Corporate Crime & Compliance UK

  • February 01, 2024

    Truckmaker Scania Loses Appeal Over €880M Cartel Fine

    Europe's top court on Thursday refused to overturn a €880 million ($952 million) fine imposed by the European Union's enforcement arm on Volkswagen AG's Scania subsidiary for taking part in a truck cartel for more than a decade.

  • February 01, 2024

    Lawyer Convicted Of Tax Fraud Can't Halt Disciplinary Case

    An English tribunal refused Thursday to throw out a disciplinary case against a lawyer over his conviction for tax fraud in the U.S., rejecting his argument that it couldn't hear his case because he wasn't a registered solicitor at the time.

  • February 01, 2024

    EU Leaders Slow Plan To Use Frozen Russian Assets

    European Union leaders reined in the bloc's rush to use frozen and immobilized Russian state assets for the reconstruction of Ukraine, as leaders from Germany, France and Italy called for caution Thursday.

  • February 01, 2024

    Greenwashing Risk Hurting ESG Funds, EU Watchdog Says

    Europe's financial markets watchdog has warned that greenwashing risks are hurting the growth of environmental, social and corporate governance funds, potentially damaging investor confidence.

  • February 01, 2024

    Duet Group Co-Founder Gets Nearly 5-Year Cum-Ex Sentence

    The co-founder of the London-based Duet Group investment firm received a nearly five-year jail sentence for crimes related to so-called cum-ex activities following a trial in Germany, a person familiar with the verdict confirmed to Law360 on Thursday.

  • February 01, 2024

    Payroll Biz Director Can't Challenge £21M VAT Fraud Decision

    A London judge has refused a bid by a director of a defunct payroll services company to overturn a finding that he defrauded the taxpayer of £21 million ($26 million) by under-declaring value-added tax.

  • February 01, 2024

    Car Leasing Directors In Court For £88M SFO Fraud Case

    Two directors of a failed car leasing group made their initial court appearance in London on Thursday to face charges brought by the Serious Fraud Office after they allegedly left investors £88 million ($111 million) out of pocket.

  • February 01, 2024

    Trump Blocked From Bringing Russian Dossier Claim In UK

    Former President Donald Trump was prevented on Thursday from suing the authors of the infamous "Steele dossier" in the U.K. after a London judge said it would be an abuse of process for the data protection claim to proceed.

  • January 31, 2024

    Footballer Can't Bring Contempt Case Against Ex-Lawyer

    A judge rejected on Wednesday a former footballer's bid to bring contempt of court proceedings against a Charles Russell Speechlys LLP partner he accused of knowingly making false statements to court.

  • January 31, 2024

    FCA Warns Firms Against False Price, Trade Messaging

    The Financial Conduct Authority has warned companies to take steps to prevent the communication of false prices or trades in securities to investors, which could cause potential financial harm.

  • January 31, 2024

    Ex-Autonomy Boss Mike Lynch Sues SFO Over Data

    British entrepreneur Mike Lynch is suing the Serious Fraud Office in London after he was extradited to the U.S. to face fraud charges following the $11.7 billion sale of his software firm to Hewlett-Packard, court records filed Wednesday show. 

  • January 31, 2024

    Lawyer Convicted Of Tax Fraud Fights To Throw Out SDT Case

    A British lawyer convicted of tax fraud in the U.S. fought to throw out disciplinary proceedings in England on Wednesday, claiming that a tribunal cannot hear his case because he was not a registered solicitor at the time of the wrongdoing.

  • January 31, 2024

    Property Biz Says Franchisor Hid Fraud Claims In £1.3M Feud

    The owner of a property investment scheme tricked a franchisee into taking over the "suffering" business by hiding allegations that his system promoted mortgage fraud and concealing unpaid fees, the buyers have alleged amid an ongoing feud over the deal.

  • January 31, 2024

    UK Gov't Decision On Legal Aid Spending Unlawful

    The High Court ruled Wednesday that the U.K. government acted unlawfully when it failed to analyze how rejecting recommendations to increase spending on criminal legal aid could undermine efforts to improve the system. 

  • January 30, 2024

    Cities Compete To Host EU's New AML Center

    Representatives from Paris, Rome, Vienna and other European cities touted living conditions, generous financial offers and track records of fighting dirty money at a hearing Tuesday where they presented bids to host the European Union's new authority to fight money laundering and terrorist financing.

  • January 30, 2024

    Woman Accused Of Laundering Proceeds From £5B Fraud

    A British-Chinese woman accused of laundering bitcoin converted from a £5 billion ($6.32 billion) investment fraud by a fugitive began deleting encrypted messaging apps off her mobile phone following a morning raid by police, prosecutors told jurors on Tuesday.

  • January 30, 2024

    Lawyer Struck Off For Misleading Client About Case Progress

    A disciplinary board has struck off a law firm owner and ordered him to pay £10,000 ($12,700) for lying to a client about the progress of his case and the instruction of a barrister.

  • January 30, 2024

    BT Says 'Flawed' £1.3B Unfair Pricing Claim Ignores Case Law

    Telecoms operator BT argued at the U.K. antitrust tribunal on Tuesday that a £1.3 billion ($1.7 billion) class action accusing the company of excessive and unfair pricing is "profoundly flawed and ignores the basic principles" of competition case law.

  • January 30, 2024

    Employee Faking Invoices Can Be Liable For VAT, ECJ Says

    A Polish fuel seller's employee using her company's details without its consent to issue fraudulent value-added tax receipts can be held liable for paying the VAT, provided that the company took appropriate anti-fraud measures, the European Court of Justice ruled Tuesday.

  • January 30, 2024

    Barrister Defends His 'Rolls-Royce' Services In Fraud Case

    A barrister accused of milking the taxpayers for unnecessary legal fees told jurors in London on Tuesday that he did not falsely submit claims for reimbursement as he provided his clients "Rolls-Royce" service.

  • January 30, 2024

    Ex-Plexus Lawyer Who Groped Colleague Suspended

    A former Plexus Law solicitor who drunkenly groped a colleague's bottom at a work party before crudely propositioning her was given a three-month suspension by a tribunal on Tuesday.

  • January 30, 2024

    Global Anti-Corruption Fight Is Fizzling, Study Says

    Efforts to combat corruption in the public sector have stalled in the U.S. and globally while some developed countries, including the United Kingdom and Iceland, appear to be drifting backward, according to an annual study released Tuesday.

  • January 30, 2024

    Defendants Won't Testify In SFO Saudi Bribery Case

    Lawyers for two businessmen on trial for allegedly bribing Saudi Arabian military officials under a major British defense contract said on Tuesday that their clients will not testify in their defense. 

  • January 30, 2024

    Regulator Takes Aim At Banks Delaying Fraud Repayment

    The U.K.'s payments watchdog told members of Parliament on Tuesday that some banks are far from ready for compulsory reimbursement for authorized push payment fraud from Oct. 7 and that it is ready to take enforcement action against laggards.

  • January 30, 2024

    Watchdog Moves To Boost Solicitors' Sanctions Compliance

    The Solicitors Regulation Authority has written to more than 1,000 law firms in a move to improve compliance with the U.K. financial sanctions regime after its research found insufficient protection in place at many of the companies it regulates.

Expert Analysis

  • 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.

  • Nix Of $11B Award Shows Limits Of Arbitral Process

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    A recent English High Court decision in Nigeria v. Process & Industrial Developments, overturning an arbitration award because it was obtained by fraud, is a reminder that arbitration decisions are ultimately still accountable to the courts, and that the relative simplicity of the arbitration rules is not necessarily always a benefit, say Robin Henry and Abbie Coleman at Collyer Bristow.

  • How The Netherlands Became A Hub For EU Class Actions

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    As countries continue to implement the European Union Collective Redress Directive, the Netherlands — the country with the largest class action docket in the EU — provides a real-world example of what class and mass litigation may eventually look like in the bloc, say lawyers at Faegre Drinker and Houthoff.

  • Navigating The Novel Challenges Facing The Legal Profession

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    The increasing prominence of ESG and AI have transformed the legal landscape and represent new opportunities for lawyers, but with evolving regulations and the ever-expanding reach of the Solicitors Regulation Authority, law firms should ensure that they have appropriate policies in place to adapt to these challenges, say Scott Ashby and Aimee Talbot at RPC.

  • Sustainable Finance Consultations May Signal Key Changes

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    The European Commission's recently launched consultations on the sustainable finance disclosure regulation point to important changes, including the potential introduction of a new product categorization system, and illustrate that there are clearly issues with the existing framework, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • 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.

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