Blog
Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
12 November 2024
Time to comply: failure to prevent fraud is a reality
The government has published official guidance on reasonable fraud prevention procedures, setting the deadline of 1 September 2025 for large organisations to make sure they are compliant
9 November 2023
Introduction to the Economic Crime and Corporate Transparency Act
The passage of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) on 26 October 2023 represents one of the most important developments in the criminal law for UK corporates, their senior management, and their advisers, since the Bribery Act was introduced.
19 September 2023
What’s happening with failure to prevent?
Since our last update on the progress of the Economic Crime and Corporate Transparency Bill, Parliament has taken its summer break, and the British weather has been through all its seasons and back again.
But are we any closer to getting new corporate criminal offences on the statute books? The unavoidably non-committal answer is ‘yes and no’. In this article we chart the progress of the potential new failure to prevent fraud offence, but also the late introduction of amendments to extend the persons who can be the “directing mind and will” of a corporate body in order to establish corporate criminal liability.
14 March 2023
Expansion of failure to prevent: The theory is almost reality
For more than a decade, lawyers, academics and business representatives have been discussing the need for a new approach to corporate criminal liability for economic crime. With significant expansion of the tried and tested failure to prevent (FTP) structure now imminent, and further debate on the Economic Crime and Corporate Transparency Bill scheduled for late March, there are questions still to be answered.
3 February 2023
What does failure to prevent mean for the accountancy sector?
A comment made by Minister of State for Security Thomas Tugendhat during a debate on the Economic Crime and Corporate Transparency Bill (the Bill) on 25th January has sparked a flurry of media reports and speculation. Tugendhat was confirming that the government supported the inclusion of new corporate criminal offences, based on the failure to prevent (FTP) model, in the Bill.