- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Serious Fraud Office has charged Barclays and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act.
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The Serious Fraud Office suffered another major setback in the U.K.’s first trial against bank executives for misconduct during the 2008 financial crisis, after three former executives of Barclays were acquitted of fraud charges.
Barclays is in hot water with the SFO over a conspiracy (code-named Cadmium) to engage in illegal lending with Qatar at the height of the financial crisis.
Legal cases and fines for noncompliance with EU’s GDPR could rise sharply after a court found that a breach was a source of unfair competition. The judgment also opens doors to civil cases over companies that ignoring expensive or challenging rules, such as those regarding AML/CFT.
