Financial Crimes, Internal Controls, UK

Beyond Internal Controls: The Importance of Culture in “Failure to Prevent Fraud” Preparation

Ankura on 4/28/2025

The Failure to Prevent Fraud (FTPF) offence will officially come into force as part of the Economic Crime and Corporate Transparency Act in September 2025. In a previous article, we explored the government’s guidance around...more

FCA - Financial Crime Focus Areas for 2024

WilmerHale on 3/6/2024

“Stopping financial crime requires a collective effort...we will be more proactive in our supervision. Where we detect harm or UK-wide financial crime vulnerabilities, we will continue to share intelligence with our partners...more

Potential reforms to the UK’s model for criminal liability: should we be concerned?

BCLP on 7/26/2022

On 10 June 2022, the Law Commission published its long awaited paper setting out ten options that are available to the Government for reform of the common law principles governing corporate criminal liability in the UK. In...more

Banking Bites - July 2022

BCLP on 7/14/2022

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market. This edition covers...more

Bribery Act review: economic crime and failure to prevent offences

BCLP on 6/10/2019

The government published in May 2019 its responses to two Committee reports on financial crime. First, the House of Commons Treasury Committee on 8 March 2019, published its report on “Economic Crime – Anti-money laundering...more

FCA Proposes New Guidance on Financial Crime Systems and Controls

Latham & Watkins LLP on 3/29/2018

The FCA is proposing to add a new chapter on insider dealing and market manipulation to its Financial Crime Guide. Key Points: ..The FCA proposes to add a new Chapter 8 to Part 1 of its Financial Crime Guide, outlining...more