SRA Fights To Revive AML Misconduct Case Against Dentons

By Christopher Crosby

The solicitors' regulatory body sought on Wednesday to revive its misconduct case for alleged money laundering breaches against Dentons, arguing at a court in London that a tribunal had misunderstood the legal principles at stake.

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FCA Sets 1st Fine For Breach Of Transaction Reporting Rule

By Alex Davidson

Infinox Capital Ltd. has been fined £99,200 ($123,240) for failing to submit transaction reports and risking market abuse going undetected, in the first action of its kind under the U.K. Markets in Financial Instruments Regulation, the Financial Conduct Authority reported Wednesday.

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Bulgarian Claims Ignorance Of Russia Spy Plot

By Sophia Dourou

A member of a U.K.-based Bulgarian ring accused of spying for Russia has denied that her group had connections to the "highest echelons" of her country's government as she gave evidence at her trial on Wednesday.

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Law Firm Faces £68M Ponzi Scheme Negligence Claim Again

By William Janes

The administrators of a group of investment companies won a second shot on Wednesday at bringing a £68 million ($85 million) negligence claim against Lupton Fawcett over a Ponzi scheme as an appeals court granting the administrators permission to revive their case.

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Pension Plans Seek Trader's Testimony In $2B Tax Fraud Suit

By Kevin Pinner

Pension plans and individuals who Denmark's government alleges received fraudulent refunds have asked a New York federal court to allow U.K. court testimony into the record from a trader who Danish authorities say masterminded a $2.1 billion tax fraud, saying it shows he deceived other participants.

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Aercap Says Sanctions Don't 'Excuse' Insurers For Lost Jets

By Lucia Osborne-Crowley

Aircraft lessor Aercap told the High Court on Wednesday that insurers should have to cover losses over planes stranded in Russia because of Western sanctions imposed after the invasion of Ukraine.

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Lawyers, Ex-Tax Inspector Took £278M From Trust, Court Rules

By Eddie Beaver

A London appeals court has upheld a High Court ruling that two solicitors and a former senior tax manager devised a scheme to cut out beneficiaries from Jersey trusts in what they saw as a "huge commercial opportunity" to divert an estimated £278 million ($345 million) to themselves.

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GB News Appeals Ofcom Impartiality Case Over Political Host

By Joanne Faulkner

U.K. television network GB News sought permission from the High Court on Wednesday to challenge a ruling from the media regulator that it broke rules by allowing a politician to present news reports.

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UK Watchdog To Help Small Businesses Obtain Audits

By Alex Davidson

The Financial Reporting Council said Wednesday it has launched a year-long campaign to help small businesses get audit services to help them raise capital.

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Hogan Lovells Hires Financial Crime Pro From HSBC

By Hanna Vioque

Hogan Lovells has tapped an HSBC lawyer as the new director of its Financial Crime consulting unit, bringing decades of legal and compliance experience in the banking world.

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EU Tax Conduct Group Reelects Chair

By Josh White

The European Union's Code of Conduct Group reelected its chair for a second term to start next week, the Council of the EU said Wednesday.

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What BT Ruling Will Mean For UK Class Actions

The Competition Appeal Tribunal’s recent dismissal of a £1.3 billion mass consumer claim against BT, the first trial decision for a U.K. collective action, reminds claimants and funders of the high bar for establishing an abuse, and provides valuable insight into how pending mass consumer cases may be resolved, say lawyers at Ashurst.

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