Corporate Crime & Compliance UK

  • November 19, 2024

    Court Staffer Fired For Bad Performance, Not Race

    An usher who left an East London courtroom unattended, allowing a member of the public to enter and "violently throw a holy book on the court floor," has lost her race discrimination case after a tribunal found that she was dismissed because of her performance.

  • November 19, 2024

    Airbnb Ireland Puts Aside $1B For Tax Investigations

    Airbnb has put aside €950 million ($1 billion) in Ireland during talks with the Italian Revenue Authority over a tax audit, according to company accounts reported in Irish media.

  • November 19, 2024

    Russian Pipeline Giant Fights Oligarch's Conspiracy Claim

    Lawyers for Russian pipeline giant PJSC Transneft urged a London court Tuesday to toss out a claim by a jailed oligarch accusing it of foul play in a sale of shares, saying the deal was above board and approved by shareholders.

  • November 19, 2024

    FCA Charges 4 Men With Fraud Over Collapse Of Credit Union

    The Financial Conduct Authority has charged four men with fraud over the collapse of a credit union for cab drivers that required a £21 million ($26.6 million) payout to more than a thousand customers from a government bailout scheme six years ago. 

  • November 19, 2024

    Trader Can't Get Sentence Cut For £1.2M Boiler Room Fraud

    A man imprisoned over a plot to trick his victims out of £1.2 million ($1.5 million) failed to get his sentence cut as a court ruled Tuesday that a judge had earlier correctly assessed his culpability in the boiler room fraud.

  • November 19, 2024

    FCA Updates Insider-Trading Detection Measure

    The financial watchdog said Tuesday that it has changed the way it calculates its market cleanliness statistic, a tool that detects insider trading by tracking unusual stock price movements before takeover announcements.

  • November 18, 2024

    EU Members Face Choice Over Trump Tax Stance, Group Says

    Member states of the European Union will have to pick a side if President-elect Donald Trump's incoming administration abandons global tax reform, the Tax Justice Network said Monday.

  • November 18, 2024

    Panama Foundations Fight Jurisdiction In $3.7B Asset Row

    Two Panama-based foundations caught up in an international dispute over a late Russian oligarch's $3.7 billion fortune urged a London court to reject arguments they defrauded his daughter out of ownership of a company, arguing Panamanian courts had ruled against her.

  • November 18, 2024

    SFO Closes Bombardier Bribery Probe, Will Help US, Canada

    The U.K.'s Serious Fraud Office announced Monday that it was closing a four-year bribery and corruption probe into Bombardier Inc. over sales to Indonesia's national carrier but said it would continue to assist U.S. and Canadian authorities.

  • November 18, 2024

    Pinsent Masons Launches AI Tool, Hires Transformation Head

    Pinsent Masons LLP on Monday expanded its artificial intelligence offerings and the firm's ability to deliver services to customers, announcing the launch of an AI-backed anti-money laundering tool and the addition of a transformation director with experience at Barclays.

  • November 18, 2024

    FCA Bans Director Following Wounding Conviction

    The U.K.'s financial regulator said Monday that it has banned a man from working in financial services after he told them he was looking for business opportunities overseas while he was serving a prison sentence for stabbing a man in the neck.

  • November 18, 2024

    HMRC's £167M Charges To Reuters Group Deemed Lawful

    A London court backed HM Revenue & Customs in a case over more than £167 million ($212 million) in diverted profits tax charges issued to U.K. companies in the Thomson Reuters media group.

  • November 18, 2024

    Aldermore Analyst Loses Bid For Pay Over Alleged IP Breach

    A bank analyst can't get compensation as she accuses Aldermore Bank of punishing her for whistleblowing about a data breach, after an employment tribunal ruled that her claims would likely fail at trial.

  • November 18, 2024

    Over 5,000 Woodford Investors Sue Hargreaves Lansdown

    More than 5,000 investors in a fund run by stock picker Neil Woodford are suing Hargreaves Lansdown over the fund's collapse, a group claim that is expected to exceed £200 million ($253 million), according to claims manager RGL.

  • November 18, 2024

    Retailers Passed On Swipe Fees To Shoppers, Visa Says

    Retailers suing Visa over charging unlawful interchange fees should get only limited damages because they mitigated their losses by passing on the cost of the fee to consumers, the card company told a tribunal on Monday.

  • November 18, 2024

    FCA Finds Failings In How Firms Identify Insider Info

    The Financial Conduct Authority has warned that companies issuing shares to the public are taking differing approaches to how they identify and distribute insider information, finding that some are taking potentially unlawful action.

  • November 18, 2024

    US Pushes For UK Trader's Extradition In Insider Dealing Case

    The U.S. government urged Britain's highest court on Monday to approve the extradition of a British trader to face insider dealing charges, arguing that the alleged crimes were felt in America even though the conduct took place abroad.

  • November 15, 2024

    Sidhu's Power Held Woman In Hotel Room, She Testifies

    A woman who has accused former Criminal Bar Association Chair Jo Sidhu KC of sexual misconduct told a disciplinary tribunal Friday that the barrister's seniority and influence stopped her from leaving a hotel room where she alleged that he touched her.

  • November 15, 2024

    OFSI Expands Sanctions Rules In Bid For More Intelligence

    Britain's sanctions enforcer has introduced new rules requiring a greater number of businesses to report potential breaches of restrictions imposed following Russia's invasion of Ukraine, closing gaps for the likes of precious metal traders, art dealers, insolvency practitioners and letting agencies. 

  • November 15, 2024

    Ireland Forecast To Gain Budget Surplus From Apple Case

    The Irish government's budget surplus is expected to rise to 4.4% of gross domestic product next year, much of that as a result of the European Court of Justice's ruling against U.S. tech giant Apple, according to an economic forecast published Friday.

  • November 15, 2024

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

    This past week in London has seen Ocado file an intellectual property claim against an African fruit and vegetable importer, a claim filed against a Swiss bank founded by Indian billionaire Srichand Parmanand Hinduja and 300 individuals sue travel company TUI. Here, Law360 looks at these and other new claims in the U.K.

  • November 15, 2024

    Sun Hacking Trial Narrows To Just Prince Harry, Tom Watson

    Former U.K. government minister Vince Cable and dozens of others have settled their phone hacking claims against the publisher of the Sun tabloid, leaving only Prince Harry and Labour peer Tom Watson to progress to the upcoming trial, according to court filings made public Friday.

  • November 15, 2024

    LSB Seeks Feedback On New Economic Crime Guidance

    The Legal Services Board on Friday called for feedback on draft guidance designed to help regulators tackle money laundering, fraud and sanctions evasion as the government continues to crack down on economic crime.

  • November 15, 2024

    UK Vows To Fund Tax-Fraud Fight As HMRC Probes Slump

    The government has pledged to throw money at the fight against tax fraudsters in the U.K. as investigations by HM Revenue and Customs into high-value cases have hit a new low, raising concerns over whether it has the capacity to tackle the most serious probes.

  • November 14, 2024

    Icelandic Artist Loses TM Case Over Fake 'Fishrot' Apology

    An Icelandic seafood company won its claim against a performance artist and activist on Thursday over allegations that he created a website impersonating the company to publish a fake apology about its involvement in the so-called fishrot scandal.

Expert Analysis

  • 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.

  • 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.

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