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Dec 2, 2024 | 
jdsupra.com | Claire Lipworth |Mark Orton |John Salmon
The FCA has published its expectations on registered or regulated firms partnering with unregistered cryptoasset firms, which may be illegally promoting to UK consumers. BackgroundUnder section 21 of the Financial Services and Markets Act 2000 (“FSMA”), a person must not, in the course of business, communicate an invitation or inducement to engage in investment activity—this is otherwise known as the financial promotions restriction.
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Jul 25, 2024 | 
jdsupra.com | Claire Lipworth |Liam Naidoo |Olga Tocewicz
On 27 June 2024, the Court of Appeal handed down judgment in World Uyghur Congress v National Crime Agency [2024] EWCA Civ 715.
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Jul 9, 2024 | 
jdsupra.com | Claire Lipworth |Daniela Vella
The FCA alleges that, between 19 May 2018 and 13 April 2021, Emmanuel Nwanze and Holly Thompson used an Instagram account to provide advice on buying and selling contracts for difference (CFDs) when they were not authorised to do so. CFDs are a high-risk investment product used to bet on the price of an asset, in this case the price of foreign currencies.
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Jul 8, 2024 | 
lexology.com | Daniela Vella |Claire Lipworth
The UK Financial Conduct Authority (FCA) has brought criminal charges against nine individuals in relation to an unauthorised foreign exchange trading scheme promoted on social media. The FCA alleges that, between 19 May 2018 and 13 April 2021, Emmanuel Nwanze and Holly Thompson used an Instagram account to provide advice on buying and selling contracts for difference (CFDs) when they were not authorised to do so.
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Jan 12, 2024 | 
jdsupra.com | Claire Lipworth |Daniela Vella
These exemptions will reduce the burden on firms within the regulated sector1 by expanding the situations in which they can deal with suspected criminal property without having to submit a Defence Against Money Laundering (DAML) to the National Crime Agency (NCA) - although in both instances the firm must still report its suspicions of money laundering to the NCA.
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Jan 11, 2024 | 
lexology.com | Daniela Vella |Claire Lipworth
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) introduces two new "pay away" exemptions to the principal money laundering offences in sections 327, 328 and 329 of the Proceeds of Crime Act 2002 (POCA).
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Dec 6, 2023 | 
jdsupra.com | Claire Lipworth |Liam Naidoo |Olga Tocewicz
December 6, 2023 Claire Lipworth, Liam Naidoo, Olga Tocewicz Hogan Lovells + Follow x Following x Following - Unfollow Contact To embed, copy and paste the code into your website or blog: It’s certainly true that the UK criminal authorities have been crying out for a shot in the arm in the form of legislative reform, but will changing the law really help the Serious Fraud Office ("SFO") achieve more corporate convictions? We look here at the reforms and what they mean for UK companies. This...
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Dec 6, 2023 | 
lexology.com | Olga Tocewicz |Liam Naidoo |Claire Lipworth
It’s certainly true that the UK criminal authorities have been crying out for a shot in the arm in the form of legislative reform, but will changing the law really help the Serious Fraud Office ("SFO") achieve more corporate convictions? We look here at the reforms and what they mean for UK companies. This is third in the series of our articles looking at the impact of the Economic Crime and Corporate Transparency Act.
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Nov 30, 2023 | 
jdsupra.com | Claire Lipworth |Liam Naidoo |Olga Tocewicz
It's fair to say that the UK has been a relatively benign environment for some time with respect to the enforcement of corporate crime. While there have been some very prominent settlements involving household names for bribery and fraud, the consensus is that criminal enforcement authorities have failed to crack down on serious fraud and corruption committed by corporates and their executives.
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Nov 29, 2023 | 
lexology.com | Olga Tocewicz |Liam Naidoo |Claire Lipworth
Companies operating in the UK – whether incorporated in the UK or simply carrying on a business in the UK are entering into a period of significant change in the way corporate crime is going to be investigated and prosecuted. It's fair to say that the UK has been a relatively benign environment for some time with respect to the enforcement of corporate crime.
