Corporate Crime & Compliance UK

  • April 19, 2024

    EU Firms Say Strict ESG Rules Risk Chasing Off Clients

    Large banks have warned the European Union's banking regulator that its proposed guidelines for managing sustainability risks are too demanding and could drive clients away to banks outside the bloc.

  • April 19, 2024

    UK Probes Suspected Charity Funding For Pro-Hamas Agency

    The Charity Commission said Friday it has opened an investigation into the possible misuse of funds raised by charities linked to the director of a pro-Hamas news outlet who is subject to government sanctions.

  • April 19, 2024

    Prince Harry Beats Tabloid's Bid To Push Back Privacy Trial

    Prince Harry and others suing the U.K. arm of Rupert Murdoch's media empire won their battle to avoid a preliminary trial on whether their claims were brought too late after a judge refused Friday to push the case back, ruling the main trial should go ahead as planned. 

  • April 18, 2024

    Ex-BigLaw Atty Can Stay Free During OneCoin Fraud Appeal

    A Manhattan federal judge Thursday granted a former Locke Lord LLP partner's motion for bail pending appeal of his 10-year prison sentence after he was found guilty of laundering around $400 million in proceeds from the global OneCoin cryptocurrency scam, saying he does not pose a flight risk given his medical conditions.

  • April 18, 2024

    Ex-Autonomy CEO Wanted Whistleblower Fired, Ex-GC Says

    Former Autonomy CEO Michael Lynch thought a finance department whistleblower was "trying to destroy the company" and wanted him fired, the software company's former U.S. general counsel testified Thursday in a criminal fraud trial over claims Lynch conned HP into buying the British company at an inflated price of $11.7 billion.

  • April 18, 2024

    Insurers Face Appeal Over Refusal To Cover Bribery Loss

    A holding company took its fight for an insurance payout to the Court of Appeal on Thursday, urging justices to force its insurers to cover its claim for losses it sustained when its acquisition of a construction contractor went south due to bribery and corruption allegations.

  • April 18, 2024

    HMRC Opens Consultation On Payroll Tax In Freeports

    The U.K. tax authority is mulling changes to National Insurance, a payroll levy used to fund state pensions and healthcare, for employees working in special economic zones known as freeports.

  • April 18, 2024

    Womble Bond Told Post Office To Withhold Docs From Court

    Womble Bond Dickinson advised the Post Office to "suppress" key documents from the court "for as long as possible" in a case brought by wrongly prosecuted sub-postmasters, according to correspondence disclosed at the inquiry into the scandal Thursday.

  • April 18, 2024

    Head Of Chambers Accused Of Bullying By Expelled Barrister

    A barrister told an employment tribunal on Thursday that the head of an English criminal chambers put him through "absolute hell" by bullying him and trying to end his career before expelling him from the chambers.

  • April 18, 2024

    Pensions Ombudsman Probing 6 Multimillion Pound Scams

    The pensions arbitration body has told MPs that it is currently investigating 425 possible retirement scams, including six that are similar in scope to the Norton Motorcycle scandal. 

  • April 18, 2024

    SFO Vows To Be 'Bold And Pragmatic' Under New Strategy

    The Serious Fraud Office unveiled on Thursday its new five-year strategy focused on fraud prevention, the use of AI and greater use of covert intelligence, reflecting director Nick Ephgrave's intention for the agency to be more proactive and pragmatic.

  • April 17, 2024

    Ex-JPMorgan Analyst Liked 'Winding Up' Autonomy CEO, Jury Told

    A former JPMorgan stock analyst testifying Wednesday in the criminal fraud trial of former Autonomy CEO Michael Lynch said that he "took pleasure in winding up Lynch" and once even used a Hitler analogy to describe his performance, but said his critical coverage was never personal.

  • April 17, 2024

    Raid On Broker In Cum-Ex Fraud Case Was Lawful, Court Says

    A raid on the London office of commodity brokerage MCML Ltd. following a request from Danish prosecutors investigating an alleged £56 million ($70 million) tax fraud was lawful, a London court ruled Wednesday.

  • April 17, 2024

    Merchants Bring Modified Bid For Swipe Fee Class Actions

    A group of merchants urged Britain's competition tribunal on Wednesday to approve proposed class actions accusing Visa and Mastercard of unfairly imposing interchange fees on retailers for several years, arguing they had sufficiently addressed concerns that led to their initial proposals being rejected.

  • April 17, 2024

    Gazprom Unit Fights Ruling Blocking Russian UniCredit Claim

    A Gazprom joint venture told the U.K. Supreme Court on Wednesday that appeal judges in England did not have jurisdiction to grant an anti-suit injunction blocking its €450 million ($480 million) claim in Russia against UniCredit Bank.

  • April 17, 2024

    Post Office Boss 'Exonerated' Over Bullying Allegations

    The U.K. Post Office said Wednesday that an investigation has "exonerated" its chief executive of bullying allegations after the probe emerged during a U.K. parliamentary hearing.

  • April 17, 2024

    Hugh Grant Settles Privacy Suit Against UK Tabloid Publisher

    Actor Hugh Grant has settled his claim against the U.K. arm of Rupert Murdoch's media empire over alleged invasions of his privacy, according to London court filings made public Wednesday.

  • April 16, 2024

    Autonomy CEO Pressured JPMorgan Over Analyst, Jury Told

    An ex-JPMorgan stock analyst testifying Tuesday in the criminal fraud trial of former Autonomy CEO Michael Lynch told jurors that the software company founder responded with hostility when his research reports questioned its growth, and that Lynch offered JPMorgan millions in business if he were taken off the Autonomy beat.

  • April 16, 2024

    Cigna Denies Insurer's Claim For PPI Complaints Indemnity

    Cigna hit back at insurer PA (GI) Ltd.'s claim to recover its costs of dealing with missold payment protection insurance for healthcare cover, saying that it is not entitled to any compensation.

  • April 16, 2024

    Hill Dickinson Bolsters Disputes Team With New Partner

    Hill Dickinson LLP has snapped up a partner from Teacher Stern LLP to join its commercial litigation team, bringing a wealth of dispute resolution and crisis management experience to the table.

  • April 16, 2024

    Legal Experts Uneasy About Post Office Convictions Law

    Legal experts warned a parliamentary committee Tuesday that government plans to introduce legislation to quash the convictions of hundreds of Post Office branch managers could unintentionally set a precedent for other miscarriages of justice. 

  • April 16, 2024

    Ex-Post Office Boss Says Lawyers Ignored Prosecution Risks

    The Post Office's former chief executive said Tuesday that he was "surprised" that in-house lawyers who prosecuted sub-postmasters based on faulty IT data ignored the risk of failing to disclose certain key facts in court.

  • April 16, 2024

    EU Watchdogs Ally With ECB To Help Firms' Data Reporting

    European Union finance watchdogs said Tuesday they have set up an alliance with Europe's central bank to collaborate more efficiently on regulatory data transfers, reducing reporting costs for financial firms.

  • April 16, 2024

    Cooley Hires Ex-Norton Rose Antitrust Chief In London

    Cooley LLP has recruited Norton Rose Fulbright's London antitrust and competition chief to its London office as a partner in an effort to boost its ability to advise clients on competition disputes across the U.K. and the European Union.

  • April 15, 2024

    Ex-Autonomy Exec Testifies To Handshake Deals, Backdating

    Autonomy's former U.S. head of sales testified for the prosecution Monday in the criminal fraud trial of founder Michael Lynch, saying he boosted sales figures via "quid pro quo" handshake deals with customers, created pretextual emails to cover his tracks and even backdated a deal to meet revenue targets.

Expert Analysis

  • 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.

  • Cos. Must Monitor Sanctions Regime As Law Remains Unclear

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    While recent U.K. government guidance and an English High Court's decision in Litasco v. Der Mond Oil, finding that a company is sanctioned when a designated individual is exercising control over it, both address sanctions control issues, disarray in the law remains, highlighting that practitioners should keep reviewing their exposure to the sanctions regime, say lawyers at K&L Gates.

  • Unpacking The UK's Proposals To Regulate Crypto-Assets

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    Recent proposals for crypto-asset regulation in the U.K. demonstrate support for crypto's potential, but there is concern around the authorization process for organizations undertaking crypto-asset activities, and new regulations will require a more detailed assessment of firms' compliance not previously addressed, say Jessica Lee and Menelaos Karampetsos at Brown Rudnick.

  • The Top 7 Global ESG Litigation Trends In 2023

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    To date, ESG litigation across the world can largely be divided into seven forms, but these patterns will continue developing, including a rise in cases against private and state actors, a more complex regulatory environment affecting multinational companies, and an increase in nongovernmental organization activity, say Sophie Lamb and Aleksandra Dulska at Latham.

  • Proposed Amendment Would Transform UK Collective Actions

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    If the recently proposed amendment to the Digital Markets Bill is enacted, the U.K.'s collective action landscape will undergo a seismic change that will likely have significant consequences for consumer-facing businesses, say lawyers at Linklaters.

  • UK Takeover Code Changes: Key Points For Bidders, Targets

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    Newly effective amendments to Rule 21 of the U.K. Takeover Code, which remove legal and administrative constraints on a target operating its business in the ordinary way during an offer, will add clarity for targets and bidders, and are likely to be welcomed by both, say lawyers at Davis Polk.

  • EU GDPR Ruling Reiterates Relative Nature Of 'Personal Data'

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    The Court of Justice of the European Union recently confirmed in Gesamtverband v. Scania that vehicle identification number data can be processed under the General Data Protection Regulation, illustrating that the same dataset may be considered "personal data" for one party, but not another, which suggests a less expansive definition of the term, say lawyers at Van Bael.

  • How The UK Smart Regulatory Strategy Fuels AI Innovation

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    Eight months after the U.K. government published its artificial intelligence white paper, the Communications and Digital Lords Committee considered regulators' role regarding large language models, illustrating that the government is ramping up efforts toward solidifying the U.K.'s position as a global leader in AI regulation and development, say attorneys at Akin Gump.

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