Corporate Crime & Compliance UK

  • February 02, 2024

    Dechert Settles Mogul's UK Hacking Claim For Millions

    Dechert has agreed to pay £3 million ($3.8 million) to resolve claims that ex-partner Neil Gerrard orchestrated the hacking of Farhad Azima and misled the English courts, in a deal that the aviation tycoon estimates could be worth as much as $15 million with costs.

  • February 02, 2024

    Mishcon Partner Says Bitcoin Property Buy Made Him Uneasy

    A Mishcon de Reya partner testified on Friday that he grew "increasingly uncomfortable" with shifting answers from a Chinese-British woman trying to buy a mansion about where her bitcoin, laundered from a £5 billion ($6.3 billion) fraud, originated.

  • February 02, 2024

    CPS Denies Liability in Ex-Sidley Lawyer Failed Prosecution

    The Crown Prosecution Service has denied being liable for its botched tax fraud prosecution of a former Sidley Austin LLP lawyer, a former senior KPMG official and a banking adviser, who are collectively seeking more than £66 million ($84 million) from the U.K.'s main prosecutor.

  • February 02, 2024

    Putin Ally Charged With Breaching UK Sanctions On Russia

    A Russian oligarch and alleged ally of President Vladimir Putin is believed to be the first person charged in the U.K. with breaching Russian sanctions following his arrest on money laundering charges.

  • 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.

Expert Analysis

  • 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.

  • 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.

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