News & Analysis as of

Ukraine Beneficial Owner

American Conference Institute (ACI)

Sanctions Compliance Measures to Mitigate Russia Trade Sanctions Evasion Tactics

The various and elusive tactics used by Russia to evade global sanctions and export controls have grown increasingly sophisticated over the last several months, putting the onus on multinational entities to become equally...more

Proskauer Rose LLP

UK Corporate Transparency - Sweeping Changes on the Horizon

Proskauer Rose LLP on

In February 2022, the UK Government published the Corporate Transparency and Register Reform White Paper (the “White Paper”), which set out its plans to reform Companies House and increase the transparency of UK corporate...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

ArentFox Schiff

Investigations Newsletter: Elizabeth Holmes Sentenced to 11 Years in Prison 

ArentFox Schiff on

Elizabeth Holmes Sentenced to 11 Years in Prison - On November 18, 2022, former Theranos CEO, Elizabeth Holmes, was sentenced to 11 years and three months in prison for defrauding investors regarding Theranos’ blood...more

Mintz Edge

FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S....

Mintz Edge on

On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of...more

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

Dechert LLP on

This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more

Dechert LLP

Register of Overseas Entities Comes into Force – are you ready?

Dechert LLP on

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

Holland & Knight LLP

Navigating Russian Sanctions in Corporate Jet Transactions

Holland & Knight LLP on

The U.S., European Union (EU), United Kingdom (U.K.) and many other countries have imposed similar but not necessarily identical sanctions on Russia. In corporate jet transactions, the sanctions laws of several jurisdictions...more

K&L Gates LLP

Real Estate Ownership and the Implications of the Economic Crime (Transparency and Enforcement) Act

K&L Gates LLP on

The invasion of Ukraine by Russia has pushed forward a wider government agenda to encourage transparency in relation to how overseas entities own UK real estate. We first reported many years ago on the details of the...more

Cohen & Gresser LLP

The Economic Crime Act: What will Change for Managers of Offshore Structures

Cohen & Gresser LLP on

In the early hours of 15 March 2022, the Economic Crime (Transparency and Enforcement) Act (the “Act”) came into force. The rapid passage of the Act through the UK Parliament, after years of delays, came in response to...more

Cadwalader, Wickersham & Taft LLP

Measures Against Russia (Only)? UK Economic Crime (Transparency and Enforcement) Act 2022

Rushed through the Parliament in response to Russia’s invasion of Ukraine, the new Economic Crime (Transparency and Enforcement) Act (the “Act”) received Royal Assent on 15 March 2022....more

Latham & Watkins LLP

The Economic Crime (Transparency and Enforcement) Act 2022 Receives Royal Assent

Latham & Watkins LLP on

New legislation introduces further sanctions powers and aims to tackle financial crime by revealing identities of overseas beneficial owners of UK property. Following the UK government’s successive sanctions packages,...more

Hogan Lovells

UK Economic Crime Act fast-tracked into law – bringing major reforms to the UK’s sanctions regime

Hogan Lovells on

As a further response to Russia’s invasion of Ukraine, the Economic Crime (Transparency and Enforcement) Act (the “Act”) has been fast-tracked into law and received royal assent in the early hours of 15 March 2022. The Act,...more

Hogan Lovells

UK Government endorses transparency of overseas real estate ownership

Hogan Lovells on

As long ago as 2015, then Prime Minister David Cameron announced his determination to tackle “dirty money” in UK property. A lot of water has flowed under the political bridge since then but the invasion of Ukraine by Russian...more

BCLP

Government expedites legislation on a register of overseas entities that own UK property in its Economic Crime (Transparency and...

BCLP on

As part of its response to the Russian invasion of Ukraine, HM Government intends to fast-track the long-awaited Economic Crime (Transparency and Enforcement) Bill. The Bill requires overseas entities to register with, and...more

White & Case LLP

EU targets Wagner Group and three oil & gas companies over alleged human rights violations and destabilising activities in...

White & Case LLP on

On 13 December 2021, the EU imposed sanctions against the Wagner Group, a private military entity based in Russia, as well as related entities and individuals, citing human rights abuses and destabilising activities in...more

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