Corporate Crime & Compliance UK

  • March 20, 2024

    UK Pension Fraud Fund To Pay Out £416M To Victims By 2026

    The U.K.'s pension lifeboat scheme said Wednesday it expects to pay up to £416.7 million ($530 million) in compensation to members of pension schemes that have been hit by scams.

  • March 20, 2024

    Russian F1 Driver's EU Sanctions Over Oligarch Father Lifted

    A Formula One racing driver and son of a Russian oligarch has won his fight to lift European Union sanctions, with a court ruling Wednesday there was insufficient evidence to prove that his business interests were benefiting from his fathers' wealth.

  • March 20, 2024

    Belarusian Tire Maker Wins EU Sanctions Challenge

    The European Union unlawfully imposed sanctions on a state-owned Belarusian tire business because it failed to prove that the company was supporting the country's president, a European court ruled Wednesday.

  • March 20, 2024

    Ex-Russian Minister Fails To Renew Bid To Jail Deripaska

    The Court of Appeal dismissed on Wednesday an attempt by Vladimir Chernukhin, a former Russian minister, to have his ex-business associate Oleg Deripaska jailed for contempt of court, finding that a judge had been entitled to conclude the case had not met the criminal standard of proof.

  • March 20, 2024

    EU Commission Builds 'Toolkit' To Fight Counterfeiting

    The European Commission has adopted new measures to crack down on counterfeiting aimed at strengthening intellectual property rights by increasing the sanctions for criminal offenses while also designating a single contact point for enforcement issues. 

  • March 20, 2024

    Prince Harry, Others Bid To Pull Murdoch Into Privacy Claim

    Prince Harry and other claimants urged a London court on Wednesday to allow them to add allegations about the use of private investigators to their claim against tabloid publisher News Group, saying that leading figures in the company including Rupert Murdoch were involved in an alleged cover-up.

  • March 20, 2024

    AI Misuse Will Drive Cyber Insurance Demand, Actuary Says

    The use of artificial intelligence by criminals and other evolving threats will boost demand for cyber-insurance for at least the next decade, according to analysis published Wednesday by actuarial consultancy OAC.

  • March 20, 2024

    Journalist Can Sue UAE Over Alleged Hacking, Court Says

    A court has given a British journalist the green light to sue the United Arab Emirates over its alleged use of spyware to infiltrate her mobile phone, in the first U.K. case of its kind, lawyers for the reporter said on Wednesday.

  • March 20, 2024

    Hemp Co. Wins Bid To Reverse 'Irrational' UK Gov't CBD Ban

    A hemp company has won its bid in a London court for permission to challenge the U.K. government's decision to ban imports of its cannabis-derived products based on a trace of a controlled chemical.

  • March 20, 2024

    UK Gov't Launches Plan To Reverse Litigation-Funding Fallout

    The government has published a two-clause bill designed to overturn a ruling by Britain's Supreme Court that threatened the status of many litigation-funding agreements, ending most of the speculation about how the effects of the decision will be nullified.

  • March 20, 2024

    EU Insurers Warn Regulators Of Gaps In Greenwashing Rules

    European insurers have urged the bloc's insurance and pensions watchdog to be consistent and clear with its greenwashing rules for investment products, pointing to discrepancies between jurisdictions and inconsistencies with other sustainability frameworks.

  • March 20, 2024

    Dentons AML Ruling Deals Blow To SRA's Enforcement Plans

    The failure by the Solicitors Regulation Authority to secure a sanction against Dentons over the firm's handling of anti-money laundering checks on a former client is a blow to the regulator's enforcement ambitions which – if upheld – could prompt caution in future prosecutions, lawyers say.

  • March 20, 2024

    Ex-LC&F Chief Says SFO And FCA 'Wrecked' His Career

    A former director of London Capital & Finance had his career "wrecked" by the finance regulator and fraud investigation agency when they forced the investment company into administration without reason, his lawyers said at his trial Wednesday.

  • March 20, 2024

    Woman Guilty Of Laundering Proceeds Of £5B Bitcoin Fraud

    A British-Chinese woman has been convicted of money laundering in London over allegations that she helped a fugitive Chinese national launder bitcoin converted from a £5 billion ($6.3 billion) investment fraud, it can now be reported.

  • March 20, 2024

    Imprisoned Money Laundering Boss Ordered To Pay £3.5M

    The imprisoned ringleader of a money laundering network that smuggled tens of millions of pounds in criminal cash out of the U.K. to the United Arab Emirates has been ordered to repay £3.5 million ($4.4 million), the National Crime Agency has said.

  • March 20, 2024

    FCA Warns Pension Advisers Over Treatment Of Customers

    The Financial Conduct Authority urged pension advisers on Wednesday to look at how well they are considering the needs of their clients after a sweeping review of the sector found significant shortfalls at some companies.

  • March 20, 2024

    Google Fined €250M By France For Media Copyright Breaches

    France's competition regulator said Wednesday that it has hit Google with a €250 million ($271 million) fine for using content from news agencies without alerting them or payment.

  • March 19, 2024

    Aspiring Atty Should Be Off HP Jury, Ex-Autonomy Execs Say

    Counsel for former Autonomy CEO Michael Lynch and another defendant accused of deceiving HP into buying Autonomy at an inflated price of $11.7 billion urged a California federal judge Thursday to dismiss a juror who contacted a federal prosecutor during voir dire seeking law career advice.

  • March 19, 2024

    Indian National Loses Tax Evasion Extradition Appeal

    A London judge ruled against Indian national Sanjay Bhandari's bid to challenge the U.K. Home Secretary's decision to order his extradition Tuesday, saying he can presume that India will not breach its extradition treaty with the U.K. by prosecuting him for additional offenses.

  • March 19, 2024

    Financial Advisor 'Siphoned' Fees In Legal Fund Fraud Case

    A former financial adviser allegedly siphoned £5.8 million ($7.4 million) from an investment fund via secret commission payments as part of a legal financing fraud, prosecutors told a London jury at the start of his criminal trial Tuesday.

  • March 19, 2024

    NMC Healthcare And Dubai Islamic Bank Settle Global Suits

    United Arab Emirates hospital operator NMC Healthcare and Dubai Islamic Bank announced on Tuesday that they have reached an out-of-court settlement resolving all litigation between them and associated third parties.

  • March 19, 2024

    Vale Sued For £3B In Netherlands Over Brazilian Dam Collapse

    Mining giant Vale SA is facing a new £3 billion ($3.8 billion) action in the Netherlands over a dam collapse that triggered the "worst environmental disaster" in Brazil, lawyers for the claimants said on Tuesday.

  • March 19, 2024

    EU Parliament Committees Approve AML Laws

    Two European Parliament committees approved new anti-money laundering legislation Tuesday for the European Union to create a single rule book for all 27 EU countries and to establish a common enforcement authority.

  • March 19, 2024

    Metals Trader Loses Bid To Halt $500M Trafigura Fraud Case

    Metals trader Prateek Gupta failed on Tuesday to have a $500 million fraud claim from Trafigura put on hold as a judge ruled that pausing the case before full disclosure would be premature.

  • March 19, 2024

    Clydesdale Bank Beats Fraud Case Over Loan Interest Rates

    A London court dismissed on Tuesday claims that Clydesdale Bank and its former owner fraudulently misrepresented calculations for fixed interest rates on business loans and imposed unjustified charges for repaying early.

Expert Analysis

  • What 2024 Has In Store For White Collar Crime Enforcement

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    Changes in Serious Fraud Office leadership and corporate crime laws in the U.K. signal a chance to kickstart enforcement in 2024, and companies need to stay alive to risks within their business, preparing in particular for the new offense of failure to prevent fraud, say lawyers at Latham.

  • Emerging Trends From A Busy Climate Litigation Year

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    Although many environmental cases brought in the U.K. were unsuccessful in 2023, they arguably clarified several relevant issues, such as climate rights, director and trustee obligations, and the extent to which claimants can hold the government accountable, illustrating what 2024 may have in store for climate litigation, say Simon Bishop and Patrick Kenny at Hausfeld.

  • Key 2024 Arbitration Trends In A Changing World

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    As key sectors such as ESG and the global mining and commodities market will continue to generate more arbitration in 2024, procedural developments in arbitral law will both guide future arbitration proceedings and provide helpful lessons on confidentiality, disclosure and professional duty, say Louise Woods and Elena Guillet at V&E.

  • How Businesses Can Prepare For Cyber Resilience In 2024

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    With cybersecurity breaches one of the biggest threats to U.K. businesses and as legislation tightens, organizations should prioritize their external security measures in 2024 and mitigate risks by being well-informed on internal data protection procedures, says Kevin Modiri at Nelsons.

  • Regulating Digital Platforms: What's Changing In EU And UK

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    Lawyers at Mayer Brown assess the status of recently enacted EU and U.K. antitrust regulation governing gatekeeper platforms, noting that the effects are already being felt, and that companies will need to avoid anti-competitive self-preferencing and ensure a higher degree of interoperability than has been required to date.

  • Dyson Decision Highlights Post-Brexit Forum Challenges

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    The High Court's recent decision in Limbu v. Dyson, barring the advancement of group supply chain claims against Dyson subsidiaries in the U.K. and Malaysia, suggests that, following Brexit, claims concerning events abroad may less frequently proceed to trial in England, say lawyers at Debevoise.

  • How Boards Can Mitigate Privacy, Cybersecurity And AI Risks

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    In 2023, data privacy, cybersecurity and AI persist as prominent C-suite concerns as regulators stepped up enforcement, and organizations must develop a plan for handling these risks, in particular those with a global footprint, say lawyers at Latham.

  • The Outlook For UK Restructuring Plans At Home And Abroad

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    The U.K. continues to be a center for large-cap, cross-border restructurings, though its competitive edge over the EU in this regard may narrow, while small and medium-sized enterprises are already likely to avoid costly formal processes by reaching out to their secured lenders for restructuring solutions, say Paul Keddie and Timothy Bromley-White at Macfarlanes.

  • Best Legal Practices For The Holiday Party Season

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    With the holiday party season in full swing, two recent Solicitors Regulation Authority decisions serve as a useful reminder to both individuals and firms of the potential employment and regulatory consequences when misconduct is alleged to have occurred at a work event, say lawyers at CM Murray.

  • Insights For Cos. As Sustainability Reporting Goal Posts Shift

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    The European Commission’s recent measures proposing relief in sustainability reporting for small- and medium-sized enterprises mean that many businesses already preparing to comply with the Corporate Sustainability Reporting Directive will find they are still on the right path, say Sarah-Jane Denton and Alexandra Macbean at Travers Smith.

  • Foreign Assets Ruling Suggests New Tax Avoidance Approach

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    The U.K. Supreme Court's recent ruling in His Majesty's Revenue & Customs v. Fisher, which found that the scope of the transfer of foreign assets is narrow, highlights that the days of rampant tax avoidance have been left behind, and that the need for wide-ranging and uncertain tax legislation is lessening, says James Austen at Collyer Bristow.

  • Lessons To Be Learned From 2023's Bank Failures

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    This year’s banking collapses, coupled with interest rate rises, inflation and geopolitical instability have highlighted the need for more robust governance, and banks and regulators have learned that they must adequately monitor and control liquidity risk to protect against another financial crisis, say Juliette Mills and Alix Prentice at Cadwalader.

  • Key Questions Ahead Of 2024 Right-To-Work Changes

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    In 2024, the U.K. will increase the maximum civil penalty for companies hiring employees who don't have legal permission to work, so employers should work toward minimizing the risk of noncompliance, including by using an identity service provider to carry out digital right-to-work checks, says Gemma Robinson at Foot Anstey.

  • Class Action-Style Claims Are On The Horizon In 2024

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    Following the implementation of an EU directive enabling consumers to bring actions for collective redress, 2024 will likely see the first serious swathe of class action-style cases in Europe, particularly in areas such as cyber exposures, ESG and product liability, says Henning Schaloske at Clyde & Co.

  • An Overview Of European Private Investments in Public Equity

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    Although still fairly rare, private investments in public equity may continue to be an attractive option for some European issuers seeking to secure equity financing, and advisers planning such an investment should consider the various local options, requirements and norms, say lawyers at Sullivan & Cromwell.

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