dcsimg UK Fraud and Regulation

UK Fraud and Regulation

The McGuireWoods London Government, Regulatory and Criminal Investigations Department (GRCI) is led by two partners, Vivian Robinson QC and David Kirk, both senior fraud practitioners who have worked extensively in the fraud field, as both prosecutors and defenders, for the last 30 years. They bring a wide range of experience with fraud, regulation and compliance issues to McGuireWoods’ international practice. London partner Adam Greaves adds civil fraud litigation experience to the team, which is supported by experienced associates. Our team advises clients on economic crime, bribery, anti-money laundering and civil fraud.

Economic Crime

Economic crime encompasses a wide range of fraudulent activity, and our team has extensive experience advising both the victims and the alleged perpetrators of such activity.

There is much current focus on bribery and money laundering, but the problems of fraudulent activity remain very broadly based, from external cyber threats and IT intrusion to employee theft; from investment fraud, Ponzi schemes, pension release and boiler rooms to identity theft; from benchmark, rate fixing cases – Libor, Forex – to misleading statements; and from price-fixing cartels to fraudulent misrepresentations.

The fallout from the global financial crisis continues to exercise law enforcement, reacting to a widespread popular concern that no individuals in the financial sector have been brought to book in the criminal courts, on either side of the Atlantic, for causing global meltdown. While it is unlikely that new criminal action will commence in relation to the events of 2008, the crisis has prompted a review of the criminal sanctions available for dealing with reckless conduct that leads to serious detriment, and it can be anticipated that there will be greater scrutiny of boardroom decision-making, and demands for greater transparency and accountability of senior executives. We help our clients comply with all regulations regarding economic crime and anticipate any issues that may affect their businesses.

Bribery

The UK recently launched a new Bribery Act in response to heavy criticism at home and abroad for its dated approach to global anticorruption. Prosecutions for violations are imminent, and many global companies may very well be at risk. Our London-based anticorruption team regularly works alongside our U.S. GRCI partners to advise on all aspects of the Bribery Act and FCPA investigations, from fully contesting the allegations, to negotiating a global settlement that does not involve a criminal trial in any country.

Having closely monitored the Bribery Act since its inception, the team has supported a series of seminars, webinars and client presentations focusing on the Bribery Act, as well as providing an ongoing, widely read blog – briberylibrary.com. This has now been renamed www.thefraudboard.com, to reflect the firm’s broad offering in criminal and civil fraud services, generally including the UK Bribery Act, U.S. FCPA, anti-money laundering, market abuse, economic crime, contentious financial regulation and international investigations.

Anti-Money Laundering (AML)

AML has been a priority for EU and U.S. governments and law enforcement since at least the early 1990s. Keeping up with the regulations is a relentless task for firms, and one which poses persistent problems for all who have to absorb the detail.

The FCA has signalled that it does not regard AML compliance as satisfactory, and it may be anticipated that there will be investigations into financial sector businesses, by way of thematic reviews and in response to specific complaints. Criminal action may be taken against firms and their senior officers for failing to have proper systems in place, and regulatory sanctions have already been imposed for systems and controls failures. Other law enforcement authorities and regulators in the UK and in other jurisdictions are taking assertive action to remedy money laundering failings. We work with our clients to comply with such AML regulations.

The increased use of sanctions as a political weapon against countries and individuals has led to further enforcement activity and investigation, alongside additional scrutiny of the financial transactions of Politically Exposed Persons (PEPs), which compounds the risks banks face in dealing with their customers.

Civil Fraud

Our fraud team has more than 25 years’ experience in civil fraud recovery actions, including international asset searches, worldwide freezing orders, evidence search orders and pre-action disclosure orders. We frequently work with several foreign jurisdictions in order to obtain local freezing and attachment of asset orders to ensure that stolen assets cannot be further dissipated. Working with forensic accountants and international investigation firms, we endeavour to lift the veil on sham transactions, as well as attack complex fraudulent international corporate and trust structures, which often are used to shelter stolen assets and to hide the true identity of the perpetrators. These civil legal proceedings frequently are pursued alongside, or in conjunction with, criminal investigations in one or more countries. We have both contacts and experience in cooperating with government investigators and prosecutors around the world. Clients benefit from the coordination of our civil, criminal and regulatory lawyers’ fraud experience, which combine to ensure that all legal strategies are pursued in order to ensure maximum financial recoveries for our clients.

CONTACTS

Adam Greaves Partner T: +44 20 7632 1649
Vivian Robinson QC Partner T: +44 20 7632 1732
David N. Kirk Partner T: +44 20 7632 1685
Results 1-12 of 12

RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Fortune 500 company

Conducted FCPA programme review and audit for a Fortune 500 company covering its businesses in North America, Europe and Asia, including site reviews of operations throughout Eastern and Western Europe.
Representative Matter

Fortune 500 company

Provided regular FCPA-related M&A due diligence reviews for a Fortune 500 client.
Representative Matter

Fortune 500 company

Conducted an internal investigation of a Fortune 500 company regarding compliance with the FCPA, covering company operations around the world.
Representative Matter

Major telecommunications company

Conducted an internal investigation of a major telecommunications company facing charges of making gifts to state officials.
Representative Matter

Manufacturer

Conducted an internal investigation of a manufacturer regarding allegations of kickbacks.
Representative Matter

Various clients

Advising clients on UK Bribery Act compliance, including policy drafting, updates, risk assessment, training and monitoring.
Representative Matter

FTSE 100 construction company

Acting for a FTSE 100 construction company in a very large public corruption investigation, including liaising with the police, conducting an internal investigation and dealing with the media and associated civil claims.
Representative Matter

Individual in high profile multi-jurisdictional claims

Defence of an individual in relation to high profile multi-jurisdictional claims for fraud and forgery made by a Middle Eastern royal for $250,000,000, including liaising with the client’s criminal lawyers, bringing claims against the media for libel, advising on the effects of a worldwide freezing order, and seeking variations to the order.
Representative Matter

CIS bank

Representation of CIS bank in the recovery of funds loaned to a metal trader through arbitration and litigation, including pursuing the principal shareholder and his advisers and associates for fraud in connection with the security for the loan.
Representative Matter

Client in purchase of several lines business

Provided FCPA-related M&A due diligence review for a client purchasing several lines of business from a Fortune 500 company, including business units subject to the terms of DOJ and SEC settlement agreements related to violations of the UN's Iraq Oil-for-Food program.
Representative Matter

Fortune 10 company

Conducted a series of FCPA reviews and investigations for a Fortune 10 company regarding its business operations in countries throughout the world, including site reviews of facilities in North and South America. This includes engagement with the DOJ and SEC.
Representative Matter

Major mobile phone companies

Assisted two major mobile phone companies in USD $2 billion fraud defense in a multi-jurisdictional asset tracing and recovery action, including obtaining freezing orders and attachment orders in many countries.
Results 1-12 of 12
Maurice A Bellan Maurice A. Bellan
Partner
2001 K Street N.W.
Suite 400
Washington, DC 20006-1040

T: +1 202 857 2400
F: +1 202 828 2981
vCard
William J Boddy William J. Boddy
Associate
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1625
F: +44 20 7632 1638
vCard
Alex J Brackett Alex J. Brackett
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 4749
F: +1 804 698 2089
vCard
Adam Greaves Adam Greaves
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1649
F: +44 20 7632 1638
vCard
Hardeep S Nahal Hardeep S. Nahal
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1680
F: +44 20 7632 1638
vCard
Vivian Robinson QC Vivian Robinson QC
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1732
F: +44 20 7632 1638
vCard
Michael L Simes Michael L. Simes
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7013
F: +1 212 715 6260
vCard
Andrew Thornton-Dibb Andrew P. Thornton-Dibb
Associate
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1636
F: +44 20 7632 1638
vCard
Results 1-7 of 7
Speaking Engagement

Compliance with the UK Bribery Act for Private Equity Firms

December 18, 2012
Video Seminar
Speaking Engagement

British Business Round Table

UK Anti-Bribery Act

31 November 2011
Speaking Engagement

Video: McGuireWoods Analyzes UK Bribery Act

September 2011
Speaking Engagement

U.K. Bribery Act

May 20, 2011
Event

UK Bribery Act 2010

October 11-13, 2010
Event

UK Bribery Act 2010

New Compliance Challenges for International Businesses

June 23, 2010
Results 1-7 of 7
Results 1-20 of 22
Show All
Legal Alert

2014 Food Industry Outlook

January 8, 2014
Legal Alert

SEC Comments Bring Commercial Bribery Clearly into FCPA Scope

Subject to Inquiry
December 20, 2013
Legal Alert

Brazil is the Latest Country to Change the Anticorruption Landscape

Subject to Inquiry
August 27, 2013
Legal Alert

The SFO Reinforces its Stance on Facilitation Payments Enforcement

Bribery Library
January 24, 2013
Legal Alert

The DOJ's Guiding Principles of Enforcement

Bribery Library
November 26, 2012
Legal Alert

SEC and DOJ Release Long Awaited FCPA Guidance

Bribery Library
November 16, 2012
Article

Deferred Prosecution Agreements in the UK

Compliance & Risk
Volume 1, Issue 3 (2012)
Article

The UK Bribery Act: Implications for Swedish Companies

Juridisk Tidskrift Vid Stockholms Universitet
2011-12 NR 3
Article

Preventing Bribery

Managing Partner
July/August 2011
Legal Alert

UK Bribery Act Now in Effect

July 1, 2011
Legal Alert

Bribery Act 2010

Employment Implications

February 18, 2011
Article

UK Bribery Act 2010

Will you leave your business defenceless?

INFO
July/August 2010
Results 1-20 of 22