Corporate Crime & Compliance UK

'Still Early Days': A Litigation Funder Stays Optimistic

As part of a series of interviews with lawyers, class representatives and litigation-funders to mark the 10-year anniversary of the collective proceedings order regime, Law360 spoke to Neil Purslow of Therium Capital Management about the future of litigation funding for CPOs in the wake of the Supreme Court's PACCAR ruling.

'We Didn't Have A Precedent': Lawyers Test New Regime

As part of a series of interviews with lawyers, class representatives and litigation-funders to mark the 10-year anniversary of the collective proceedings order regime, Law360 spoke to Boris Bronfentrinker and Ricky Versteeg — lawyers on opposite sides of the courtroom — about the watershed Mastercard swipe fees case.

'A Challenge We Have To Rise To': Class Reps Take The Stage

Launching a series of interviews with lawyers, class representatives and litigation-funders to mark the 10-year anniversary of the collective proceedings order regime, Law360 spoke to Justin Gutmann and Rachael Kent about how the role of class reps has evolved in the decade since CPOs were introduced

10 Years On, CPO Regime's Success Hinges On Payouts

It's 10 years since the U.K. government approved legislation for opt-out collective actions, but lawyers believe it is still too early to tell whether the regime is working as it should be judged by what money ends up in the hands of consumers.

April 02, 2025
Ex-Metro Bank CFO Followed Legal Advice Over £900M Error

Metro Bank PLC's former chief financial officer, David Arden, said at a London tribunal Wednesday that he had followed legal advice when preparing to publish a market announcement at the center of a £900 million ($1.1 billion) reporting scandal, arguing he and the bank's former chief executive officer should not face "career-ending allegations" for doing so.
April 02, 2025
Consumers Tell UK Justices Car Dealers Owe Transparency

Consumers bringing a test case on motor finance commissions told the U.K. Supreme Court in a hearing Wednesday that car dealers arranging financing for the purchase of vehicles were acting as "classic" credit brokers and owed a duty to act in borrowers' best interest.
April 02, 2025
Law Firms Urged To Turn Up Client Wealth Scrutiny

Solicitors in England and Wales must demand credible explanations for clients' wealth, or risk the public seeing firms as enablers of "kleptocracy, state capture and grand corruption," a charity task force warned Wednesday.
April 02, 2025
Top UK Court Says Arraignment Failure Won't Void Conviction

Britain's top court on Wednesday reinstated the conviction of a man who was found guilty of murder for a second time after a retrial, ruling that convictions should not be overturned because of a procedural failure to conduct a second arraignment.
April 02, 2025
Enablers In The Spotlight As First Al-Fayed Claims Emerge

Employers that allow sexual misconduct to go unpunished in the workplace are increasingly likely to be held liable, lawyers warn, as five women who worked for the late billionaire Mohamed Al-Fayed launch claims against his estate.
April 02, 2025
Class Rep Says Appeal Court Entitled To Allow £2.7B FX Claim

A class representative said Wednesday that the Court of Appeal was entitled to allow a £2.7 billion ($3.5 billion) foreign exchange claim to go ahead as an opt-out class action, arguing Britain's specialist competition tribunal was wrong to effectively end the proceedings.
April 02, 2025
Experian Completes $350M Deal For Brazil Biz ClearSale

Multinational Experian PLC said Wednesday it has completed its acquisition of Brazil-based ClearSale SA in a $350 million deal that the credit reference agency said will broaden its offering to include transaction fraud detection in account opening.
April 02, 2025
Ankle Tag Maker Sues Sacked CEO Over Ties To Shareholders

A company which makes technology for monitoring people remotely has brought legal action against its ousted chief executive, alleging that she lied about her interest in the company's shareholders and stole funds from the business.
April 02, 2025
Funeral Director Charged With Fraud Over Care For The Dead

Prosecutors have charged a funeral director in northern England with fraud and false representation as part of a major investigation into the way the remains of dozens of the recently deceased were cared for and managed.
April 02, 2025
'Snow White' Email Shows Staley's Ties To Epstein, FCA Says

The inability of former Barclays boss Jes Staley to remember "now infamous" emails with Jeffrey Epstein undermines his credibility and his attempts to overturn his ban for lying about his ties to the sex offender, the Financial Conduct Authority said Wednesday.
April 02, 2025
Former Wyelands Director Fined £72K For Risky 'Failings'

The Bank of England's regulatory arm said Wednesday that it has fined George Hambro, a former non-executive director of Wyelands Bank PLC, £72,000 ($93,000) for failings that threatened the safety of the now-inactive lender.
April 02, 2025
Deutsche Bank Units Fined €25M In 'Greenwashing' Case

Two subsidiaries of Deutsche Bank AG have been fined a total of €25 million ($27 million) for failing to fulfill environmental, social and governance promises in promotional materials for investment products, the Frankfurt Prosecutor's Office said Wednesday.
April 01, 2025
Celtic Football Club Settles Sex Abuse Cases For £1M-Plus

Celtic Football Club has agreed to settle numerous sexual abuse claims brought by former members of the club's boys team for a seven-figure sum, the law firm representing the claimants announced Tuesday.
April 01, 2025
DWF Avoids Doc Request In Health Data Breach Claim

DWF Law LLP dodged an order in court Tuesday to hand over documents to three people who allege that the law firm unlawfully shared their health data, after a London judge concluded that the request was merely a fishing expedition.
April 01, 2025
Major Banks Appeal To Block Class In £2.7B Forex Case

A group of major banks accused the Court of Appeal on Tuesday of circumventing Britain's specialist competition tribunal when it allowed a £2.7 billion ($3.5 billion) foreign exchange claim to go ahead against them as an opt-out class action.
April 01, 2025
Motor Finance Ruling Was 'Egregious Error,' Lenders Say

Motor finance firms urged the U.K. Supreme Court on Tuesday to overturn findings that car dealers owed a legal duty to act in the interests of their customers, as a landmark hearing that could determine the size of compensation bills begins.
April 01, 2025
Ex-SFO Bribery Chief Rappo Exits Reed Smith After 21 Months

A former joint head of the Serious Fraud Office's bribery and corruption unit has left Reed Smith LLP after less than two years working as a partner for its global regulatory investigation and enforcement practice.
March 31, 2025
France Fines Apple €150M For App Tracking Policy

France's competition enforcer fined Apple €150 million ($162.3 million) on Monday for its rollout of a policy designed to give users more control of the data apps can track over concerns that it hindered small publishers and others that rely on data collection to finance their business.
March 31, 2025
Billions On The Line As Justices Weigh Motor Finance Appeal

Britain's highest court will consider on Tuesday whether hidden commission payments made by lenders to car dealers were unlawful in a case that could leave banks on the hook for billions of bounds in damages and have legal ramifications far beyond motor finance.
March 31, 2025
Primark Chief Steps Down Over Probe Into Social Conduct

Primark's parent company said Monday that the high street clothing chain's chief executive has resigned following an internal investigation by Herbert Smith Freehills LLP into his behavior toward a woman.
March 31, 2025
Phone Cos. Fighting £3.3B Loyalty Penalty Class Action

A group of mobile phone giants on Monday fought to block a £3.28 billion ($4.24 billion) class action alleging the companies charged customers so-called loyalty penalties, telling the U.K.'s antitrust tribunal it should not green-light the case.
March 31, 2025
Developer Sues Construction Co. For £2.4M Cartel Losses

A building developer has sued a construction company for almost £2.4 million ($3.1 million) at the Competition Appeal Tribunal over alleged losses resulting from a demolition and asbestos removal services cartel that spanned five years.
March 31, 2025
Trump, Starmer Discuss Averting US Tariffs On UK Goods

President Donald Trump and Prime Minister Keir Starmer discussed a possible deal between the U.S. and the U.K. to avoid U.S. tariffs from being imposed on goods such as cars and metals, the British government confirmed.
March 31, 2025
Bank Says Caribbean Decision Blocks £415M VAT Fraud Case

A Caribbean bank argued in court Monday it could not be sued in England over a £415 million ($537 million) value-added tax fraud, because the matter had already been resolved by a judgment in Curaçao.
March 31, 2025
Al-Fayed Estate To Face Legal Claims Over Sexual Abuse

Five alleged victims of abuse by Mohamed al-Fayed are planning to launch personal injury claims against the estate of the billionaire, who died in 2023, solicitors acting for the group said Monday.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

Issues To Watch At ABA's Antitrust Spring Meeting

Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
New UK Short Selling Rules Diverge From EU Regs

Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
How New EU Product Liability Directive Will Affect Tech And AI

While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
What Latest FCA Portfolio Letter Means For Payments Firms

Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
ECB Guide Targets Harmonized Cyber Testing Approach

The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
Court Backlog Could Alter Work Safety Enforcement Priorities

While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.
New CMA Powers Will Change Consumer Protection Regime

The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
Opinion

Prospects For New Fraud Prevention Prosecution Look Slim

With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
What's Next After FCA Drops Troubled 'Name And Shame' Plan

A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
What To Note In EU Tech Transfer Agreements Consultation

Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.
UK Refusal Of US Extradition Request May Set New Standard

The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
Insights On ESMA's Alternative Investment Fund Consultation

Aaron Mulcahy at Maples Group discusses key points from the European Securities and Markets Authority’s recent consultation on open-ended loan-originating alternative investment funds, highlighting the growth in semi-liquid evergreen funds and explaining ESMA’s proposed standards.
How UK Supreme Court May Assess Russia Sanctions Cases

In two recent U.K. Supreme Court cases challenging the U.K. Russia sanctions regime, the forthcoming judgments are likely to focus on proportionality and European Convention on Human Rights compatibility, and will undoubtedly influence how future challenges are shaped, says Leigh Crestohl at Zaiwalla.
How EU Digital Act Could Shape UK Technology Disputes

Noncompliance with the recently effective European Union Digital Operational Resilience Act will add layers of complexity to disputes and litigation for U.K.-based firms servicing EU entities, but international standards may serve as a bridge between jurisdictional and contractual misalignments, says Siobhan Forster at Alvarez & Marsal.
Key Findings From EU Report On Antitrust Remedies

Although the European Commission’s recent report assessing the effectiveness of its antitrust policy on behavioral remedies is not binding, it may influence future cases and promote coherence, providing useful insights for national competition authorities and courts when considering remedies in their own jurisdictions, say lawyers at Paul Weiss.