Corporate Crime & Compliance UK

  • March 07, 2024

    White & Case Predicts Surge For White-Collar Practice

    White & Case LLP has made an additional investment in its investigations practice and brought in white-collar crime expert Neill Blundell amid growing demand from U.K. companies for advice on new environmental, social and governance standards.

  • March 07, 2024

    UK Modern Slavery Victim Reports Hit Record High In 2023

    Just over 17,000 potential victims of modern slavery were referred to the Home Office in 2023 in a record high, according to data published by the government department Thursday.

  • March 07, 2024

    Libor Convictions Like Post Office Scandal, Lawmakers Say

    The prosecution of traders over rigging of benchmark interest rates was a "miscarriage of justice" similar to the Post Office scandal, two politicians said on Thursday, a week before two former bankers challenge their convictions in a landmark appeal.

  • March 06, 2024

    Shipper Insists US Sanctions Offered Escape From Contract

    A shipping company told Britain's highest court on Wednesday that it should not be forced to vary the terms of a freight contract, after refusing to accept payments in euros to mitigate a force majeure event amid concerns about U.S. sanctions.

  • March 06, 2024

    UK Top Court Blocks Extradition Over Right to Attend Trial

    The Supreme Court unanimously blocked the extradition of a convicted sex offender to Italy on Wednesday after finding that he was never officially told he was being prosecuted, nor where and when his trial would be.

  • March 06, 2024

    Dentons Says Client Checks Adhered To Relevant AML Rules

    Dentons told a tribunal on Wednesday that the Solicitors Regulation Authority's case accusing the firm of breaching money laundering regulations by failing to adequately investigate a former client's wealth is based on current regulations rather than those in force at the time.

  • March 06, 2024

    Businessman Can't Escape €50M Investment Fraud Case

    A judge has declined to throw out a chunk of a €50 million ($54.4 million) investment fraud case brought by an Italian investment vehicle, finding allegations against company secretary Federico Faleschini cannot be divorced from the wider claim.

  • March 06, 2024

    Duo Acquitted Of Bribing Saudi Elites Under MoD Deal

    Two British men were acquitted in London on Wednesday of paying £9.7 million ($12.2 million) in bribes to Saudi officials as part of a multibillion-pound U.K. defense contract, although one was convicted of taking kickbacks.

  • March 05, 2024

    DLA Piper Brings On HMRC Vet For Corp. Crime Team

    DLA Piper added a member to its corporate crime and investigations team in London, an HM Revenue & Customs veteran most recently at Pinsent Masons, the firm announced.

  • March 05, 2024

    UK Supermarket Giants Sue Fish Farmers Over £675M Cartel

    A group of the U.K.'s largest supermarkets have sued several Atlantic fish farming companies saying a cartel has manipulated prices of salmon across Europe, causing the retailers an estimated £675 million ($858 million) in losses, Britain's competition court said Tuesday.

  • March 05, 2024

    SRA Investigator Calls Dentons' AML Checks 'Concerning'

    Dentons faced allegations from a Solicitors Regulation Authority investigator at a tribunal Tuesday that the way the firm handled a politically exposed client were "concerning" amid claims it breached money laundering regulations by failing to make adequate checks.

  • March 05, 2024

    Class Action Funding Left In Limbo Despite Gov't Reform

    Government plans to nullify a U.K. Supreme Court decision that threatened the status of many litigation funding agreements will provide certainty for claimants when it passes, but the timing of the legislation has implications for the status of legal challenges now underway, lawyers say.

  • March 05, 2024

    Ashurst Adds White Collar Pro As Partner From Dechert

    Ashurst LLP has recruited a financial crime expert to join as a partner, as part of a "strategic focus" on growing its disputes and investigations team in London, the firm said Tuesday.

  • March 05, 2024

    Ex-Russian Minister Renews Bid To Jail Deripaska In UK

    Former Russian minister Vladimir Chernukhin urged an appeals court Tuesday to revive his bid to jail his ex-business associate Oleg Deripaska for contempt of court, arguing an earlier judge was wrong to find than an agreement to preserve assets had not been breached.

  • March 05, 2024

    Spending Watchdog Warns BoE As Compliance Breaches Rise

    The U.K. public spending watchdog has urged the Bank of England to examine its controls after it found a significant increase in breaches of staff policies at the central bank.

  • March 05, 2024

    FCA To Probe Personal Guarantees In Some Small Biz Lending

    The Financial Conduct Authority said Tuesday it will be investigating the use of personal guarantees in small business lending following complaints by an industry group.

  • March 05, 2024

    FCA Warns Firms To Remedy Failings In AML Controls

    The Financial Conduct Authority has fired off a warning to the chief executives of 1,000 firms it regulates for money laundering purposes, telling them on Tuesday to tackle failings in their controls.

  • March 05, 2024

    Ex-Autonomy Chief Settles SFO Claim Over DOJ Fraud Case

    Mike Lynch has settled his claim against the Serious Fraud Office that demanded the watchdog turn over information on him over concerns that U.S. authorities sought international assistance to avoid running out of time to charge him for fraud, his spokesperson said Tuesday.

  • March 04, 2024

    FCC Inks Anti-Scam Partnership With UK Counterpart

    The Federal Communications Commission said Monday it will work formally with its U.K. counterpart to combat scam robocalls and robotexts, an announcement that came days after reaching a similar agreement with Britain's data privacy enforcer.

  • March 04, 2024

    Dentons Failed To Make AML Checks On PEP Client, SRA Says

    Dentons faced a battle at a London tribunal on Monday over its anti-money laundering procedures after the U.K. legal regulator said it had failed to conduct adequate checks on a politically exposed client for years.

  • March 04, 2024

    Barrister Disbarred For Falsely Trying To Double Fee

    A barrister who tried to double his fee for representing a client at a civil hearing and then misled the court when trying to cover up his tracks was disbarred by a tribunal on Monday.

  • March 04, 2024

    Associate Of Ex-Dechert Partner Says Settlement Ends Claims

    A British-Canadian businessman accused of conspiring with former Dechert partner Neil Gerrard to hack aviation tycoon Farhad Azima told an English judge on Monday that Azima's settlement with the law firm brings the claims against him to an end. 

  • March 04, 2024

    FCA Warns Asset Managers To Follow Sustainability Rules

    The Financial Conduct Authority has warned chief executives of asset management companies that it will focus on their compliance with rules on sustainability disclosure that come into force this year.

  • March 04, 2024

    5 Questions For Peter Carter On Insider Dealing Prosecutions

    The Financial Conduct Authority's successful prosecution of a former Goldman Sachs analyst for insider dealing provides new insights into what a determined criminal will do to get around compliance procedures and break the law. Here Peter Carter KC at Doughty Street Chambers, who led the prosecution for the FCA, talks to Law360 about the intricacies of tackling these kinds of cases.

  • March 04, 2024

    Apple Fined €1.8B For Restricting Music Streaming Developers

    The European Union's antitrust authority said Monday that it has fined tech giant Apple €1.8 billion ($1.95 billion) for abusing its dominant position in the market for music streaming apps by preventing developers from letting iPhone users know about cheaper subscriptions.

Expert Analysis

  • Deal Over Jets Stranded In Russia May Serve As Blueprint

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    In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.

  • Economic Crime Act Brings Changes For Limited Partnerships

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    The recently passed Economic Crime Act introduces significant financial transparency obligations for new and existing U.K. limited partnerships, and with criminal consequences for noncompliance, a degree of advance consideration is strongly advised, say Amelia Stawpert and Alex Jones at Hogan Lovells.

  • Key Lessons From The SRA's 2023 AML Report

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    The Solicitors Regulation Authority’s recent anti-money laundering report conducted supervisory activities that revealed a variety of breaches, and with an increasingly regulated landscape, lawyers can play an important part in preventing criminal activity by taking responsibility for ensuring compliance, says Harriet Holmes at Thirdfort.

  • ESMA Report Offers A Glimpse At EU's Securitization Future

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    The European Securities and Markets Authority’s recent overview of the EU securitization sector suggests a growing market for both investors and businesses and offers useful insight into future regulatory priorities, says Alan Bunbury at Matheson.

  • Collapse-Risk Buildings Present Liability Challenges

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    Recently, buildings, such as Harrow Crown Court, have been closed due to risk of collapse from use of reinforced autoclaved aerated concrete in their construction, but identifying who will pay for the associated damages may be challenging due to expired limitation periods, say Theresa Mohammed, Jonathan Clarke and Villem Diederichs at Watson Farley.

  • How The Legal Sector Can Enhance Its Data Resilience

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    In view of the U.K. National Cyber Security Centre’s recent report shedding light on the legal sector’s increased vulnerability to cyberattacks, law firms need not only establish robust defenses, but also to redefine their approach to data security by fostering a culture of continuous learning, adaptability and vigilance, says Katie McCullough at Panzura.

  • Age Bias Cases Illustrate Key Employer Issues On Retirement

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    Recent Employment Tribunal cases demonstrate that age discrimination claims are increasingly on employees' radars, particularly regarding retirement, so employers should be proactive and review their current practices for managing older employees, say Jane Mann and Lucy Sellen at Fox Williams.

  • Why Indonesia Feels Frustrated By Airbus Dispute Outcome

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    Although the U.K. Serious Fraud Office’s Airbus bribery investigation achieved a record payout for regulators, Indonesia’s threat to sue for lack of credit for its contribution serves as a reminder of the need to take care when settlements are distributed among investigating partners, says Niall Hearty at Rahman Ravelli.

  • EU Tech Guidance Is First Step In Minimizing Security Risks

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    The European Commission's recent recommendation on critical technologies that likely pose immediate risks to technology security has prompted an evaluation of the European Union's vulnerabilities in these areas, which could have significant implications for businesses operating in and with the bloc, say lawyers at Cooley.

  • Key Shifts In EU, UK Emissions Credits: Challenges For Cos.

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    An upcoming deadline to apply for free carbon dioxide emissions allowances in the European Union, and a reduction in the supply of similar allowances in the U.K., are likely to increase competition for allowances, and cause production, supply chain and contract issues for companies, say attorneys at Orrick.

  • UAE Bank Case Offers Lessons On Enforcing Foreign Rulings

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    The High Court recently clarified in Invest Bank v. El-Husseini that foreign judgment debts may be enforceable in England, despite being unenforceable in their jurisdiction of origin, which should remind practitioners that foreign judgments will be recognized in England if they are final and conclusive in their court of origin, say lawyers at Macfarlanes.

  • Revised OECD Guidelines Key In Shaping Business Standards

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    The OECD’s recent revised guidelines on responsible business conduct, supported by a domestic government agencies’ grievance referral mechanism, have already influenced EU due diligence standards, and enterprises engaging in the unique procedure will benefit from case-specific nuances, parallel proceedings and the availability of confidentiality protections, say lawyers at Debevoise.

  • Takeaways From CMA's Grocery Sector Unit Pricing Report

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    The Competition and Markets Authority’s recently published report identifying grocery retailers' problematic and inconsistent behaviors in their use of unit pricing signals that retailers will want to take care to use all pricing structures in a clear and transparent way, and that the CMA's soft approach is ending and enforcement is becoming a costly reality, says Michael Cordeaux at Walker Morris.

  • Report Can Aid With Sustainable Finance Disclosure Filings

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    The European Supervisory Authorities recently issued a report on companies' consideration of the principal adverse impacts of their investment decisions on sustainability factors, providing examples of good and bad disclosure practices under the Sustainable Finance Disclosure Regulation, which firms should note in their future reporting, say lawyers at Debevoise.

  • Protecting The Arbitral Process In Russia-Related Disputes

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    Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.

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