With much fanfare, the Serious Fraud Office has launched its refreshed guidance on Corporate Cooperation and Enforcement. The guidance coincides with several new powers the SFO is eager to use. Overall, the agency is...more
The Procurement Act 2023 launches a new, post-Brexit procurement regime, with many significant changes to the predecessor regime. It is now even more important for a company to challenge promptly a UK public authority’s...more
We asked our global white collar crime team for their views on the key challenges in 2024 for in‑house investigations teams and white collar crime lawyers, and how to manage the associated risks. Here is what they said....more
1/26/2024
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The UK government is already proposing further expansion to the basis on which companies can be fixed with criminal liability.
The Economic Crime and Corporate Transparency Act 2023 (ECCTA), passed in October, significantly...more
12/6/2023
/ Corporate Crimes ,
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The new Economic Crime and Corporate Transparency Act 2023 (the Act) is the latest step in the UK Government’s attempts to address economic crime and improve transparency over corporate entities. Whilst most of the key...more
10/30/2023
/ Corporate Counsel ,
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As part of the Economic Crime and Corporate Transparency Act 2023, there are two new 'pay-away' exceptions to the need for a firm in the regulated sector to file a Defence against Money Laundering -
Previously a firm in...more
10/27/2023
/ Anti-Money Laundering ,
Corporate Crimes ,
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Corporate Transparency Act ,
Enforcement ,
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UK
Where a criminal offence requires proof of a specific mental state, or ‘mens rea’ (such as intent, recklessness or dishonesty), previously a company could only be found guilty if an individual who represented the company’s...more
The Economic Crime and Corporate Transparency Act 2023 was granted Royal Assent on 26 October 2023. It contains a new ‘failure to prevent fraud’ corporate criminal offence which will render large companies liable for fraud...more
10/26/2023
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2022 saw a big shift in the geo-political climate and a bedding in of the new hybrid working world. These two developments are reflected in the blogs our subscribers were most interested in reading. Readers remain focused on...more
1/10/2023
/ Economic Sanctions ,
Financial Conduct Authority (FCA) ,
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Russia ,
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Ukraine
As part of its crackdown on dirty money, the UK Government has published a second Economic Crime and Corporate Transparency Bill. The 250 page Bill covers a wide range of proposed reforms. This post focusses on the proposed...more
The long-awaited Economic Crime (Transparency and Enforcement) Act received royal assent this morning, after having been fast tracked through the UK Parliament. Here are the key reforms of relevance to businesses....more
The long-awaited Economic Crime (Transparency and Enforcement) Bill (Bill) is being fast tracked through the UK Parliament. Here are the key reforms of relevance to businesses. ...more
The UK Government issued new guidance in July 2021 on how it considers companies and individuals should approach the question of disclosure of suspicious activity reports (SARs) in English civil litigation. The guidance...more
The UK Law Commission is considering whether corporate criminal liability law should be reformed and two weeks ago MPs proposed a new economic crime corporate offence to be included in the Financial Services Bill. What is the...more
The Head of the Financial Crime Department at the UK Financial Conduct Authority (the FCA), Rob Gruppetta, gave a speech on "Using artificial intelligence to keep criminal funds out of the financial system" in December 2017....more
The law and practice relating to financial crime and investigations is evolving fast. In the past 18 months we have seen two new Acts aimed at combatting financial crime (including the creation of two new corporate criminal...more