Corporate Crime & Compliance UK

  • April 25, 2024

    Ex-Locke Lord Atty Loses Fight To Challenge Fraud Sentence

    A London appellate court on Thursday blocked Locke Lord LLP's former banking partner from challenging his prison sentence for taking part in a £21 million ($26.2 million) Ponzi scheme.

  • April 25, 2024

    Disciplinary Chair Wins Worker Status, Holiday Pay

    A barrister who served as a chair on the regulatory board for the Nursing and Midwifery Council has won his bid for paid annual leave, with the Employment Tribunal finding that gig economy workers must have an incentive to take holidays, so they do not swap cash for rest.

  • April 25, 2024

    Ephgrave Says SFO Must Be 'Relevant' To UK Taxpayers

    The director of the Serious Fraud Office said on Thursday that the spate of fraud investigations launched early in his tenure wasn't a deliberate policy — though he acknowledged that he wants to make the agency "relevant to the taxpayer."

  • April 25, 2024

    Compliance Officer To Face Tribunal Over Accounts Failures

    A solicitor must face a disciplinary tribunal after he allegedly failed to provide accountants' reports for two law firms in southeast England and allowed the client account of one of those firms to be used as a banking facility, the Solicitors Regulation Authority has said.

  • May 02, 2024

    White & Case Hires White-Collar Pro From Noerr In Germany

    White & Case LLP has hired the former co-head of the compliance and investigations group at Noerr to lead its internal investigations team in Frankfurt as part of a big push to expand its global white-collar practice.

  • April 25, 2024

    Firms Urge Delays To 'Unclear' FCA Greenwashing Guidance

    Financial companies are urging the City watchdog to slow its anti-greenwashing rule that comes in force in May as legal experts warn that it has failed to clarify all its expectations in final guidance, putting businesses that make the wrong call at risk of enforcement action.

  • April 25, 2024

    Police Did Not Sack Officer For Making Adult TV Complaint

    A former police officer has failed to secure provisional compensation for her dismissal after a tribunal ruled that a London policing body did not fire her for blowing the whistle on colleagues for refusing to stop watching adult television at work.

  • April 25, 2024

    Post Office Official Denies Misleading Court About IT System

    A Post Office director denied misleading the court about what she knew about the IT system used to prosecute hundreds of innocent people, as she gave evidence to the inquiry into the scandal Thursday.

  • April 25, 2024

    EU Parliament Gives Final Approval To AML Package

    The European Parliament has given the final go-ahead to a package of laws to fight money laundering and terrorist financing, creating a single rule book and establishing a dedicated agency for the bloc.

  • April 24, 2024

    Ex-Autonomy GC Tells Jurors He Wanted To Be 'Helpful' To HP

    Autonomy's former U.S. general counsel conceded Wednesday in the criminal trial of former CEO Michael Lynch that he told an HP lawyer he wanted to be as "helpful" as possible to the company as it was investigating Autonomy-related issues that popped up after the Silicon Valley giant purchased the British company, and that he was told he could face liability for his work at Autonomy.

  • April 24, 2024

    Chicago Museum Accuses New York DA Of Art Seizure Overreach

    The Art Institute of Chicago has urged a New York criminal court to give back an Egon Schiele drawing seized by the Manhattan District Attorney's Office, saying the artwork was never looted by Nazis and prosecutors have no business litigating a civil ownership dispute.

  • April 24, 2024

    Oligarch's Family Can't Nix €1.5B Bankruptcy Bid

    The widow and a daughter of the late Russian cement oligarch Oleg Bourlakov stumbled in their global legal battle with relatives over his fortune after a London judge declined to stop €1.48 billion ($1.59 billion) bankruptcy proceedings in St. Petersburg.

  • April 24, 2024

    Post Office GC Didn't Know To Disclose Witness Misled Court

    As he gave evidence to an inquiry Wednesday, the Post Office's former general counsel said external law firm Cartwright King didn't tell him that the fact that an expert witness lied to the court when testifying against subpostmasters needed to be disclosed.

  • April 24, 2024

    Feds Nab Latest OneCoin Plea On $35M Laundering Charge

    An eighth defendant has been charged by federal prosecutors over the global OneCoin cryptocurrency scam and has pled guilty to laundering about $35 million in illicit proceeds through bank accounts he controlled in China and Hong Kong.

  • April 24, 2024

    Fund Manager Denies Losing Jailed Politician's Wife £8M

    A fund manager has denied transferring €28 million ($30 million) from the account of an imprisoned Turkish politician's wife without her permission, claiming she gave written instructions to invest the money in emerging markets.

  • April 24, 2024

    Ex-England Footballer Banned As Director For Unpaid Tax

    Former England football international John Barnes has been banned from being a company director after his business failed to pay more than £190,000 ($236,000) in tax, a U.K. government agency announced on Wednesday.

  • April 24, 2024

    Boris Becker Settles With Creditors Over Missing Trophies

    Boris Becker's creditors have agreed not to chase the multiple Grand Slam tennis champion over the missing trophies he was accused of hiding to dodge paying debts, lawyers for the Wimbledon winner and bankruptcy trustees told a London court Wednesday.

  • April 24, 2024

    Ex-Law Firm Partner Fails To Toss SRA Dishonesty Allegation

    A former equity partner in a real estate conveyancing firm failed on Wednesday to have a tribunal prevent the Solicitors Regulation Authority from accusing him of dishonesty, as it ruled that an offer by the watchdog to settle did not mean he should not have expected the allegation.

  • April 24, 2024

    EU Keeps Gibraltar, Panama, UAE On AML Blacklist

    Gibraltar, Panama and the United Arab Emirates should remain on the European Union's blacklist of high-risk countries for money laundering, the European Parliament said, stopping the EU from following the lead of a global organization promoting standards for countries to fight those crimes.

  • April 24, 2024

    SFO Admits Deleting Osofsky's Phone Amid ENRC Leaks Row

    The Serious Fraud Office acknowledged on Wednesday that it "inappropriately" erased the mobile phone of its former director, Lisa Osofsky, during litigation over alleged leaks in what mining giant ENRC told a London court was a "flagrant breach" of its disclosure obligations.

  • April 24, 2024

    EU Says 3 States Aren't Correctly Following AML Law

    The European Commission said Wednesday that three European Union countries — Ireland, France and Latvia — aren't correctly implementing the bloc's laws against money laundering, meaning that the countries now have two months to correct the shortcomings.

  • April 24, 2024

    Disclosure Review Calls For Early Talks To Speed Cases

    Early talks between prosecutors and defendants could ease the pressures of disclosure in complex economic crime cases where the large volume of online evidence creates a risk that suspects will be denied a fair trial, a government-backed review advised Wednesday.

  • April 24, 2024

    IP Firm Can't Take Bid To Block Clients' Case To Top Court

    Britain's highest court has rejected a final attempt by Marks & Clerk LLP to block thousands of former clients from bringing a bribery class action over alleged secret commission payments, ruling that the law firm did not put forward any arguable legal challenges that justified an appeal.

  • April 23, 2024

    Ex-Autonomy Tech Exec Doubted 'Bizarre' $6M Deal, Jury Told

    Autonomy's ex-chief technology officer testified Tuesday in the California federal fraud trial of former CEO Michael Lynch that he had concerns about Autonomy's "bizarre" 2010 deal to sell $6 million in repackaged hardware, which prosecutors allege was never delivered and was only used to artificially inflate Autonomy's revenues.

  • April 23, 2024

    Post Office GC Felt 'Scapegoated' Over Horizon Review

    The Post Office's former general counsel felt "scapegoated" over the conclusions of an independent report she commissioned into the IT system used to prosecute hundreds of innocent people, she told the inquiry into the scandal Tuesday.

Expert Analysis

  • CMA Guidance Can Help Businesses Act On Climate Change

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    Guidance recently published by the Competition and Markets Authority, which explains how competition law applies to sustainability and climate change agreements, provides clarity for businesses seeking to collaborate and emphasizes the regulator’s open-door policy, says Andrew Maxwell at Freeths.

  • An Overview Of UK Short Selling Regulation Reforms

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    The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.

  • Supreme Court Ruling Is A Gift To Insolvency Practitioners

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    As corporate criminal liability is in sharp focus, the Supreme Court's recent decision in Palmer v. Northern Derbyshire Magistrates' Court that administrators are not company officers and should not be held liable under U.K. labor law is instructive in focusing on the substance and not merely the title of a person's role within a company, say lawyers at Greenberg Traurig.

  • What Can Be Learned From Adobe-Figma Merger Termination

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    The Competition and Markets Authority’s role in the recent termination of the proposed Adobe-Figma merger deal indicates the regulator's intention to be seen as a strong enforcer in the technology sphere, and serves as a warning for companies to address antitrust risks early on in the merger process, say Deirdre Taylor and Molly Heslop at Gibson Dunn.

  • How FCA Listing Regime Reform Proposals Are Developing

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    The Financial Conduct Authority’s recently proposed U.K. equity listings reforms maintain increased flexibility with a disclosure-based approach, but much of the new regime’s success will depend on the eligibility criteria used and whether additional governance will be required for inclusion, say lawyers at Debevoise.

  • Major EU AI Banking Ruling Will Reverberate Across Sectors

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    Following the European Court of Justice's recent OQ v. Land Hessen decision that banks' use of AI-driven credit scores to make consumer decisions did not comply with the General Data Protection Regulation, regulators indicated that the ruling would apply broadly, leaving numerous industries that employ AI-powered decisions open to scrutiny, say lawyers at Alston & Bird.

  • Key Points From Ireland's New Accountability Framework

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    The recently introduced Individual Accountability Framework is a positive step for the financial services industry in Ireland, and in contributing to cultural and practical change will encourage positive behavior and good governance for the benefit of the industry and investors, say Aongus McCarthy and Niall Esler at Walkers Global.

  • Technology And AI: 2024's Legal And Regulatory Landscape

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    Alexander Amato-Cravero at Herbert Smith discusses what businesses and their lawyers can expect in the year ahead in terms of regulation, policies and associated risks related to advancing technologies and artificial intelligence, including the need for increased internal governance and workforce engagement.

  • A Look At 2023's Landmark Insolvency Developments

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    The insolvency landscape in 2023 witnessed pivotal court decisions that will continue to shape the industry in 2024, with a focus on refining director and administrator duties and obligations, and addressing emerging challenges, says Kerri Wilson at Ontier.

  • EU And US Artificial Intelligence Regs: Comparing Key Points

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    With divergent approaches to artificial intelligence regulation in the EU and U.S. making it challenging for companies to navigate the global landscape, it is wise to adopt a proactive compliance approach and begin mapping upcoming obligations in each jurisdiction, say lawyers at Steptoe.

  • 5 Key UK Employment Law Developments From 2023

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    Key employment law issues in 2023 suggest that topics such as trade union recognition for collective bargaining in the gig economy, industrial action and menopause discrimination will be at the top of the agenda for employers and employees in 2024, say Merrill April and Anaya Price at CM Murray.

  • Looking Ahead At AI Regulation In The EU And UK

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    With AI regulation agreed upon in Europe and a U.K. regulatory authority on the horizon, organizations developing AI should consider deploying governance, addressing accountability and establishing internal guardrails to achieve a balanced approach to responsible innovation while managing risk, says Chris Eastham at Fieldfisher.

  • 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.

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