Financial Compliance

Ex-LCF CEO Michael Thomson and wife Debbie admit court order breaches

The Serious Fraud Office (SFO) has announced that Michael and Debbie Thomson, formerly associated with London Capital & Finance Plc (LCF), have admitted to multiple breaches of a court-ordered restraint. This admission has led to them being held in contempt of court. Sentencing is scheduled for April 2, 2026.

Serious Fraud Office Interim Director Appointment

Graham McNulty has been appointed as the Interim Director of the Serious Fraud Office (SFO), effective April 2026. He brings extensive experience in law enforcement and combating economic crime to the role, succeeding Nick Ephgrave.

SFO Secures Confiscation Order Against Fraudster David Ames

The Serious Fraud Office (SFO) has secured a £283,321 confiscation order against David Ames, convicted of defrauding thousands through the Harlequin timeshare scheme. This order represents a significant step in asset recovery following Ames's 2022 conviction and 12-year prison sentence.

SFO Secures 4-Year Prison Sentence for Aircraft Parts Fraud

The Serious Fraud Office (SFO) has secured a 4-year prison sentence for Jose Alejandro Zamora Yrala, director of AOG Technics, for orchestrating a £39.3 million aircraft parts fraud. The scheme involved selling over 60,000 parts with forged airworthiness certificates, causing significant disruption and financial loss to the aviation industry.

Serious Fraud Office Completes E-Discovery Review of Past Convictions

The UK's Serious Fraud Office (SFO) has completed its review of 66 past convictions that used its legacy Autonomy e-discovery system. The SFO found no material casting doubt on the safety of these convictions. A separate issue affecting approximately 20 cases due to digital container file expansion is also being reviewed.

Bank of England: New Deputy Governor for Prudential Regulation Appointed

The Bank of England has announced the appointment of Katharine Braddick as the next Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority, effective July 2026. This appointment follows a review of the PRA's existing initiatives to support lending and reduce business burdens.

Bank of England AI Roundtables Summary

The Bank of England published a summary of its AI roundtables held with regulated firms in February 2026. The discussions focused on the responsible adoption of AI and ML, with participants generally supporting the existing regulatory framework and not seeing an immediate need for new AI-specific guidance.

BEEDS UAT Environment for Statistical Taxonomy v1.3.1

The Bank of England has made a User Acceptance Testing (UAT) environment available for statistical reporting firms and software houses to test Statistical Taxonomy v1.3.1. This UAT window is open from March 30 to April 17, 2026, and is the final UAT before live submissions for end-May 2026 data.

HKMA Alerts Public to Bank Scam Alerts

The Hong Kong Monetary Authority (HKMA) has alerted the public to recent scam alerts issued by several banks. These alerts detail fraudulent websites, phishing attempts, and fraudulent mobile applications targeting bank customers. The HKMA reminds the public of security protocols and advises those affected to contact their banks and the police.

HKMA Exchange Fund Analytical Accounts - Feb 2026

The Hong Kong Monetary Authority (HKMA) released the analytical accounts of the Exchange Fund for February 2026. The report details foreign assets, monetary base, claims on the private sector, and foreign liabilities as per IMF SDDS standards.