Blog
Kingsley Napley’s Medical Negligence Team ‘walks together’ with the Dame Vera Lynn Children’s Charity
Sharon Burkill
9 February 2016
EU criminal justice - promoting fair and effective cooperation
The annual conference of LEAP (the Legal Experts Advisory Panel) took place in Budapest on 5 and 6 February 2016. This provided an opportunity for legal experts from across Europe to discuss the various challenges faced by criminal justice systems. I was pleased to attend the debate as a practitioner expert from the UK and found the key note speeches and break-out sessions allowed for lively debate and in-depth discussion.
9 February 2016
Politically Exposed Persons - House of Commons debates money laundering rules
Whether money laundering rules relating to Politically Exposed Persons (PEPs) were being applied in a “heavy-handed” way by banks was an issue of debate in the House of Commons on 20 January. National rules to give effect to the provisions of the Fourth Money Laundering Directive will need to be implemented by 26 June 2017. The Directive widens the definition of PEP to include domestic individuals holding prominent positions in their home country and clarifies that enhanced due diligence is always appropriate when transactions involve PEPs.
9 February 2016
Anti-money laundering - speeding up the pace of change
The European Commission presented an Action Plan this week to strengthen the fight against terrorist financing. The plan underlines how the adoption of the Fourth Anti-Money Laundering Package represented a significant step in improving the effectiveness of the EU's efforts to combat the laundering of money from criminal activities and to counter the financing of terrorist activities. That said the Commission is now calling on national governments to take action earlier than planned to put national rules in place by end December 2016 rather than end of June 2017.
4 February 2016
Michael Caplan QC offers evidence to justice committee hearing on young adult offenders
The evolving challenges presented by young adult offenders spurred Parliament to launch a Select Committee inquiry into this difficult subject in mid-2015. The Justice Committee received written submissions in September 2015 and has since held a series of hearings to gather further evidence. Michael Caplan QC attended Parliament on Tuesday at the invitation of the Committee. Attending in a private capacity, Michael brought his extensive experience as a lawyer, Recorder in the Crown Court, and member of the Sentencing Council to bear on the discussion.
3 February 2016
Contracts for difference: FCA issues open letter re compliance with financial crime prevention procedures
Following a review of procedures for taking on new clients in a sample of ten firms that offer Contracts for Difference (CFD products), the FCA issued an open letter - “Dear CEO letter” - identifying several concerns its wishes to highlight across the industry. Clarifying the scope of the review, the FCA specified that Contracts for difference, Spread bets and ‘Rolling Spot’ FX are all designated as a type of ‘CFD’ under the Handbook's Glossary of definitions, which in turn are a type of derivative. Ten firms, of varying sizes, were subject to the review which examined:
- Controlling and coercive behaviour
- Corporate crime
- Corporate manslaughter and health and safety
- Crime and justice
- Cyber crime
- Extradition and international crime
- Financial crime and financial regulatory enforcement
- Fraud
- Internal investigations
- Legal Updates
- Online Safety Regulation
- Police investigations
- Proceeds of Crime
- The Economic Crime and Corporate Transparency Act
- Unexplained Wealth Orders
- Youth crime and justice