Accused ex-Barclays trader was given no legal guidance by employer, lawyer says January 11, 2017 The lawyer for an ex-Barclays trader facing forex-fixing claims in the US has hit back at the trader's former employer for not giving him enough guidance on the law. Chris Ashton was late last night charged by the US Department of Justice (DoJ) with conspiring to fix prices and rig bids in the foreign exchange [...]
Government to consider widening the list of crimes companies could be held criminally responsible for December 8, 2016 Government could broaden the types of crimes companies can be held responsible for, the attorney general told MPs today. Answering questions on government's policy on corporate criminal liability, Jeremy Wright said government would soon be calling for evidence to look into further reform, and potentially whether it should widen the crimes companies could be found [...]
EU referendum: Home secretary Theresa May and business secretary Sajid Javid back the UK staying in the EU February 20, 2016 Home secretary Theresa May has backed the United Kingdom remaining in the European Union, saying the deal by Prime Minister David Cameron includes "important" reforms to prevent the abuse of free movement. May said that the deal that Cameron struck with fellow EU member states means the UK keeps control of "our right to decide [...]
MPs’ Magnitsky amendment to criminal finances bill would see abusers’ assets frozen in the UK December 5, 2016 New powers to freeze the UK assets of those suspected of abusing human rights have received the backing of a cross-party group of influential MPs ahead of a parliamentary vote on the latest anti-corruption legislation. The MPs, led by Dominic Raab, conservative MP for Esher & Walton, have tabled an amendment for the asset freezing [...]
Shell has won its legal battle over oil spills in the Niger Delta January 26, 2017 Royal Dutch Shell today won a High Court decision in which the English court said it does not have jurisdiction to rule on claims against the company's Nigerian subsidiary. UK solicitors Leigh Day brought oil spill claims against the Shell Petroleum Development Company of Nigeria (SPDC) on behalf of the Ogale and Bille communities in the Niger Delta in 2015, while also filing claims [...]
The EU cracked the whip on cartels last year, while the US backed down January 5, 2017 Global fines for cartels rose to over $6bn (£4.9bn) last year, as a clampdown from the EU helped to push the figure higher, statistics out today show. Law firm Allen & Overy has calculated that fines for cartel involvement rose to $6.68bn worldwide in 2016, up 28 per cent compared with $5.2bn the year before, while the [...]
Legalising cannabis would generate £1bn in tax, say the Liberal Democrats March 8, 2016 Legalising cannabis could raise £1bn annually in tax, a new study by the Liberal Democrats has claimed. According to the report, "credible estimates" have shown £1bn in government revenue could be raised, and the panel conducting the study recommended taxing cannabis in line with its potency. As has been the case in US states such as Colorado and Washington, [...]
A legal challenge against the Snooper’s Charter is being crowdfunded January 10, 2017 A privacy group is seeking to challenge the government's so-called Snooper's Charter that allows it to collect wide-ranging email and internet history data from citizens. Liberty is launching a crowdfunding campaign to raise funds for a legal challenge against the law's powers which it called "an unprecedented, unjustified assault on our freedom" in the High Court. The group, along [...]
JP Morgan to pay $264m to settle Chinese hiring claims November 17, 2016 JP Morgan is to pay $264m (£212.2m) to settle claims it hired relatives of key Chinese decision makers to win work. The US authorities allege that JP Morgan's Asian subsidiary set up a client referral scheme, distinct from the lender's own hiring processes, to give unfair preference to would-be hires referred by client executives and influential government officials [...]
Budget 2016: Chancellor George Osborne announces cash for infrastructure as government “makes northern powerhouse a reailty” and commits to Crossrail 2 and HS3 March 16, 2016 The chancellor has committed cash to develop infrastructure, after reports by the National Infrastructure Commission suggested he do so. During the Budget, Osborne gave the green light for HS3 between Manchester and Leeds, providing more money to create a four lane M62 and develop the case for a new tunnel road from Manchester to Sheffield. [...]