Corporate Crime & Compliance UK

  • March 18, 2024

    FCA Levies £5.95M Fine In Fake Dividend Tax Reclaim Case

    The Financial Conduct Authority said Monday it had decided to fine the former chief executive of Indigo Global Partners Ltd. £5.95 million ($7.57 million) and ban him from the industry for participating in a Danish tax scam that falsely reclaimed dividend taxes on shares.

  • March 18, 2024

    Serving Claims To HMRC By Email Made Permanent

    Claimants pursuing legal action against the U.K. tax authority in England and Wales will continue to be able to serve documents by email, HM Revenue and Customs said Monday, making the process it introduced during the COVID-19 pandemic permanent.

  • March 18, 2024

    SFO's Ephgrave Targets Fraud In Push To Kick Down Doors

    The Serious Fraud Office's fifth new investigation in the five months since Nick Ephgrave took the helm shows the watchdog has focused on domestic fraud cases and delivered on the director's pledge to be bolder, lawyers say.

  • March 18, 2024

    Watchdogs Join Forces To Ramp Up Fight On Debt Collection

    The Financial Conduct Authority said on Monday it is launching a joint effort with three other watchdogs to further scrutinize debt collection practices, ensuring that companies fairly treat consumers who are feeling the pinch from the cost-of-living crisis.

  • March 15, 2024

    Ex-Autonomy CEO To Face Jury As HP Fraud Trial Boots Up

    Former Autonomy CEO Michael Lynch's 2011 sale of the tech company he founded to HP for about $11.7 billion earned him around $804 million and acclaim in tech circles, but the British executive now faces up to 20 years in prison on federal fraud charges that he inflated revenue figures in a monthslong criminal trial slated to kick off Monday in San Francisco.

  • March 15, 2024

    Emirati Banks Deny Misleading Court To Get $31M Order

    Emirates NBD Bank PJSC has denied misleading the Dubai courts to secure court orders for 117 million AED ($31.8 million) to enforce loans it claims executives of a Kuwaiti opticians company owe.

  • March 22, 2024

    Pallas Partners Hires Litigation Pro From Linklaters In London

    Pallas Partners LLP has recruited a litigation partner from Linklaters LLP to its London office in a boost to its offerings across commercial, finance and competition disputes, the boutique firm said Friday.

  • March 15, 2024

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

    The past week in London has seen Howard Kennedy face legal action by a London hotel chain, former racing boss Bernie Ecclestone and Formula One hit with a breach of contract claim by a Brazilian racecar driver, and a libel row between broadcaster Jeremy Vine and ex-footballer Joey Barton. Here, Law360 looks at these and other new claims in the U.K.

  • March 15, 2024

    US Acquittals Don't Upend UK Libor Convictions, SFO Says

    The acquittals in the U.S. of two former bankers previously convicted of rigging Libor doesn't undermine the legal rationale — upheld on several appeals — for prosecuting traders in English courts, counsel for the Serious Fraud Office said Friday.

  • March 15, 2024

    Ex-Pharma Boss Avoids Prison For Misleading Watchdog

    A former pharmaceutical boss avoided prison on Friday for misleading the medicine regulator in the U.K. to gain approval for a novel drug, after his now-defunct company fully paid a £1.07 million ($1.36 million) fine.

  • March 14, 2024

    Judge Breyer Seeks To Boost Security Outside SF Courthouse

    U.S. District Judge Charles Breyer said at a Thursday hearing that he'll meet with the U.S. Marshals Service to press for increased security around the San Francisco courthouse to ensure court staff and jurors' safety, the same day the city was sued over the neighborhood's open-air drug markets.

  • March 14, 2024

    Trustee Partially Wins Bid To Nix Defense In Italian Villa Claim

    A London court has granted a Russian bankruptcy trustee's bid to throw out some defenses of banker Georgy Ivanovich Bedzhamov's romantic partner over her claim to an Italian villa, finding them "hopeless" and that they had "no real prospect of success."

  • March 14, 2024

    Rosenblatt Faces Wasted Costs Bid In Nigeria Oil Spill Case

    Rosenblatt faces costs proceedings brought by Shell after a London judge ruled Thursday that the firm did not have authority to act on behalf of the majority of claimants in a case over an 2011 oil spill off the coast of Nigeria.

  • March 14, 2024

    Aid Charity Fired Lockdown 'Shisha Cave' Whistleblower

    A humanitarian charity made an employee redundant in retaliation for her blowing the whistle about colleagues smoking and potentially taking illegal drugs in its offices during a COVID-19 lockdown, a U.K. employment tribunal has ruled.

  • March 14, 2024

    Italy Fines TikTok €10M For Harmful Content

    Italy's antitrust authority fined TikTok €10 million ($11 million) on Thursday for failing to protect children from potentially dangerous content on the platform.

  • March 14, 2024

    Craig Wright Timeline: From Australia To The London Courts

    Computer scientist Craig Wright's one-man mission to prove to the courts that he is the elusive creator of bitcoin came to an end Thursday as a London judge rejected his claim in one of the most-discussed intellectual property cases in the English courts. Here, Law360 looks back at the history of Wright's claims.

  • March 14, 2024

    Ex-Libor Trader Hayes Claims Judge Denied Him Fair Trial

    The conviction of former UBS trader Tom Hayes for rigging Libor is "unsafe" and should be overturned because the judge overseeing his trial committed a "cardinal" breach of his rights by telling jurors he had submitted false rates, his lawyer told the Court of Appeal on Thursday.

  • March 14, 2024

    Wright Is Not The Inventor Of Bitcoin, Judge Rules

    A London judge ruled Thursday that Australian computer scientist Craig Wright is not the pseudonymous inventor of bitcoin, ruling that the evidence against his claim to be Satoshi Nakamoto was "overwhelming."

  • March 13, 2024

    Marketing Boss Says LC&F Services Provided In 'Good Faith'

    The head of a marketing company that provided services to London Capital & Finance did so in "good faith," and had no knowledge of an alleged Ponzi scheme, his lawyer told a London trial on Wednesday over the £237 million ($304 million) investment scandal.

  • March 13, 2024

    Four Car Manufacturers To Face Dieselgate Trial In 2025

    Ford and Nissan are among four major carmakers that will face trial in October 2025 over claims on behalf of 1.25 million motorists alleging that the manufacturers used in-car technology to cheat emissions tests, Leigh Day said Wednesday.

  • March 13, 2024

    EU Parliament Overwhelmingly Passes Landmark AI Law

    European Union lawmakers voted overwhelmingly on Wednesday in favor of a first-of-its-kind artificial intelligence law, in a bid to help facilitate innovation while safeguarding the bloc's fundamental rights.

  • March 13, 2024

    Senior SFO Official Judy Krieg Departs After Three Years

    One of the most senior officials at the Serious Fraud Office has left her role overseeing its fraud and bribery caseload, the second high-level departure since the new director took over the white collar crime agency in September. 

  • March 13, 2024

    Traders To Fight Rate-Rigging Convictions In Landmark Appeal

    Two former traders who say they were made scapegoats for public anger during the last financial crisis challenge their convictions for rigging benchmark interest rates on Thursday in a case that could undermine the legal theory that underpinned dozens of prosecutions.

  • March 13, 2024

    Norton Pension Scam Victims Receive Initial £9.4M Redress

    Former employees of Norton Motorcycles received £9.4 million ($12 million) into their pension schemes from the Fraud Compensation Fund this week, an independent trustee told a group of senior MPs on Wednesday.

  • March 13, 2024

    CMA Fights Decision To Block Raid On Home In Cartel Probe

    Britain's antitrust watchdog challenged on Wednesday the refusal by a tribunal to grant a warrant to raid the home of an individual connected to a chemicals cartel investigation, claiming the decision could make it impossible for enforcers to search domestic properties.

Expert Analysis

  • Extradition Ruling Hints At Ways Around High Burden Of Proof

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    The U.K. Supreme Court's recent ruling in Popoviciu v. Curtea De Apel Bucharest confirmed that, in a conviction extradition case, the requested person must establish a flagrant violation of their right to a fair trial, but the court's reasoning reveals creative opportunities to test this boundary in the U.K. and Strasbourg alike, says Rebecca Hughes at Corker Binning.

  • What Lawyers Can Learn From FDI Screening Report Findings

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    The recent European Commission report on the screening of foreign direct investments into the EU reveals how member states need to balance national security concerns with openness, and with more cross-border transactions subject to screening, lawyers must be alert to jurisdictional variances, says Jonathon Gunn at Faegre Drinker.

  • Why Law Firms Should Heed Calls To Put ESG Over Profit

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    According to Deloitte’s recent survey, the majority of Gen Z and millennials remain unimpressed with businesses’ societal impact, and junior lawyers in particular are increasingly expecting the legal profession to shift to a business model that prioritizes sustainability above profitability, says Dana Denis-Smith at Obelisk Support.

  • UK Review May Lead To Lower Investment Screening Burden

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    The government’s current review of national security investment screening rules aims to refine the scope of mandatory notifications required for unproblematic deals, and is likely to result in much-needed modifications to minimize the administrative burden on businesses and investors, say lawyers at Simpson Thacher.

  • What Prince Harry Privacy Case May Mean For Media Ethics

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    An English High Court recently allowed the privacy case brought by Prince Harry and six other claimants against the Daily Mail publisher to proceed, which, if successful, could embolden other high-profile individuals to bring claims and lead to renewed calls for a judicial public inquiry into British press ethics, says Philippa Dempster at Freeths.

  • Economic Crime Act Exposure: What Companies Can Expect

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    The intention of the Economic Crime and Corporate Transparency Act is to make it easier to attribute criminal liability to companies if a senior manager has committed an offense, but the impact on corporate criminal convictions depends on who qualifies as a senior manager and the evidential challenges in showing it, say Hayley Ichilcik and Julius Handler at MoFo.

  • How European Authorities Are Foiling Anti-Competitive Hiring

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    Lawyers at Squire Patton discuss key labor practice antitrust concerns and notable regulation trends in several European countries following recent enforcement actions brought by the European Commission and U.K. Competition and Markets Authority.

  • FCA Promotions Review Sends A Strong Message To Firms

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    The recent FCA review into firms' compliance with the rules on promoting high-risk investments to retail clients clarifies that it expects the letter and the spirit of the rules to be followed, and given the interplay with the consumer duty, there are wider implications at stake, say Marina Reason and Chris Hurn at Herbert Smith.

  • When Can Bonuses Be Clawed Back?

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    The High Court's recent decision in Steel v. Spencer should remind employees that the contractual conditions surrounding bonuses and the timing of any resignation must be carefully considered, as in certain circumstances, bonuses can and are being successfully clawed back by employers, say Merrill April and Rachael Parker at CM Murray.

  • The State Of UK Litigation Funding After Therium Ruling

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    The recent English High Court decision in Therium v. Bugsby Property has provided a glimmer of hope for litigation funders about how courts will interpret this summer's U.K. Supreme Court ruling that called funding agreements impermissible, suggesting that its adverse effects may be mitigated, says Daniel Williams at DWF Law.

  • UK Shareholding Report A Missed Opportunity For New Tech

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    The recommendations in the U.K. Digitization Taskforce's recent report on digitizing and improving the U.K. shareholding framework are moderate but not revolutionary, and its failure to recommend digital ledger technology will impede a full transformation of the system, say Tom Bacon and Andrew Tsang at BCLP.

  • What Lawyers Need To Know About The UK Online Safety Act

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    The recently passed U.K. Online Safety Act requires regulated providers to take action to assess and mitigate user risks, and counsel for these companies should take advantage of Ofcom’s clear desire to have a collaborative relationship and improve governance, say Rachael Annear and Tristan Lockwood at Freshfields.

  • Trial By AI Could Be Closer Than You Think

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    In a known first for the U.K., a Court of Appeal justice recently admitted to using ChatGPT to write part of a judgment, highlighting how AI could make the legal system more efficient and enable the judicial process to record more accurate and fair decisions, say Charles Kuhn and Neide Lemos at Clyde & Co.

  • Employer Considerations After Visa And Application Fee Hikes

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    The U.K.'s recent visa and application fee increases are having a significant financial impact on businesses, and may heighten the risk of hiring discrimination, so companies should carefully reconsider their budgets accordingly, says Adam Sinfield at Osborne Clarke.

  • Why It's Urgent For Pharma Cos. To Halt Counterfeit Meds

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    With over 10.5 million counterfeit medicines seized in the EU in 2023, it is vital both ethically and commercially that pharmaceutical companies take steps to protect against such infringements, including by invoking intellectual property rights protection, says Lars Karnøe at Potter Clarkson.

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