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Jan 15, 2025 | 
mondaq.com | Bethany Gregory
AO A&O Shearman More A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world.
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Jan 15, 2025 | 
jdsupra.com | Bethany Gregory
Obstacles for information sharingThe recent Economic Crime Transparency Act 2023 (2023 Act), along with accompanying guidance published in late 2024, encouraged the quicker and easier sharing of customer information between firms in the UK financial sector for the purposes of preventing, detecting and investigating economic crime concerns (see our blog post here for further details).
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Oct 14, 2024 | 
jdsupra.com | Bethany Gregory
Quicker and easier sharing of customer information relating to economic crime concerns between firms in the UK financial sector has been encouraged by provisions in the Economic Crime and Corporate Transparency Act 2023 (Act), which came into force on 15 January 2024. The UK Government published accompanying in October 2024. We explore the key features of the new information sharing gateways.
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Oct 10, 2024 | 
jdsupra.com | Bethany Gregory
Quicker and easier sharing of customer information relating to economic crime concerns between firms in the UK financial sector has been encouraged by provisions in the Economic Crime and Corporate Transparency Act 2023 (Act), which came into force on 15 January 2024. The UK Government published accompanying in October 2024. We explore the key features of the new information sharing gateways.
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Oct 10, 2024 | 
lexology.com | Bethany Gregory
Quicker and easier sharing of customer information relating to economic crime concerns between firms in the UK financial sector has been encouraged by provisions in the Economic Crime and Corporate Transparency Act 2023 (Act), which came into force on 15 January 2024. The UK Government published accompanying in October 2024. We explore the key features of the new information sharing gateways.
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Jan 18, 2024 | 
jdsupra.com | Ying-Peng Chin |Andrew Denny |Bethany Gregory
Last year, we wrote about ClientEarth’s application to the High Court of England and Wales for permission to bring a judicial review claim, alleging that the UK Financial Conduct Authority (FCA) unlawfully approved the IPO prospectus of an energy company. Following the High Court’s dismissal of the application, a renewal hearing was held on 13 December 2023, where the judge again refused permission to bring the judicial review claim.
Please see full publication below for more information.
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Oct 27, 2023 | 
jdsupra.com | Amy Edwards |Bethany Gregory
As part of the Economic Crime and Corporate Transparency Act 2023, there are two new 'pay-away' exceptions to the need for a firm in the regulated sector to file a Defence against Money LaunderingPreviously a firm in the regulated sector1 faced an onerous burden when exiting a customer relationship where the account was suspected to contain criminal property. The firm had to seek a ‘defence against money laundering’ (DAML) from the UK National Crime Agency (NCA) before paying the property away.
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Sep 21, 2023 | 
jdsupra.com | Jonathan Benson |Bethany Gregory |Veronika Havlová
The UK Financial Conduct Authority (FCA) has assessed the systems and controls relating to sanctions compliance for over 90 firms across a range of sectors and summarised its findings of good and poor practice. Acknowledging the size, scale and complexity of sanctions imposed since Russia’s invasion of Ukraine, the FCA continues to increase its focus on firms’ sanctions systems and controls and hopes that its findings will help firms to deliver greater compliance with sanctions.
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Sep 13, 2023 | 
jdsupra.com | Bethany Gregory
Quicker and easier sharing of customer information relating to economic crime concerns between firms in the UK financial sector is being encouraged by provisions in the Economic Crime and Corporate Transparency Bill which is the final stages of its Parliamentary progress. We explore the key features of these new information sharing gateways. Current hurdles for firms wanting to share informationFirms are currently unable to quickly share information with each other about economic crime concerns.
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Feb 24, 2023 | 
jdsupra.com | Andrew Denny |Bethany Gregory |Ying-Peng Chin
ClientEarth (an environmental charity) is challenging a decision by the UK Financial Conduct Authority (the FCA) to approve a prospectus of an energy company on the basis that it contains inadequate climate-related disclosures.
