QUARTERLY FINANCIAL CRIME HORIZON SCANNING

On 23rd October, Eversheds Sutherland published the latest edition of its booklet which summarises key financial crime related legal and regulatory changes expected over the next 18 months to 2 years, as well as providing electronic links to key resources.

https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/Fraud_and_financial_crime/horizon-scanning

The comprehensive subject matter includes –

  • FCA is proposing to add a chapter on insider dealing and market manipulation to the Financial Crime Guide and also make a number of general changes as a result of recent regulatory changes to ensure the guide remains up to date;
  • The Home Office is committed to publish an asset recovery action plan in response to a Public Accounts Committee. The asset recovery plan will set out how the UK is responding to the challenges involved in improving the recovery of the proceeds of crime;
  • Criminal Fraud (Private Prosecutions) Bill 2017-19. A Private members’ Bill, it makes provision about private prosecutions in cases of suspected criminal fraud in certain circumstances; and for connected purposes.  The Commons 2nd Reading scheduled for 26th October;
  • The Law Commission consultation on AML closed on 5th October;
  • The Law Commission public consultation on reforming the law of search warrants closed in September and the response from the Law Commission is awaited; and
  • The consultation on the draft Registration of Overseas Entities Bill, which sets out provisions to establish a new beneficial ownership register of overseas entities that own UK property to be maintained by Companies House, closed on 17th

https://www.eversheds-sutherland.com/documents/services/litigation/Horizon-Scanning.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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