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Corporate Crime & Compliance UK
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August 24, 2024
Italian Prosecutors Open Criminal Probe Into Yacht Sinking
Italian prosecutors said Saturday that they have opened a criminal investigation into the sinking of a superyacht that claimed the lives of seven people including a partner at Clifford Chance LLP and his client, British technology mogul Mike Lynch.
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August 23, 2024
Google Faces £1B Antitrust Claim Over App Store Practices
Google was hit Friday with a £1.04 billion ($1.37 billion) claim at the U.K.'s competition regulator over alleged anticompetitive practices on its app store, adding to the tech giant's legal troubles.
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August 23, 2024
Bribery Suspect Can't Dodge Extradition Over Mental Health
A London court on Friday dismissed a bribery suspect's challenge to his extradition to South Africa, finding there are appropriate measures in place to cope with the 76-year-old's mental condition and suicide risk.
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August 23, 2024
Ex-Iraqi Minister Foils Reporting Org.'s Defense In Libel Case
An Iraqi politician has successfully persuaded a judge to throw out an investigative reporting organization's qualified privilege defense to his defamation claim, with the judge ruling Friday that an article about alleged corruption in the Iraqi oil business did not accurately reflect court proceedings.
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August 23, 2024
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen Google sue several Russian media outlets in response to challenges to the tech giant's response to international sanctions, easyGroup bring an intellectual property claim against delivery company Easycargo, and e-money business Nyavo challenge action by the Financial Conduct Authority.
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August 23, 2024
Lynch's Death Puts UK-US Extradition Under The Microscope
The death of technology tycoon Mike Lynch has triggered calls by a lawmaker to scrap Britain's extradition agreement with the U.S. amid proposals that U.K. citizens should be prosecuted at home, although lawyers say the status quo is unlikely to change.
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August 23, 2024
Oligarch Denied Bid To ID Client Linked To $20M Transfer
A judge refused Friday to let an imprisoned Russian oligarch force a group of companies to disclose the identity of a client who requested a $20 million transfer, saying that revealing the person's identity runs the risk of violating criminal law in Liechtenstein.
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August 23, 2024
HMRC Can Be Liable For Damage To Biz Shut Over £7.4M Debt
The tax authority cannot lift a court order that requires it to repay a payroll business damages for losses suffered after it was put into provisional liquidation, as a court found on Friday that it had failed to pursue that action for law enforcement purposes.
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August 22, 2024
UK Antitrust Arm Pauses Google, Apple Probes For New Law
United Kingdom antitrust authorities hit pause on investigations into Google and Apple policies allegedly locking app developers into their in-app payment systems, preferring to wait until new powers come online even as officials said commitments offered by Google aren't enough to address their concerns.
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August 22, 2024
Fidelis Denies Liability For $238M Over Stranded Planes
Fidelis has argued it should not be liable for paying out claims totaling more than $238 million over planes stranded in Russia, arguing the lessors had not been irretrievably deprived of the aircraft under the terms of the policies.
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August 22, 2024
Mike Lynch's Path From Tech Founder To DOJ Target
Friends and colleagues paid tribute to Mike Lynch following his death in a yachting accident on Thursday, hailing the British tech entrepreneur for the decades he spent furthering the industry despite the legal troubles that threatened to overshadow his career.
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August 22, 2024
'Beloved By Everyone': Attys Recall Clifford Chance's Morvillo
Clifford Chance LLP partner Christopher Morvillo, who died this week after a luxury yacht he was on sank off the coast of Sicily, is being remembered not only as a lion of the legal community but also as an "extraordinary human being" and a "Renaissance man" who was devoted to his family.
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August 22, 2024
Over 3M UK Pensioners To Be Dragged Into Higher Tax Rates
Government data shows 3.1 million U.K. pensioners will be dragged into paying higher taxes in the next four years due to the freeze on income thresholds, financial firm Quilter PLC said Thursday.
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August 22, 2024
Mike Lynch's Body Recovered From Yacht Wreck
Mike Lynch, founder of technology company Autonomy, died when a yacht he was aboard sank off the Sicilian coast, his family confirmed Friday, after a trip the entrepreneur had reportedly chartered with his legal team to celebrate their victory in a U.S. fraud case.
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August 22, 2024
Sports Hospitality Biz Shuttered Over Fake Tickets Scam
A company that scammed customers out of more than £600,000 ($787,000) by offering half-price hospitality at sold-out sporting events including Formula 1 races has been shut down, the U.K.'s Insolvency Service said Thursday.
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August 22, 2024
Insurance Conman Gets 20-Month Sentence For Bogus Claims
A fraudster has been hit with a 20-month prison sentence after he pocketed almost £12,000 ($15,700) after he used multiple identities to file fake home insurance claims under multiple identities, a London police force said Thursday.
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August 21, 2024
Top Commercial Disputes To Watch In 2nd Half Of 2024
A claim against BHP from victims of Brazil's deadliest environmental disaster, a $10 billion insurance megatrial over planes stranded in Russia and a legal challenge to the response by the U.K. financial regulator to the mis-selling scandal are just some of the trials to look out for in the second half of 2024.
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August 21, 2024
Sporting Co.'s Ex-Director Sentenced For COVID Loan Misuse
The former director of a Sussex-based sporting services company has been sentenced to eight months in prison, suspended for 12 months, and 150 hours of unpaid work for exploiting a government COVID-19 business loan, the U.K.'s Insolvency Service announced Wednesday.
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August 28, 2024
Squire Patton Hires Disputes Partner From Curtis
Squire Patton Boggs LLP has recruited a dispute resolution partner in Geneva, Switzerland, from Curtis Mallet-Prevost Colt & Mosle LLP as it looks to grow its international arbitration arsenal.
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August 21, 2024
VAT Fraudster Loses Bid To Escape Repaying £1.4M
A man involved in a £40 million ($52 million) criminal tax fraud scheme has lost a bid to avoid repaying £1.4 million as a London court ruled on Wednesday that he had failed to prove he no longer had hidden assets.
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August 21, 2024
Tribunal Lifts 21-Year Practice Ban, Praises Lawyer's 'Tenacity'
A tribunal praised a solicitor for her "tenacity" on Wednesday as it restored her to the profession 21 years after she was struck off for taking a loan from a client and paying clients' money into a personal account.
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August 21, 2024
UK Fraud Fund Pays Out £9.8M To Norton Pension Members
The pensions fraud compensation body said it has paid out £9.8 million ($12.8 million) to retirement savings plans sponsored by manufacturer Norton Motorcycles Holdings Ltd., after the company director was convicted of misappropriating funds.
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August 21, 2024
Insurers Failing To Give Customers Good Value, FCA Warns
The Financial Conduct Authority called on insurers and brokers on Wednesday to remedy failures to demonstrate that they offer fair value to customers with good outcomes.
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August 20, 2024
Insider Trading Won't Impact Pilot's Tax Sentencing Guidelines
A Manhattan federal judge found Tuesday that insider trading allegations won't bump up the guidelines sentencing range for a pilot for U.K. billionaire Joe Lewis who pled guilty to tax evasion.
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August 20, 2024
Judicial Proceedings Immunity Thwarts Whistleblower's Suit
An appellate tribunal ruled Tuesday that immunity from judicial proceedings blocks a former aide from claiming he faced groundless and malicious arbitration from his work after blowing the whistle on alleged staff mistreatment.
Expert Analysis
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In Int'l Arbitration Agreements, Be Clear About Governing Law
A trilogy of recent cases in the English High Court and Court of Appeal highlight the importance of parties agreeing to explicit choice of law language at the outset of an arbitration agreement in order to avoid costly legal skirmishes down the road, say lawyers at Faegre Drinker.
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Post Office Scandal Stresses Key Directors Duties Lessons
The Post Office scandal, involving hundreds of wrongful convictions of subpostmasters based on an IT failure, offers lessons for company directors on the magnitude of the impact that a failure to fulfill their duties can have on employees and the company, says Simon Goldberg at Simons Muirhead.
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Employer Tips For Handling Data Subject Access Requests
As employers face numerous employee data-subject access requests — and the attendant risks of complaints to the Information Commissioner's Office — issues such as managing deadlines and sifting through data make compliance more difficult, highlighting the importance of efficient internal processes and clear communication when responding to a request, say Gwynneth Tan and Amy Leech at Shoosmiths.
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Comparing UK And EU's View On 3rd-Party Service Providers
The U.K. is taking welcome steps to address the lack of direct oversight over critical third-party service providers, and although less onerous than that of the EU Digital Operational Resilience Act, the U.K. regime's proportionate approach is designed to make providers more robust and reliable, say lawyers at Shearman.
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CMA Road Map Helps Cos. Prepare For UK Digital Markets Bill
Although only provisional, the recent publication of the Competition and Markets Authority's road map for the implementation of the U.K. Digital Markets Bill demonstrates that the regulator is keen to reassure Parliament that it takes accountability seriously, and that there will be sufficient safeguards in place regarding its decision making, say lawyers at Morgan Lewis.
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Opinion
European Union Criticisms Of The FCPA Are Misguided
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.
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Key Points Of BoE Response To Digital Pound Consultation
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.
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Bribery Class Action Ruling May Revive Bifurcated Processes
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.
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Goldman Prosecution Delivers A Clear Sign Of FCA Strength
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.
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Whistleblower Pay Is A Risky Path For The SFO To Tread
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.
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The Good, The Bad And The New Of The UK Sanctions Regime
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.
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Businesses Using AI Face Novel Privacy, Cybersecurity Risks
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.
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A Look At Environment Agency's New Economic Crime Unit
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.
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Prompt Engineering Skills Are Changing The Legal Profession
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.
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Opinion
UK Whistleblowers Flock To The US For Good Reason
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.