Daniela Vella

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.

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.

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.

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).

Jan 3, 2024 | jdsupra.com | Daniela Vella

January 3, 2024 To embed, copy and paste the code into your website or blog: [co-author: Emma Ward] The UK Financial Conduct Authority (FCA) has reminded firms supporting and facilitating unregistered cryptoasset firms of their obligations under the Proceeds of Crime Act 2002 (POCA), specifically highlighting how they may be at risk of committing a money laundering offence by dealing with any benefits obtained by cryptoasset firms from illegal financial promotions. As of 8 October 2023, all...