24 Feb, 2022 UWOs: Remember those? By Max Hobbs Joe Gaffney A House of Commons briefing paper, published on 22 February 2022, has criticised the use of Unexplained Wealth Orders (UWOs). The paper...
10 Feb, 2022 The Economic Crime Bill: reform is coming By Max Hobbs Joe Gaffney We recently commented on a fortnight of fast-paced developments in the economic crime space. As we observed, it appears that (despite...
08 Feb, 2022 New register of home ownership? Sadiq Khan calls for a register of foreign-owned UK property to aid Russia sanctions By Lorna Emson Max Hobbs Francis Bond Sadiq Khan, the Mayor of London, has issued a call for a new register of foreign-owned properties in the UK, citing the fact that the...
18 May, 2021 The first buds of spring: new cannabis company float shows take up of FCA listing rules By Max Hobbs Those who work in the nascent legal cannabis industry in the UK, including investors and advisors, will be interested to note that a new...
12 May, 2021 Not so wise: the FCA imposes a new fine for anti-money laundering failings By Lorna Emson Max Hobbs The Financial Conduct Authority (FCA) has imposed a £178,000 fine (reduced from £236,740 to avoid serious financial hardship) on Sapien...
10 Dec, 2020 United States to pass historic anti-money laundering legislation, including first register of corporate beneficial ownership By Francis Bond The United States Congress is expected to pass the country’s most significant anti-money laundering legislation in decades this week,...
23 Jul, 2020 UK to invest £100m in stronger AML checks through tax on banks By Francis Bond The UK is set to go ahead with a £100m investment in improving anti-money laundering systems, funded by a “levy” on financial...
03 Jul, 2020 Incoming President of global money laundering body sets out priorities for new term By Helen Harvey Dr Marcus Pleyer of Germany assumed the Presidency of the Financial Action Task Force (FATF) on 1 July 2020, succeeding Xiangmin Liu of...
24 Jun, 2020 The Council of the EU calls for greater financial crime powers By Francis Bond The Council of the European Union (the Council) has called for a series of cross-continent actions designed to tackle financial crime....
15 Jun, 2020 Under the spotlight: EU action against money laundering in the banking sector By Helen Harvey In the wake of a number of high-profile money laundering (ML) scandals in the banking sector, the European Court of Auditors (ECA) has...
14 May, 2020 No weak links: EU Commission publishes action plan for unified money laundering fight By Helen Harvey The EU Commission has published an action plan aimed at ensuring the EU puts on a more unified front in the fight against money...
13 May, 2020 Sharing is caring: UK government issues guidance on sharing information within corporate groups for AML purposes By Max Hobbs The UK government published a statement on 12 May 2020 that provides guidance to international corporate groups on sharing information...