An Introduction To The UK's Unexplained Wealth Orders

Orrick, Herrington & Sutcliffe LLP

Law enforcement authorities in the U.K. have obtained a new instrument in their fight against crime. Starting Jan. 31, 2018, U.K. enforcement authorities can apply for court orders against individuals suspected of being involved in or connected to serious crime or "politically exposed persons" ("PEP") outside the European Economic Area("EEA"), requiring them to explain the source of their assets. The new orders, known as "unexplained wealth orders" or "UWOs," have a wide geographical scope and may apply to any property, tangible or intangible, with a value greater than 50,000 pounds.

Originally published in Law360 - March 13, 2018.

Please see full Publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick, Herrington & Sutcliffe LLP | Attorney Advertising

Written by:

Orrick, Herrington & Sutcliffe LLP

Orrick, Herrington & Sutcliffe LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.