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Serious Fraud Office (SFO) Financial Conduct Authority (FCA)

WilmerHale

Rewarding Whistleblowers Will Only be Effective as Part of a Wider Package of Reforms

WilmerHale on

Serious Fraud Office (SFO) Director Nick Ephgrave has consistently touted the benefits of offering financial rewards to whistleblowers. With the FCA also considering its position on financial incentivisation, and a supportive...more

Cohen & Gresser LLP

UK Options for Whistleblower Financial Incentive Programmes in Economic Crime Investigations

Cohen & Gresser LLP on

On 13th February 2024, in a wide-ranging speech, the Director of the UK Serious Fraud Office (SFO), Nick Ephgrave, publicly stated his provisional support for financial incentives to whistleblowers in allegations of...more

American Conference Institute (ACI)

U.K. Parliament Giving Whistleblower Protections a Fresh Review

Recent legislative developments in the United Kingdom, public remarks from the new director of the UK Serious Fraud Office (SFO), and recent parliamentary hearings on the Post Office Horizon scandal put a spotlight on...more

Morrison & Foerster LLP

The UK’s Serious Fraud Office Under Nick Ephgrave – One to Watch at Home and Away

On 13 February 2024, Nick Ephgrave gave his inaugural public speech as the new Director of the UK’s Serious Fraud Office (SFO). With a background in law enforcement, including as assistant commissioner of the Metropolitan...more

Proskauer Rose LLP

Regulation Round Up - June 2023

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MiFIR / MiFID II: The European Parliament published a press release announcing it has reached provisional political agreement with the Council of the EU on the proposed amendments to the Markets in Financial Instruments...more

WilmerHale

The Gambling Commission reaffirms its status as one of the UK’s most active AML enforcement authorities.

WilmerHale on

On 28 March 2023, the UK Gambling Commission (the Commission) announced that three gambling businesses owned by William Hill Group would pay a total financial penalty of £19.2 million for social responsibility and anti-money...more

WilmerHale

Sanctions, Fraud is Coming to Town: 2022 in Review

WilmerHale on

In 2022, the UK was forced to reckon with the charge of being soft on economic crime and being the destination of choice for kleptocrats seeking to launder their ill-gotten funds. No longer able to turn a blind eye to these...more

BCLP

Banking Bites - August 2022

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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....more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, and Regulatory Enforcement - April 2022

As the world watches in horror as the Russian invasion of Ukraine continues to unfold, the UK, as well as its allies and partners, has introduced a number of sanctions and trade restrictions in response. In this Quarterly...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, and Regulatory Enforcement - December 2021

Morrison & Foerster LLP on

In the final Quarterly Review of 2021, we reflect on a year that has seen the UK acclimatise to life outside of the EU, whilst, like the rest of the world, contending with the difficulties brought on by the global coronavirus...more

American Conference Institute (ACI)

[Event] Anti-Corruption London - November 2nd - 3rd, London, United Kingdom

C5's 15th International Conference on Anti-Corruption London will take place November 2 – 3, 2021 in Millennium Hotel London Knightsbridge, London. Join your peers for the IN-PERSON reunion of the legal and compliance...more

WilmerHale

The SMCR, five years on

WilmerHale on

Five years ago, on 7 March 2016, the Senior Managers and Certification Regime (SMCR) came into force. At first it applied only to dual-regulated banks, those which are regulated both by the FCA and PRA. Originally...more

WilmerHale

UWOs three years on: Underused and overpriced

WilmerHale on

In January 2018 the Criminal Finances Act 2017 (“the Act”) came into force. The Act brought in a number of important legal developments, including Asset Freezing and Forfeiture Orders (“AFFOs”) and the offence of failure to...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, And Regulatory Enforcement

In our Quarterly Review, we bring you important UK developments relating to business crime, investigations, and regulatory enforcement from the last three months. As the UK gets used to life outside the EU and implements...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, And Regulatory Enforcement - December 2020

Morrison & Foerster LLP on

In our Quarterly Review, we bring you important UK developments relating to business crime, investigations, and regulatory enforcement from the last three months. Please contact us if you would like to discuss any of these...more

Hogan Lovells

Financial institutions general regulatory news, November 2020 # 2

Hogan Lovells on

Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 - The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2020 (SI 2020/1274) have been published, together with an explanatory...more

WilmerHale

Fresh inquiry into economic crime will push UK further towards expansion of ‘failure to prevent’ legislation

WilmerHale on

On 23 October, the Treasury Committee launched a further inquiry to review what progress has been made in combatting economic crime. While the inquiry is focused on the effectiveness of the existing anti-money laundering...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations And Regulatory Enforcement - UPDATED September 2020

In our Quarterly Review, we bring you important UK developments relating to business crime, investigations and regulatory enforcement from the last three months. We commented last month that the scale of the impact of the...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations And Regulatory Enforcement

In our Quarterly Review, we bring you important UK developments relating to Business Crime, Investigations and Regulatory Enforcement from the last three months. Please contact us if you would like to discuss any of these...more

Dechert LLP

Clarification of Test for Dishonesty in English Criminal Law: Impact on Complex Fraud Cases

Dechert LLP on

Following the judgment of the English High Court in Serious Fraud Office v Barclays Plc & Another1, prosecutors are aware that they now face a more onerous task when trying to establish corporate criminal liability. However,...more

Cooley LLP

Alert: Remaining Vigilant to Compliance and Enforcement Concerns in Times of Crisis

Cooley LLP on

In times of increased financial stress—and particularly during times of financial shock where expectations and reality diverge significantly and rapidly—internal and external pressures can lead to risk-taking with lasting...more

WilmerHale

I’m Dreaming of a White (Collar) Christmas: 2019 in Review

WilmerHale on

The year 2019 has been something of a mixed bag for the UK’s criminal and regulatory authorities. While the Serious Fraud Office (“SFO”) and Financial Conduct Authority (“FCA”) appear to have taken involuntary sabbaticals...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - September 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

Dechert LLP

UK Bribery Act Receives Glowing Report While Other Areas of Economic Crime Prevention "Could Try Harder"

Dechert LLP on

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

BCLP

The UK’s Anti-Money Laundering framework is on the cusp of a facelift – are you ready for it?

BCLP on

With the UK on the brink potentially of exiting the EU and business certainty at an all-time low, the Government faces enormous pressure to ensure that the UK remains an attractive place to do business. One very significant...more

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