Alexandra Macbean at Travers Smith.
-
Foreign Assets Ruling Suggests New Tax Avoidance Approach
The U.K. Supreme Court's recent ruling in His Majesty's Revenue & Customs v. Fisher, which found that the scope of the transfer of foreign assets is narrow, highlights that the days of rampant tax avoidance have been left behind, and that the need for wide-ranging and uncertain tax legislation is lessening, says James Austen at Collyer Bristow.
-
Lessons To Be Learned From 2023's Bank Failures
This year’s banking collapses, coupled with interest rate rises, inflation and geopolitical instability have highlighted the need for more robust governance, and banks and regulators have learned that they must adequately monitor and control liquidity risk to protect against another financial crisis, say Juliette Mills and Alix Prentice at Cadwalader.
-
Key Questions Ahead Of 2024 Right-To-Work Changes
In 2024, the U.K. will increase the maximum civil penalty for companies hiring employees who don't have legal permission to work, so employers should work toward minimizing the risk of noncompliance, including by using an identity service provider to carry out digital right-to-work checks, says Gemma Robinson at Foot Anstey.
-
Class Action-Style Claims Are On The Horizon In 2024
Following the implementation of an EU directive enabling consumers to bring actions for collective redress, 2024 will likely see the first serious swathe of class action-style cases in Europe, particularly in areas such as cyber exposures, ESG and product liability, says Henning Schaloske at Clyde & Co.
-
An Overview Of European Private Investments in Public Equity
Although still fairly rare, private investments in public equity may continue to be an attractive option for some European issuers seeking to secure equity financing, and advisers planning such an investment should consider the various local options, requirements and norms, say lawyers at Sullivan & Cromwell.
-
Cos. Must Monitor Sanctions Regime As Law Remains Unclear
While recent U.K. government guidance and an English High Court's decision in Litasco v. Der Mond Oil, finding that a company is sanctioned when a designated individual is exercising control over it, both address sanctions control issues, disarray in the law remains, highlighting that practitioners should keep reviewing their exposure to the sanctions regime, say lawyers at K&L Gates.
-
Unpacking The UK's Proposals To Regulate Crypto-Assets
Recent proposals for crypto-asset regulation in the U.K. demonstrate support for crypto's potential, but there is concern around the authorization process for organizations undertaking crypto-asset activities, and new regulations will require a more detailed assessment of firms' compliance not previously addressed, say Jessica Lee and Menelaos Karampetsos at Brown Rudnick.
-
The Top 7 Global ESG Litigation Trends In 2023
To date, ESG litigation across the world can largely be divided into seven forms, but these patterns will continue developing, including a rise in cases against private and state actors, a more complex regulatory environment affecting multinational companies, and an increase in nongovernmental organization activity, say Sophie Lamb and Aleksandra Dulska at Latham.
-
Proposed Amendment Would Transform UK Collective Actions
If the recently proposed amendment to the Digital Markets Bill is enacted, the U.K.'s collective action landscape will undergo a seismic change that will likely have significant consequences for consumer-facing businesses, say lawyers at Linklaters.
-
UK Takeover Code Changes: Key Points For Bidders, Targets
Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.
-
EU GDPR Ruling Reiterates Relative Nature Of 'Personal Data'
The Court of Justice of the European Union recently confirmed in Gesamtverband v. Scania that vehicle identification number data can be processed under the General Data Protection Regulation, illustrating that the same dataset may be considered "personal data" for one party, but not another, which suggests a less expansive definition of the term, say lawyers at Van Bael.
-
How The UK Smart Regulatory Strategy Fuels AI Innovation
Eight months after the U.K. government published its artificial intelligence white paper, the Communications and Digital Lords Committee considered regulators' role regarding large language models, illustrating that the government is ramping up efforts toward solidifying the U.K.'s position as a global leader in AI regulation and development, say attorneys at Akin Gump.
-
How 'Copyleft' Licenses May Affect Generative AI Output
Open-source software and the copyleft licenses that support it, whereby derivative works must be made available for others to use and modify, have been a boon to the development of artificial intelligence, but could lead to issues for coders who use AI to help write code and may find their resulting work exposed, says William Dearn at HLK.