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1 week ago | 
mondaq.com | Brian Spiro |Helen Harvey
M Macfarlanes LLP More We are a London-based law firm, built and shaped around the needs of our clients. Our blend of expertise, agility and culture means we have the flexibility to meet our clients’ most challenging demands and to champion innovation.
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Apr 24, 2024 | 
lexology.com | Brian Spiro |Susannah Cogman |Robert Hunt |Kate Meakin |Elizabeth Head |Jessica Chappatte | +1 more
The Serious Fraud Office (“SFO“) published its new five year strategy (2024-29) (the “Strategy“) on 18 April 2024, outlining its key objectives and focus areas. While the Strategy contains similar themes to the SFO’s previous 2022-25 strategy, such as a continued focus on technology, there is a greater emphasis on innovation and the prevention of crime.
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Mar 28, 2024 | 
mondaq.com | Susannah Cogman |Robert Hunt |Kate Meakin |Brian Spiro
The Economic Crime and Corporate Transparency Act
2023 (the ECCTA) received Royal Assent in
October 2023. As part of significant reform to the UK's
corporate criminal liability regime, among other reforms, the ECCTA
introduced a new offence of failure to prevent fraud (the
FTP Fraud Offence), which is expected to come into
force by 2025, once relevant government guidance has been
published.
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Jan 26, 2024 | 
mondaq.com | Susannah Cogman |Robert Hunt |Kate Meakin |Brian Spiro
In July 2021, the European Commission presented a package of legislative proposals designed to combat money
laundering, terrorist financing and the evasion of sanctions. These
proposals included the establishment of a new EU agency, the Anti
Money Laundering Authority (AMLA). On 13 December
2023, the EU Parliament and Council of the EU announced that they had reached a
"provisional agreement" on the AMLA's
creation.
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Jan 2, 2024 | 
mondaq.com | Susannah Cogman |Robert Hunt |Kate Meakin |Brian Spiro
We have recorded a special bonus episode of the Fraud Files
podcast which departs from our analysis of the failure to prevent
fraud and identification doctrine reform elements of the Economic
Crime Corporate Transparency Act 2023 (the "Act") and
provides an overview of the other changes introduced by this piece
of omnibus legislation.
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Nov 3, 2023 | 
mondaq.com | Susannah Cogman |robert hunt |Kate Meakin |Brian Spiro
After years of debate and calls from the Serious Fraud Office
('SFO') to change the law, and months of discussion in
Parliament, the Economic Crime and Corporate Transparency Act
2023 (the 'Act') received Royal Assent last Thursday,
26 October 2023, introducing (among other reforms) a new failure to
prevent ('FTP') fraud offence and an expansion of the basis
on which companies can be held criminally to account (the
'identification doctrine').
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Sep 24, 2023 | 
mondaq.com | Susannah Cogman |robert hunt |Kate Meakin |Brian Spiro
The Economic Crime and Corporate Transparency Bill (the
"Bill"), which is set to introduce,
among key reforms, a new failure to prevent fraud offence
("FTP Fraud"), is in the final stages of
the Parliamentary process. The Bill is expected to receive Royal
Assent by the end of this year. The Bill's next debate is
scheduled to be on 18 October 2023, when Parliament returns from
conference season.
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Jun 26, 2023 | 
mondaq.com | Susannah Cogman |robert hunt |Kate Meakin |Brian Spiro
Further Government amendments which have recently been made to
the Economic Crime and Corporate Transparency Bill (the
"Bill") would expand the scope of the
"identification doctrine" imposing corporate criminal
liability on companies for economic crime offences committed by
their "senior managers".
These measures build on the provisions in the Bill which would
create a new corporate offence of failure to prevent fraud as part
of the UK Government's wider strategy to tackle economic crime.
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Jun 22, 2023 | 
lexology.com | Susannah Cogman |Brian Spiro |robert hunt |Kate Meakin |Elizabeth Head
Further Government amendments which have recently been made to the Economic Crime and Corporate Transparency Bill (the "Bill") would expand the scope of the "identification doctrine" imposing corporate criminal liability on companies for economic crime offences committed by their "senior managers". These measures build on the provisions in the Bill which would create a new corporate offence of failure to prevent fraud as part of the UK Government's wider strategy to tackle economic crime.
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Jun 6, 2023 | 
mondaq.com | Susannah Cogman |Brian Spiro |Kate Meakin |robert hunt
1. Introduction
The new failure to prevent fraud offence was introduced into the
Economic Crime and Corporate Transparency Bill
(the "Bill") during its progress through the House of
Lords.
