Corporate crime

15 January 2019

Tackling illicit finance: lawyers under the spotlight

At the end of last year the National Crime Agency published its annual report on Suspicious Activity Reports (SARs) for 2018. Media reporting (such as in the FT, subscription required), on the annual report has focussed, amongst other things, on the relatively small proportion of SARs made by lawyers. Is this a fair criticism and, if so, what is the reason for it?

Jonathan Grimes

3 December 2018

Reform of corporate liability – renewed calls for change

The House of Lords Bribery Act committee inquiry heard evidence recently from Serious Fraud Office (“SFO”) Director Lisa Osofsky and Director of Public Prosecutions Max Hill QC. This was preceded earlier in the morning with an evidence session with Sir Brian Leveson, President of the Queen’s Bench Division, where the issue of Deferred Prosecution Agreements was the focus.

Louise Hodges

13 November 2018

The UK’s new National Economic Crime Centre

On 11 December 2017, the UK government published its five year Anti-Corruption strategy with the aims of preserving the UK’s status as “one of the safest and cleanest places in the world to do business", and “building a strong, confident Global Britain”.  Since 2010 the UK has taken significant steps to fight bribery and corruption, and is now ranked, according to Transparency International, as one of the ten least corrupt countries in the world. Notwithstanding this, money laundering and corruption remain a growing threat: the National Crime Agency estimates that over £90bn are laundered through the UK economy each year.

Ed Smyth

31 October 2018

What is a Cartel?

Last week, the CMA launched a new campaign to raise awareness of business cartels.  The campaign is designed to send a “tough message to business cheats” which features a cartels hotline and also includes potential financial rewards for those who report suspected cartels.

Nick Dent

17 October 2018

FCA to regulate Claims Management Companies and caps on fees introduced

A number of provisions in the Financial Guidance and Claims Act 2018 (“the Act”) came into force on 1 October 2018, following the Act receiving Royal Assent on 10 May 2018.  Amongst other things, the Act transfers the regulation of Claims Management Companies (“CMCs”) from the Ministry of Justice (“MoJ”) to the Financial Conduct Authority (“FCA”) and imposes caps on the fees which CMCs can charge.  The FCA will take over regulation from April 2019.

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