Corporate Crime & Compliance UK

  • November 12, 2024

    Biffa Sues Contractor For £2M Over Waste Scheme Tax Scam

    Biffa is suing one of its contractors for £2.2 million ($2.8 million) for allegedly conspiring with two other waste management companies to disguise their waste in a scheme to secure lower tax rates.

  • November 12, 2024

    NHS Medic Loses Appeal Over Health & Safety Whistleblowing

    A paramedic has failed to convince a London appeals judge that a National Health Service trust punished him for blowing the whistle on an emergency call handler's health and safety failings.

  • November 12, 2024

    BoE, Regulators Set Out Regime For Critical Third Parties

    The Bank of England and other City regulators set out new rules on Tuesday for critical third parties such as cloud service providers used by finance firms to reduce the risk of failure and disruption to the market.

  • November 12, 2024

    New Defined Benefit Pension Funding Code Goes Live

    A long-awaited funding code for defined benefit retirement savings plans in the U.K. went live on Tuesday, introducing what the pensions minister described as a "stronger set of standards" for the sector.

  • November 12, 2024

    FCA Strengthens Disclosure Process In Enforcement Cases

    The Financial Conduct Authority has said it has improved its process for disclosing evidence to individuals and companies under investigation in regulatory enforcement cases, a move designed to cut the risk of omitting necessary documents.

  • November 12, 2024

    Metro Bank Fined £16M For Failed Money Laundering Controls

    Metro Bank PLC has been fined more than £16.6 million ($21.2 million) for not having proper systems to detect potential money laundering activity for more than four years, the financial watchdog said Tuesday.

  • November 11, 2024

    Barings Lawyers Cleared Of Misleading Clients In SRA Case

    A tribunal has dismissed a case against two senior lawyers at the consumer finance firm Barings Ltd. who were accused of misleading clients over payday loans claims and sending out letters on behalf of fictional clients, including Mickey Mouse.

  • November 11, 2024

    Rival Amazon Claims Compete To Lead Retailers' Class Action

    Lawyers representing two proposed rival class actions faced off at the Competition Appeal Tribunal on Monday as they vie to represent thousands of third-party Amazon retailers that claim the technology giant abuses its dominant position to boost its sales.

  • November 11, 2024

    Motorola Fights UK Watchdog's Emergency Network Price Cap

    Motorola asked the appellate court Monday to toss a decision by the antitrust watchdog that restricted how much the tech giant can charge Britain's emergency services to use its Airwave network, saying the limitation was based on errors in market calculations.

  • November 11, 2024

    Ex-BGC Broker Accused Of Hiding Assets In £23M Fraud Case

    A former BGC Partners employee faces a potential jail sentence after the U.S. financial services company accused him at a London court on Monday of hiding his assets in breach of restrictions imposed after a £23.5 million ($30.25 million) fraud against the business.

  • November 11, 2024

    RPC's Sam Tate On DPAs, Fraud And The Appeal Of Plumbing

    Sam Tate — now head of white-collar crime at RPC — decided to be a lawyer at the age of 11. Here, he tells Law360 about growing enforcement burdens on companies, problems surrounding the U.K.'s compensation models for whistleblowers and overseas victims, and how Nick Ephgrave's first year as SFO director stacks up.

  • November 11, 2024

    FCA Fines Director Of Insurer For Misusing Money

    The Financial Conduct Authority said Monday that it has banned the former director of an insurance broker from working in financial services and fined him £1.1 million ($1.4 million) for misusing money that was owed to insurers.

  • November 10, 2024

    SRA Closed 43 Firms For Mishandling Client Money In 2023

    The closure of Axiom Ince Ltd. by the solicitors' watchdog was just the tip of the iceberg, as new data shows that the regulator was responsible for shuttering more than 10% of all law firms which folded in 2023.

  • November 08, 2024

    Cohen & Gresser Taps French Firm For White Collar Pro

    Cohen & Gresser LLP has recruited a white collar expert in France to augment its capabilities representing clients in international regulatory investigations and cases involving allegations of financial crimes.

  • November 08, 2024

    Oligarch's Estate Resists Fraud Claim In $3B Inheritance Fight

    The estate of a Russian cement tycoon has resisted claims by his widow and daughter that the businessman plotted to defraud them of their inheritance as part of a battle over more than $3 billion worth of assets.

  • November 08, 2024

    Apache To Pull North Sea Investments Over UK Windfall Tax

    Texas-based oil giant Apache Corp. said Friday that it will wind up its North Sea oil operations by 2030 in response to the U.K.'s plan to raise the energy profits levy — known as the windfall tax — by 3 percentage points.

  • November 08, 2024

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

    This past week in London has seen collapsed German airline Air Berlin take action against its former auditor KPMG, the associate editor at The Spectator hit with a libel claim by a mosque over the far-right riots that took place in August and British licensing authority the Performing Right Society sue Parklife Manchester and four other festival organizers. Here, Law360 looks at these and other new claims in the U.K.

  • November 08, 2024

    Insurers Urge Shared Approach To Define Major Cyber-Events

    Limited historical evidence about major cyber-events makes it difficult to define the risks insurers face, experts have said, as they urge businesses to consider a shared approach when they describe "one of the most" prominent dangers to the sector.

  • November 08, 2024

    Auditor Blames Lendy's Misstatements For Investor Losses

    An auditor has admitted it made mistakes when it vetted a lending platform's accounts but denied the failures caused investors to lose an alleged £15.6 million ($20.2 million), claiming the platform had fraudulently misrepresented its financial health.

  • November 08, 2024

    Shipowner Wins OK To Sell Oil Stranded At Sea By Sanctions

    A shipowner can sell crude oil that was stranded at sea when the charterer was placed on a U.S. sanctions list, a London judge said Friday, ruling the cash from the ultimate buyer can be paid into the English courts.

  • November 08, 2024

    Nigerian Oil Mogul Wins Fight To Lift $33M Freezing Order

    A Nigerian oil and gas magnate won his battle to scrap a $33 million freezing order on Friday, as a London court ruled that he was not likely to dissipate his assets to avoid paying a fuel trader.

  • November 08, 2024

    Lawyers Deny Giving Bad Advice On £635K Crypto-Fraud

    A boutique investment law firm has denied providing "valueless advice" to an alleged victim of a cryptocurrency fraud on how to recover her money, and said it helped to secure a freezing order against the fraudsters.

  • November 07, 2024

    Binance Cites AML Breaches In €144M Solaris Debit Card Row

    A Binance company has hit back at online banking group Solaris' €144 million ($156 million) claim over a collapsed cryptocurrency debit card scheme, telling a London court it was entitled to end the deal after Solaris companies broke anti-money laundering rules.

  • November 07, 2024

    UK Sanctions Mercenaries Tied To Russia's War Machine

    The U.K. government on Thursday sanctioned 56 companies and individuals operating in Africa that it said were responsible for supporting Russia's military industrial complex, in the largest wave of restrictions since 2023.

  • November 07, 2024

    5 Lessons For Lawyers From The UK Gov't Anti-Fraud Advice

    Britain's largest companies face a challenge after being given 10 months to build safety rails to stop their employees committing fraud, lawyers say, after the government released advice on how they should comply with landmark anti-fraud legislation.

Expert Analysis

  • Post Office Scandal Stresses Key Directors Duties Lessons

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    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.

  • Employer Tips For Handling Data Subject Access Requests

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    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.

  • Comparing UK And EU's View On 3rd-Party Service Providers

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    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.

  • CMA Road Map Helps Cos. Prepare For UK Digital Markets Bill

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    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.

  • 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.

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