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BAe Challenged on Corruption BAe Challenged on Corruption BAe directors challenged at AGM by shareholders on corruption allegations, chair Dick Olver insisted firm had cooperated fully with SFO during inquiry in bribes 10.05.07 Guardian, British Aerospace, Corruption

US, UK Ratify Extradition Treaty US, UK Ratify Extradition Treaty US and UK have exchanged instruments to conclude ratification of 2003 Extradition Treaty, puts and end to principle of 'speciality' under which defendents must be tried on charges for which they were extradited 27.04.07 Telegraph, Home Office Press Release, Criminal Sentencing, Extradition

Plea Deals to Help Insider Dealing Cases Plea Deals to Help Insider Dealing Cases Financial Services Authority (FSA) is to propose plea bargaining, immunity for prosecution witnesses, to help mount greater number of successful insider dealing prosecutions, thought still to be rife in the City 23.04.07 Financial Times, Capital Markets, Inside Trading

Era of DTI Drawing to Close Era of DTI Drawing to Close DTI secretary Alistair Darling, responding to BCC survey, that time is coming for department to be wound down, likely to be incorporated into 'super ministry' when Brown becomes PM 17.04.07 Telegraph, BBC, Administrative Law, Department of Trade and Industry, Insolvency

Middle Manager Is Typical Fraudster Middle Manager Is Typical Fraudster Middle aged while male manager is the typical employee perpetrating fraud, offences often go on for years, internal controls are 'weak' 17.04.07 BBC, Criminal Justice, Fraud

FSA to Examine UK Listing Rules FSA to Examine UK Listing Rules Financial Services Authority is to examine rules governing listing in the UK, response to investor concern that overseas companies - such as Rosneft and Sistema - do not comply with level of standards required of British firms 05.04.07 Telegraph, Financial Times, FSA Press Release, Capital Markets, Financial Services, Financial Services Authority, UK Listing Rules

ABI Slams Pension Accounting ABI Slams Pension Accounting New study from Association of British Insurers (ABI), Understanding Companies' Pension Deficits, accuses key accounting standard, FRS17, of 'exaggerating' threat to pension schemes 28.03.07 Telegraph, Pensions

Torex Failed to Disclose Artemis Sale Torex Failed to Disclose Artemis Sale Retail software developer under inquiry for fraud, Torex Retail, broke AIM rules not revealing that its largest shareholder, fund manager Artemis, had sold entire 6.4% stake 23.03.07 Guardian, Capital Markets, Fraud, Torex Retail

Le Loi des Whistleblowers Le Loi des Whistleblowers Report will recommend France implements law to protect whistleblowers exposing corporate fraud and abuse, strong cultural resistance in state with history of anonymous denunciation 06.03.07 Times, Whistleblowers

RIM Admits Fake Option Prices RIM Admits Fake Option Prices BlackBerry maker Research in Motion has admitted 'almost all' stock options issued to senior executives were falsely priced, accounts to be re-stated, management re-shuffled 06.03.07 Telegraph, Stock Options


Rules for Defined Contribution Pensions Rules for Defined Contribution Pensions Pensions regulator has published paper on its approach to the regulation of defined contribution (DC) pension schemes, emphasis on governance 27.04.07 Pensions Regulator, Pension Regulator, Pensions

FSA Fine for Priniciples Breaches FSA Fine for Priniciples Breaches The Financial Services Authority (FSA) has fined David Whistance, the former Finance Director of W Deb MVL Plc (WDM), £30k for breaches of FSA Principles by failing to exercise due skill, care and diligence 12.04.07 Company Law, Financial Services Authority

Directors Sue for Data Security Breach Directors Sue for Data Security Breach There is a toughening regulatory regime in the UK to punish security breaches, in the US shareholders are entering the arena, suing US parent of stores group TK Maxx following theft of customer data 30.03.07 Eversheds, Capital Markets, Data Protection, Retail Law, US Corporate Governance

AIM Rules Aim for Better Information AIM Rules Aim for Better Information The London Stock Exchange has introduced a new Rule Book for Nominated Advisers (Nomads), setting out duties and responsibilities, Disciplinary Procedures and Appeals Handbook accompanies these new Rules, changes to rules for Companies make it easier for the public to access key information 01.03.07 Law Now, Capital Markets, UK Listing Rules

Whistleblowing Whistleblowing French data protection agency (CNIL) has published FAQs for organisations intending to implement a whistleblowing system in compliance with the single authorisation procedure, explains what a whistleblowing system is, if it complies with SOX financial and accounting requirements 15.05.06 Eversheds, Data Protection, Sarbanes Oxley, Whistleblowers

OFR for Telecoms OFR for Telecoms The first Reporting Standard is aimed at all companies that are required to prepare an Operating and Financial Review, but the implementation guidance included with the Reporting Standard does set out examples of non-financial Key Performance Indicators (KPIs) which may be relevant to the telecoms sector 10.06.05 Law Now, Capital Markets Links, Company Law Links, Telcoms Links

Disqualification Disqualification The trend for bringing non-executives to account for corporate failings has continued with the disqualification of a non-executive director of a former listed company who failed to deal properly with serious allegations about financial irregularities and about misconduct by the companys finance director 03.05.05 Law Now

Pensions Act Update I Pensions Act Update I Since the enactment of the Pensions Act 2004 in November last year, there has been a steady stream of regulations, draft regulations and codes of practice and this is likely to continue over the next 12 months 16.03.05 Law Now, Pension Protection Fund, Pension Regulator, Pensions

HSE Director Liability HSE Director Liability Part of the Health and Safety Executives' (HSE) 'revitalising health and safety' strategy of 2000 was to shine more light on corporate responsibility - in particular directors' duties 14.02.05 Law Now, Health and Safety

Operating and Financial Review Operating and Financial Review On 20 January the Government published a final draft of the Regulations that will require all UK quoted companies to produce an Operating and Financial Review (OFR) and all UK large and medium-sized unquoted companies to produce an expanded directors' report 28.01.05 Law Now, Company Law

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Pharma Business Counsel We have some exciting openings within the legal team to support our ever growing business, in Hertfordshire. More >>

Employment Solicitor You will act for a broad range of existing clients with a particular emphasis on clients in the education and public sectors, Newcastle.
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Restructuring Partner and is looking to recruit an additional partner to work on high profile and complex restructuring matters, in the City.
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Cashbox Director 'Simply Dishonest' Cashbox Director 'Simply Dishonest' Court rules that Carl Thomas, founder of stand-alone ATM business Cashbox, was dishonest in bidding for Thresher contract while negotiating rival bid on behalf of Hanco, where he was still employed, subsequent financial irregularities 28.02.07 Times, Company Law, Employment Law

AIDB Made to Pay for Mayflower AIDB Made to Pay for Mayflower Disciplinary Tribunal has rejected findings of Accountancy Investigation and Discipline Board (AIDB), part of the Financial Reporting Council, in respect of Mayflower, a bus company, orders Board to pay £1m to PwC and David Donnelly, concern at impact on investigations into Torex and MG Rover 15.02.07 Guardian, Financial Services

High Ct Allows Norris Extradition High Ct Allows Norris Extradition Ian Norris, former CEO of Morgan Crucible, has lost appeal on extradition, wanted in US on charges of price-fixing in carbon market, cartels were not formally illegal in UK at the time, prior to Enterprise Act 2002, question whether it is common law offence of conspiracy to defraud Times Decision helps SFO case against price-fixing in NHS drug supply 26.01.07 Times, Competition Law, Extradition, Fraud, NHS Drug Fraud

ECJ Rules Against ASW Pensioners ECJ Rules Against ASW Pensioners ECJ has ruled that under 1980 EC Insolvency Directive, state does not have absolute duty to guarantee pension benefits in cases of insolvency, decision in Robins, Burnett v DWP, pensioners in Allied Steel & Wire (ASW), differs from that of Advocate General, who ruled for complete protection 26.01.07 Times, Law Now, Insolvency, Pension Protection Fund, Pension Regulator, Pensions

Kirby Jailed for Corporate Spying Kirby Jailed for Corporate Spying Founder of Atlantic Waste Holdings jailed for using illegal investigation firm to tap phones, pry into banking data of environmental opponents, other clients also convicted 18.01.07 Times, Criminal Justice, Environment Law, Privacy

Lloyd's Names Denied Class Action Lloyd's Names Denied Class Action High Ct has ruled Lloyd's investors have no right to compensation under EU insurance directive, rejects class action, case turned on claim of poor regulation of insurance in 1990s, leading to massive losses for Names 09.11.06 Reuters, Insurance

Deutsche Chief Faces Retrial Deutsche Chief Faces Retrial Deutsche Bank CEO Josef Ackermann is to be retried for role in bonus payments during Vodafone takeover of Mannesman, prosecutors say payments were 'against the interest' of firms Telegraph Gasp 'of astonishment' at revelation of Ackerman's €15m a year remuneration 27.10.06 Times, EU Law

Compass to Settle Bid Rigging Suits Compass to Settle Bid Rigging Suits Compass will pay £40m to settle two lawsuits brought by Es-Ko International and Supreme Foodservice, claiming £600m for rigging bids for contracts to cater for UN peace missions, 17.10.06 Telegraph, Corruption

Extradition Extradition Judgment due tomorrow on 'Enron 3', facing extradition to US under rules set up to speed transfer of terrorists Times Senior corporate lawyers to complain to Home Office at use of extradition laws to target executives 20.02.06 Financial Times, Enron, Extradition

Compass Contracts Compass Contracts UN has dropped case against Compass subsidiary Eurest, suspected of corruption in contracts to feed peacekeeping troops, wish to avoid disruption 15.02.06 Telegraph








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