Tag Archives: UK
UK GOVERNMENT PUBLISHES RESPONSE ON THE LEGAL FRAMEWORK FOR SANCTIONS POST-BREXIT
On 2 August 2017, the UK Government published its response to the public consultation on the UK’s future legal framework for imposing and implementing sanctions after the UK’s exit from the European Union (see our previous blog post). The response … Continue reading
Filed under Europe, Sanctions and Money Laundering, UK
FCA publishes proposals to extend the Senior Managers and Certification Regime
The FCA has published proposals to replace the Approved Persons Regime with the Senior Managers and Certification Regime (SMCR) currently in force for banks. Almost all financial services firms will be required to comply with the SMCR. There is a … Continue reading
Filed under Asset management, Banking, Funds, Investment banking, Investment Funds, UK
Corporate Crime Monthly Update – June 2017
Welcome to the June 2017 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions.
Criminal Finances Bill receives royal assent
The Criminal Finances Bill 2016-17 received royal assent on Thursday 27 April. The Criminal Finances Act 2017 (the Act), which has not yet come into force in its entirety, will introduce two new corporate offences of "failure to prevent facilitation … Continue reading
Filed under Corporate Crime, Sanctions and Money Laundering, UK
Recent developments in Scottish and English bribery enforcement
On 5 April 2016, The Scottish Crown Office and Procurator Fiscal Service ("COPFS") announced the latest resolution of a Bribery Act enforcement action against the Glasgow-based logistics company, Braid Logistics (UK) Limited. Braid agreed to pay £2.2 million pursuant to … Continue reading
Filed under Bribery and Corruption, Corporate Crime, UK, Uncategorized
Divisional Court rules that SFO procedure for isolating privileged material is lawful
The handling of material which is potentially subject to legal professional privilege is an important and often contentious matter in the investigations context. In a recent decision which addresses the practical aspects of evidence handling, the Divisional Court dismissed a … Continue reading
Filed under Bribery and Corruption, Corporate Crime, Investigations, UK
Problems with unit-linked products
Unit-linked insurance products have recently given rise to a number of regulatory issues. These cover: mis-selling; the responsibility of the insurer on the one hand and the intermediary on the other; the impact of Solvency II on the calculation of technical … Continue reading
Filed under Europe, European Regulation, FCA, PRA, Retail Banks, Uncategorized
Ombudsman determinations, fraud and nemesis
Ombudsmen within the Financial Ombudsman Service (FOS) make decisions on complaints by customers of financial firms. An example of such a decision is an award of compensation for mis-selling of payment protection insurance. An ombudsman’s decision becomes final and binding … Continue reading
Filed under Insurance, UK Regulations, Uncategorized
Insurance Regulation in 2015
So many developments are in the pipeline that we expect 2015 to be a landmark year for the insurance sector. In this briefing, we consider how regulation may develop over the year. We start by considering the prudential side and … Continue reading
