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Criminal Liability Financial Crimes

Holland & Knight LLP

Cambios legislativos en la Ley Federal para la Prevención de Operaciones con Recursos Ilícitos y el Código Penal

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Las Comisiones Unidas de Justicia y de Estudios Legislativos presentaron el 1 de abril de 2025, un dictamen en sentido positivo, de la iniciativa con proyecto de decreto por el que se reforman y adicionan diversas...more

Venable LLP

False Alarm? SCOTUS to Consider Whether Misleading but Literally True Statements Are “False” Under Federal Criminal Law

Venable LLP on

If you tell your partner that you spent $100 on a rare bobblehead for your office, when the full price was actually $1,000, have you said anything false? Literally, you did spend $100; you just spent another $900 as well....more

WilmerHale

UK Government Publishes Guidance on New Failure to Prevent Fraud Offence

WilmerHale on

On 6 November 2024, the UK Government published the much-anticipated guidance on the new corporate offence of failure to prevent fraud (the “Guidance”). The failure to prevent fraud offence forms part of a huge shift in the...more

Cooley LLP

UK Publishes Guidance on Failure to Prevent Fraud: Companies Without “Reasonable Prevention Procedures” Could Be Held Criminally...

Cooley LLP on

On 6 November 2024, the UK government published guidance in respect of the failure to prevent fraud offence, which was introduced in the Economic Crime and Corporate Transparency Act 2023 (ECCTA).Under this offence, companies...more

WilmerHale

Nick Ephgrave’s First Year as SFO Director

WilmerHale on

Nick Ephgrave QPM, the Director of the Serious Fraud Office (“SFO”), recently marked the end of his first year in office. Ephgrave has brought a renewed energy, sense of purpose and proactive approach to the SFO, opening six...more

BCLP

Confronting and Mitigating Against Corruption

BCLP on

Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more

Latham & Watkins LLP

Failure to Prevent Fraud: Corporates Face New Criminal Offence Amid Accountability Crackdown

Latham & Watkins LLP on

Enhanced SFO powers and promises of swifter action on economic crime underscore the importance of anti-fraud measures for corporates and M&A dealmakers. The UK government is cracking down on corporates turning a blind eye...more

Hogan Lovells

Reforming the legal test for Corporate Criminal Liability in England – a panacea or a placebo?

Hogan Lovells on

It’s certainly true that the UK criminal authorities have been crying out for a shot in the arm in the form of legislative reform, but will changing the law really help the Serious Fraud Office ("SFO") achieve more corporate...more

A&O Shearman

UK Criminal Justice Bill proposes further reforms to the identification doctrine

A&O Shearman on

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

Katten Muchin Rosenman LLP

Fraud, Reform and the Registrar: Economic Crime and Corporate Transparency Act 2023

A year and a half after the Economic Crime (Transparency and Enforcement) Act 2022 received Royal Assent, the Economic Crime and Corporate Transparency Act 2023 (Act) came into law on 26 October 2023. Although the Act does...more

Faegre Drinker Biddle & Reath LLP

New UK ‘Failure to Prevent Fraud’ Offence in Outline

The Economic Crime and Corporate Transparency Act (ECCTA) received Royal Assent and became law on 26 October 2023. It contains a new ‘failure to prevent fraud’ offence whereby large organisations will be held criminally...more

Faegre Drinker Biddle & Reath LLP

Royal Assent for Economic Crime and Corporate Transparency Act 2023

On 26 October 2023, the Economic Crime and Corporate Transparency Act (ECCTA) received Royal Assent and became law. The ECCTA aims to tackle economic crime and improve corporate transparency through several reforms,...more

Orrick, Herrington & Sutcliffe LLP

The Economic Crime and Corporate Transparency Act 2023: What UK Businesses Need to Know

The Economic Crime and Corporate Transparency Act 2023 (the "Act") received Royal Assent on 26 October 2023, setting in motion significant changes to the UK's corporate transparency regime and a transformation process at the...more

White & Case LLP

Thoughts on the new Economic Crime and Corporate Transparency Act - A New Era for Corporate Criminal Liability in the UK

White & Case LLP on

The long-awaited Economic Crime and Corporate Transparency Act received Royal Assent on 26 October. This represents a significant turning point for the law on corporate criminal liability in the UK, and has been welcomed by...more

Jones Day

The Economic Crime and Corporate Transparency Act: A New Era for Corporate Prosecutions?

Jones Day on

The Situation: After a year of debate, the Economic Crime and Corporate Transparency Act (the "Act") was passed into law on 26 October 2023....more

BCLP

How Will Changes to Corporate Criminal Liability Impact the Banking Sector

BCLP on

The Economic Crime and Corporate Transparency Act was passed by Parliament on 26 October. The Act makes significant changes to the law of corporate criminal liability....more

BCLP

The Economic Crime and Corporate Transparency Act receives Royal Assent

BCLP on

The Economic Crime and Corporate Transparency Act (ECCTA) introduces a suite of wide-ranging reforms to tackle economic crime and improve transparency over corporate entities. Under the ECCTA, Companies House will have...more

Morrison & Foerster LLP

Q&A: The Economic Crime and Corporate Transparency Act

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Headlines- • The Economic Crime and Corporate Transparency Act (the “Act”) is part of a wide legislative package to prevent abuse of UK corporate structures and tackle economic crime and received Royal Assent on 26 October...more

A&O Shearman

Reform of UK identification doctrine - significant expansion of corporate criminal liability for economic crimes

A&O Shearman on

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

Cooley LLP

Failing to Prepare is Preparing to Fail: UK Government Proposes ‘Failure to Prevent Fraud’ Corporate Criminal Offence

Cooley LLP on

Economic crime has risen to such a level that UK Finance, a trade association for the UK banking and financial services sector, considers financial fraud to be a “national security threat”. Over £750,000,000 was stolen from...more

Hogan Lovells

The UK Economic Crime and Corporate Transparency Bill – imminent reform to corporate criminal liability?

Hogan Lovells on

In a debate in the House of Commons on Wednesday 26 January 2023, MP Tom Tugendhat indicated that a major reform to corporate criminal liability is imminent. In this article, we take a look at why this reform has been called...more

White & Case LLP

One Step Closer To The Future (Part II) – Statutory Reform to the Identification Principle

White & Case LLP on

Earlier this summer, the Law Commission published its long awaited proposals on reforming corporate criminal liability in England and Wales (the "Options Paper"), following the launch of its discussion paper in June 2021....more

BCLP

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

BCLP on

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

Winstead PC

Undue Influence, Detecting Elder Abuse, and the Duty to Report Financial Exploitation

Winstead PC on

Author David F. Johnson recently presented his paper on “Undue Influence, Detecting Elder Abuse, and the Duty to Report Financial Exploitation” to the Austin Probate Bar Association in Austin, Texas, on May 20, 2022. This...more

A&O Shearman

Economic Crime Act - what businesses need to know

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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

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