Companies House has been granted new powers to crack down on fraud, but whether it has the resources to take advantage of these and properly clean up the register of companies is questionable.
Originally published by...more
Chartered accountants are accustomed to continuous oversight of their work by regulators. While regulatory supervision can often be a collaborative process, it does sometimes culminate in individual accountants and firms...more
6/7/2023
/ Accountants ,
Anti-Money Laundering ,
Auditors ,
Enforcement Authority ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Reporting Council (FRC) ,
Government Investigations ,
Investigations ,
Regulatory Reform ,
Statutory Penalties ,
Supervision ,
UK
The UK Government yesterday introduced a new corporate “failure to prevent fraud” offence into draft legislation, the Economic Crime and Corporate Transparency Bill (“the Bill”).
This is a significant development in UK...more
4/13/2023
/ Companies Act ,
Compliance ,
Corporate Crimes ,
Corporate Transparency Act ,
Enforcement ,
Financial Crimes ,
Fraud ,
Policies and Procedures ,
Proposed Legislation ,
Serious Fraud Office (SFO) ,
UK ,
White Collar Crimes
On March 1, 2022, the UK Government put forward the Economic Crime (Enforcement and Transparency) Bill. The stated aim of the legislation is to “crack down on dirty money in the UK and corrupt elites”, and it is designed to...more
3/11/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Economic Sanctions ,
Enforcement Authority ,
Financial Crimes ,
Financial Transactions ,
Money Laundering ,
Office of Financial Sanctions Implementation (OFSI) ,
Proposed Legislation ,
Real Estate Transactions ,
Real Estate Transfers ,
Registration Requirement ,
Russia ,
Unexplained Wealth Orders (UWOs)