Earlier this year Dechert reported on the new Register of Overseas Entities ("ROE"), introduced in March as Part 1 of the Economic Crime (Transparency and Enforcement) Bill (the "Bill"). The Bill was enacted on 15 March 2022,...more
8/1/2022
/ Beneficial Owner ,
Financial Crimes ,
Foreign Entities ,
Foreign Investment ,
Real Estate Investments ,
Regulatory Reform ,
Regulatory Requirements ,
Russia ,
UK ,
Ukraine ,
White Collar Crimes
In the early hours of 15 March 2022, following a wait of almost five years, the UK Parliament introduced into law the Economic Crime (Transparency and Enforcement) Act (the "Act"). The Act was fast-tracked at an...more
3/22/2022
/ Anti-Corruption ,
Anti-Money Laundering ,
Corruption ,
Financial Crimes ,
Foreign Investment ,
Money Laundering ,
Pending Legislation ,
Regulatory Reform ,
Regulatory Standards ,
UK ,
Unexplained Wealth Orders (UWOs) ,
White Collar Crimes
The criminal justice system in England and Wales, as in other nations, is severely impacted by Covid-19, and is under immense pressure. This extends beyond the investigation and prosecution of criminal activity surrounding...more
4/26/2020
/ Coronavirus/COVID-19 ,
Corporate Misconduct ,
Criminal Investigations ,
Criminal Prosecution ,
Financial Crimes ,
Fraud ,
Interim Charging Protocol ,
National Crime Agency (NCA) ,
Popular ,
Risk Assessment ,
Risk Mitigation ,
Serious Fraud Office (SFO) ,
State of Emergency ,
UK
The British Parliament has recently published two important post-legislative assessments of the effectiveness of the UK’s financial crime legislative framework, as well as an insight into future areas of focus....more
3/29/2019
/ Anti-Money Laundering ,
Corporate Misconduct ,
Deferred Prosecution Agreements ,
Failure to Prevent ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Legislative Reports ,
Ministry of Justice ,
Office of Financial Sanctions Implementation (OFSI) ,
Person with Significant Control (PSC Register) ,
Self-Reporting ,
Serious Fraud Office (SFO) ,
Suspicious Activity Reports (SARs) ,
UK ,
UK Brexit ,
UK Bribery Act ,
UK Criminal Finances Act 2017 ,
White Collar Crimes
The Criminal Finances Act 2017 (the “Act”) represents a further significant development in the approach to the investigation and prosecution of financial crime in the UK1. The new offence of failure to prevent the...more
The UK Criminal Finances Act 2017 (the “Act”) represents a further significant development in the approach to the investigation and prosecution of financial crime in the UK. The new offence of failure to prevent the...more
6/15/2017
/ Banks ,
Criminal Investigations ,
Disclosure Requirements ,
Financial Crimes ,
Financial Services Industry ,
Information Sharing ,
Money Laundering ,
Moratorium ,
Reporting Requirements ,
Suspicious Activity Reports (SARs) ,
UK ,
UK Criminal Finances Act 2017
Part One: "A Fistful of Tax Dollars" - A New Corporate Offence of Failure to Prevent the Facilitation of Tax Evasion..
The Criminal Finances Act 2017 represents a further significant development in the approach to the...more