What is happening?
The Economic Crime and Corporate Transparency Bill (the “Bill”) is currently going through the UK Parliament. On 11 April 2023, the Government introduced a draft amendment that will create a new...more
On 8 June 2022, and to coincide with the introduction of amendments to the Economic Crime (Transparency and Enforcement) Act 2022 (“the Economic Crime Act”), the UK’s Office of Financial Sanctions Implementation (“OFSI”)...more
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
3/25/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Crimes ,
Corporate Governance ,
Disclosure Requirements ,
Economic Sanctions ,
Foreign Entities ,
Foreign-Owned Corporations ,
Person with Significant Control (PSC Register) ,
Politically Exposed Person (PEPs) ,
Real Estate Transactions ,
Real Estate Transfers ,
Russia ,
Transparency ,
UK ,
Ukraine ,
Unexplained Wealth Orders (UWOs)
Introduction - The UK Financial Conduct Authority (the “FCA”) issued a prohibition order against Mr Frensham based on his conviction for an offence which did not involve financial fraud or dishonesty and was unrelated to...more
Introduction - On 14 February 2021, Neil Woodford (a high-profile investment manager in the UK) announced his intention to launch a new fund management firm operated out of the UK and Jersey. Woodford’s announcement was...more
The need for tighter control on employees’ use of chat applications when conducting or discussing company business. What we learned from the FCA’s 2020 Vishnyak prosecution and the FCA’s reminder about the need to record...more
At the end of June 2020, the Financial Conduct Authority (the “FCA”) issued a public censure to Redcentric PLC for market abuse resulting from significant accounting errors. The resolution is particularly eye-catching because...more
7/8/2020
/ CFOs ,
Compensation Schemes ,
Coronavirus/COVID-19 ,
Criminal Prosecution ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Inflated Financial Statements ,
Internal Investigations ,
Market Abuse ,
Publicly-Traded Companies ,
Resignation ,
Self-Reporting ,
Settlement Negotiations ,
Shareholders ,
UK
On 10 January 2020 the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (the “2019 Regulations”) came into force in the UK, implementing the EU’s fifth Money Laundering Directive (“MLD5”) and amending the...more
The shock waves from the German authorities’ tax evasion investigation into cum-ex transactions, a complex form of dividend arbitrage, continue to be felt throughout Europe. A large number of UK and European financial...more
12/10/2019
/ Arbitrage ,
Capital Gains ,
Capital Gains Tax ,
Criminal Investigations ,
Criminal Prosecution ,
Dividends ,
Enforcement Actions ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Germany ,
Securities Transactions ,
Tax Evasion ,
Trading Plans ,
Withholding Tax