-
Nov 29, 2024 | 
lawinsport.com | Jeremy Summers
Friday, 29 November 2024 Author: Jeremy Summers The UK’s Economic Crime and Corporate Transparency Act (ECCTA) 2023 contains a new ‘failure to prevent fraud’ offence, which comes into effect on 1 September 2025. The new offence is part of wider reform of corporate criminal enforcement in the UK[1] being ushered in under ECCTA (also including the senior manager regime[2]) which ultimately aims to make it easier to prosecute commercial organisations for fraud, bribery money laundering.
-
Sep 25, 2024 | 
lexology.com | Jeremy Summers |Chris Wrigley
Parliamentary update on failure to prevent fraud guidance | High Court rules that England is appropriate forum in cross-border conspiracy claim | FCA emphasises collaboration and a collective effort to address fraud Parliamentary update on failure to prevent fraud guidance On 12 September 2024, Lord Hanson, minister of state for the Home Office, provided an on the publication of the guidance that must be issued by the government before the new failure to prevent fraud offence under the...
-
Aug 27, 2024 | 
lexology.com | Jack Prytherch |Ian Hyde |Jeremy Summers |Chris Wrigley
Corporates face increasing risk of criminal prosecution for tax evasion under a new fraud offence and Labour governmentThe new "failure to prevent fraud" offence, as set out in the Economic Crime and Corporate Transparency Act 2023, is finally expected to come into force in the first half of 2025, once the government has published the guidance prescribed by the legislation – this will be followed by an implementation period of at least six months.
-
Jul 26, 2024 | 
mondaq.com | Jeremy Summers |Chris Wrigley
Summer call to action
A reminder that anti-money laundering compliance is an ongoing
process, and it is important to stay vigilant of the evolving
approaches of regulators. The current trends in AML compliance are
discussed in our Insight for financial services firms. Firms
should also take note of our Insight on a recent Court of Appeal judgment
involving money laundering in international supply chains.
-
Jul 25, 2024 | 
lexology.com | Jeremy Summers |Chris Wrigley
Summer call to actionA reminder that anti-money laundering compliance is an ongoing process, and it is important to stay vigilant of the evolving approaches of regulators. The current trends in AML compliance are discussed in our Insight for financial services firms. Firms should also take note of our Insight on a recent Court of Appeal judgment involving money laundering in international supply chains.
-
Jul 22, 2024 | 
mondaq.com | Joachim Piotrowski |Simon P. Neill |Jeremy Summers
Football and its fans will be hoping that a governance
bill paves the way for a more equitable field for all
The July 2024 King's Speech has provided football
fans with a preview of long-awaited reforms to English professional
football.
The Labour government has outlined its plans for a new Football
Governance Bill, which aims to create a more sustainable future for
English football by curbing excessive risk-taking and ensuring that
fans have a greater say in how their clubs are run.
-
Jul 12, 2024 | 
lexology.com | Nick Price |Chris Wrigley |Jeremy Summers |Lisa Oakley
Clarification overturns status quo and affects firms' approach to compliance and supply-chain due diligenceTackling financial crime and anti-money laundering (AML) continues to be high on the list of priorities for the government and the regulatory oversight bodies. Over the past year, there has been a significant volume of guidance, consultations and supervision activity as AML remains an area of focus (see our Insight in relation to the financial service sector).
-
Jul 1, 2024 | 
mondaq.com | Joachim Piotrowski |Simon P. Neill |Jeremy Summers
A successful challenge could pave the way for lucrative
sponsorship deals particularly for clubs with wealthy
owners
In recent weeks, Manchester City has initiated a legal challenge
against the Premier League's Associated Party Transaction (APT)
rules, with arbitration proceedings expected to last two weeks. Manchester City alleges that the APT rules are unfairly
discriminatory, anti-competitive and represent a "tyranny
of the majority".
-
Jun 27, 2024 | 
mondaq.com | Jeremy Summers |Chris Wrigley
General election 2024: bribery, fraud, anti-money
laundering aspects | Failure to prevent fraud offence
As the UK approaches its general election, the two main
contenders to form the next government, the Conservative and Labour parties have unveiled their
manifestos.
The Conservative Party manifesto states that it intends to
strengthen its work on combatting money laundering and illicit
financial flows.
-
Jun 26, 2024 | 
lexology.com | Joachim Piotrowski |Simon P. Neill |Jeremy Summers
A successful challenge could pave the way for lucrative sponsorship deals particularly for clubs with wealthy ownersIn recent weeks, Manchester City has initiated a legal challenge against the Premier League's Associated Party Transaction (APT) rules, with arbitration proceedings expected to last two weeks. Manchester City alleges that the APT rules are unfairly discriminatory, anti-competitive and represent a "tyranny of the majority". The arbitration commenced on 21 June and occurred in private.
