The £150 million judgment makes clear the full impact of the trading misfeasance offence for directors....more
FRP Advisory Trading Limited won the United Kingdom's largest-ever wrongful trading claim and successfully established the first "misfeasance trading" claim against former directors of British Home Stores ("BHS"),...more
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
11/7/2023
/ Corporate Crimes ,
Corporate Entities ,
Corporate Governance ,
Corporate Transparency Act ,
Criminal Liability ,
Failure to Prevent ,
Financial Crimes ,
Fraud ,
Investigations ,
Regulatory Agenda ,
UK ,
UK Bribery Act ,
White Collar Crimes
In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area...more
10/18/2023
/ CFTC ,
Compliance ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Department of Justice (DOJ) ,
Electronic Communications ,
Financial Industry Regulatory Authority (FINRA) ,
Guidance Update ,
Instant Messaging Apps ,
Mobile Devices ,
Policies and Procedures ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes ,
Workplace Communication
In Short -
The Situation: Following years of lobbying by senior prosecutors and other commentators, the UK government seems set to introduce an offence of a corporate failing to prevent economic crime....more
In This Issue:
Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements -
Section 365(h) of the Bankruptcy Code provides special protection for tenants if a...more
The deal reached between HM Government and the European Union on December 24, 2020, does not include any framework for the coordination and mutual recognition of cross-border insolvencies and restructurings. For the purposes...more
The last five years have seen a substantial increase in the number and variety of regulated firms operating in the United Kingdom, with the development in particular of financial services provided by new technology firms,...more
The Issue: The UK Supreme Court was asked to decide whether section 2 of the Criminal Justice Act 1987 granted the Serious Fraud Office ("SFO") powers to compel the production of documents held outside the United Kingdom. ...more
As the novel coronavirus (COVID-19) pandemic is spreading around Europe and governments take steps towards slowing down the propagation of the virus, courts are reducing activities. In every jurisdiction, where efforts are...more
As the activity of administrative authorities and courts is directly impacted by measures to slow down the coronavirus (COVID-19) pandemic, many questions arise as to the impact on proceedings and deadlines for private...more
The Situation: The Financial Conduct Authority ("FCA") is extending the Senior Managers and Certification Regime ("SMCR") to FCA solo-regulated firms on 9 December 2019 and has also released a number of statements in relation...more
The Situation: Protecting intangible property can be extremely challenging, but significant and effective tools are available under English law to minimize significant harm to entities that have been victimized by a data...more
6/10/2019
/ Confidential Information ,
Data Breach ,
Data Protection ,
English Common Law ,
EU Trade Secrets Directive ,
Intellectual Property Protection ,
Member State ,
Misappropriation ,
Trade Secrets ,
UK ,
UK Brexit
In Short: The Bank of England ("BoE") has published its final policy statement and procedures for its new Enforcement Decision Making Committee ("EDMC").
The Result: The EDMC will be the BoE's independent decision-making...more