AI hallucinations crisis: Over 50 fake cases cited in July alone
AI hallucinations—fabricated cases that appear convincingly real—are no longer a fringe issue in legal practice. In July 2025 alone, over 50 cases involving fake legal citations generated by AI tools were publicly reported across multiple jurisdictions. This figure doesn’t even account for private reports still under review, suggesting the true scale of the problem is […]
Sigma Broking’s compliance collapse: A case study in reporting failures
The UK Financial Conduct Authority (FCA) has fined Sigma Broking Limited £1,087,300 for submitting almost 1 million inaccurate or incomplete transaction reports between 2018 and 2023, close to 100% of the firm’s trades during that period. This is not an isolated incident. It follows a £531,600 fine in 2022 for similar transaction reporting breaches and […]
July compliance news round-up
What’s in this update? Key laws incoming: Some DUAA changes begin 20 Aug; Failure to Prevent Fraud starts 1 Sept 2025. FCA & AML fines: New anti-harassment training for 37,000 firms; Monzo, Barclays, and others fined over major AML failings. Sanctions & cyber risks: UK strengthens sanctions enforcement, launches foreign influence register, and faces severe […]
Is your AI meeting bot a legal disaster waiting to happen?
Is the meeting bot silently recording your morning stand-up also quietly building your next legal headache? As many companies embrace AI-powered transcription tools and auto-recording bots for convenience and productivity, they may be overlooking a far more serious risk: legal liability. The concern is simple but significant: any recorded meeting — and their […]
What’s new in Astute – July 2025 update (V3.4.1)
We’ve just released the latest Astute update. This brings a set of thoughtful improvements to help streamline your admin tasks and give learners a smoother experience across the platform. Quality of Life Improvements A number of small but impactful changes have gone live this month, including: Image guidance across the platform – Wherever you can […]
The EBA AML Opinion: Terrorist financing risk landscape in the financial sector
Why terrorist financing remains a priority risk While regulatory attention has largely centred on money laundering and fraud, terrorist financing (TF) risks are quietly but steadily escalating, and the financial sector is not prepared. The European Banking Authority’s (EBA) latest Opinion on ML/TF risks from July 2025 confirms what many compliance professionals already suspect: TF […]
What’s cooking in Congress? Key financial bills every compliance officer should watch
A wave of bipartisan financial legislation is making its way through Congress even as the US House breaks for summer recess. Some vital and important new legislation has already passed the House with near-universal support. These bills target everything from IPO reform and senior protection to fintech risk and retrospective rule analysis. Compliance teams should […]
The compliance agenda for 2030: Risk in a fragmented, fast-moving world
Over the past two decades, compliance has undergone a dramatic transformation. Once a low-priority function focused on basic legal checks and annual training, it has become a critical component of business strategy. Today, it sits at the intersection of regulation, ethics, technology, and public trust. Between 2010 and 2025, we saw the rise of modern […]
The end of the Shareholder Rule: How the Privy Council redefined legal privilege in corporate law
In a decision that has reset the boundaries of corporate privilege, the Judicial Committee of the Privy Council has abrogated the so-called “Shareholder Rule” — a principle long thought to be embedded in English law. For more than a century, companies were prevented from asserting legal privilege against their shareholders, based on the idea that […]
The metadata trap: Why word docs won’t save you from an SRA fine
It’s a compliance horror story just waiting to happen. A firm receives notice of an inspection from the SRA. In response, they quickly pull together their AML policy or firm-wide risk assessment, convert it to a PDF, and send it off. The PDF, of course, was created that morning. And therein lies the […]
