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19 September 2013 / Eleanor Mumford-Smith , John Bramhall
Issue: 7576 / Categories: Features , Profession , Litigation trends
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Unfamiliar territory

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John Bramhall & Eleanor Mumford-Smith delve into regulatory investigations, whistleblowing & bribery

The trend for increased regulatory investigations and follow-on criminal proceedings in both the US and UK has shown no sign of abating. With it has also come an eye-watering level of punitive sanction, with fines imposed in the hundreds of millions of pounds or dollars. The threat of financial and criminal penalties is always a great driver in changing business practices, and they do help to focus the business community’s collective mind. In turn, legal advisers have identified this need, and there is a noticeable trend towards firms bulking up expertise, as they ready themselves to meet an increasing demand for regulatory advice to steer them and their employees through unfamiliar waters.

Hold the front page

Regulatory investigations and prosecutions now dominate the broadsheet business sections in a way previously unheard of—energy market rigging, manipulation of LIBOR, and maybe next, ISDA fixing. In June 2013, the criminal investigations arising out of the alleged manipulation of LIBOR led to

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MOVERS & SHAKERS

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From mowing lawns to life at the Bar: Stephen Ward reflects on an unconventional career

Clarke Willmott—Ben Loosemore

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Ellisons—Robert Tiffen

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Robert Tiffen joins Ellisons as Partner in growing Norwich office

NEWS
The Law Society RFC Festival of Sport returns next month, bringing together legal and financial services professionals for one of the sector’s largest annual sporting events
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
From forgotten interest claims to case-management appeals, a string of procedural developments offers useful—and occasionally cautionary—lessons for practitioners

Jonathan Fisher KC highlights that it now accounts for around 40% of criminal offences, with roughly 70% involving technology, and argues that the UK cannot simply prosecute its way out of the problem. Detection, investigation and prosecution all require improvement, while different fraud types demand tailored responses.

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