UK corporate offence of failure to prevent tax evasion
In this weekly update, we summarise the most notable updates in the UK sanctions world....more
In July 2024, the UK’s Financial Conduct Authority (“FCA”) published its “Quarterly Consultation Paper No. 44” (“Consultation”), which proposed introducing a requirement to provide criminal background checks on owners and...more
If your organisation is both supervised under the UK Money Laundering Regulations (“MLR”) and your UK Revenue exceeds £10.2 million per year, if you are not already, you will need to prepare for the forthcoming Economic Crime...more
Some of the most commonly used trust structures in UK real estate ownership are Jersey Property Unit Trusts (JPUTs). It has become clear recently, following confirmation from HMRC, and HMRC now changing its published...more
Trustees holding UK real estate must generally register the trust with HMRC following the extension of the Trust Registration Service. The TRS was launched in 2017 by the UK government as part of its implementation of the...more
Pension scheme (and other) trustees must register certain trusts with HMRC by 1 September 2022, following the implementation in the UK of the Fifth Money Laundering Directive (5MLD). While the new requirements do not apply to...more
CBDC Research Published, Fintech Firms and Banks Launch Crypto Initiatives - The Boston branch of a major U.S. banking agency and the Massachusetts Institute of Technology recently released “the findings of their initial...more
Introduction - The art market is characterised by high-value, portable items that can be bought and exchanged quickly and often confidentially. These features, which make the market inherently vulnerable to many types of...more
The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 - The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (SI 2020/991) have been published, together with an...more
On 10 January 2020, The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 came into force. As a result, letting agents are now supervised by HMRC for anti-money laundering and counter-terrorist financing...more
On 10 January 2020 the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (the “2019 Regulations”) came into force in the UK, implementing the EU’s fifth Money Laundering Directive (“MLD5”) and amending the...more
HM Treasury and HM Revenue and Customs have launched a consultation on the implementation of rules governing the registration of trusts under the EU Fifth Anti Money Laundering Directive. Responses to the consultation should...more
If you are the trustee of a non-UK trust which has UK assets or UK sources of income, you need to take action before 5 March 2018 or face potential civil and even criminal penalties. The EU's Fourth Anti-Money Laundering...more
Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up-to-date with key developments between trustee meetings, and to support the legal update item on...more
Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with HMRC. ...more
The Criminal Finance Act 2017 received Royal Assent on April 27, 2017, making its way onto the statute book before the halting of Parliamentary business ahead of this year’s general election. As well as giving enforcement...more
The UK Government has published draft Money Laundering Regulations 2017 alongside a consultative document. Publication of the draft Regulations follows a consultation launched by HM Treasury on September 15, 2016, entitled...more
This chart is provided by Perkins Coie LLP’s Decentralized Virtual Currency industry practice group for informational purposes only and is not legal advice. This information is not intended to create, and receipt of it does...more