UNEXPLAINED WEALTH ORDERS AND TRUSTEES

On 8 June, an article from Charles Russell Speechlys says that trustees or fiduciaries may be at risk of becoming involved or even subject to UWO, if it is suspected that assets which may have been acquired with criminal funds have been invested into structures of which they are trustees.  It notes that the UK Government has also recently introduced new reforms to the UWO regime, which are intended to give enforcement agencies more scope to obtain, enforce, and monitor UWO.  The article considers the implications of the UWO regime for trustees and fiduciaries, looking at the most recent cases where such orders have been made.  It also reviews the recent amendments to the legislation governing UWO introduced in May and explains how those changes have broadened the UWO regime and its possible application to trustees and fiduciaries alike.

https://www.charlesrussellspeechlys.com/en/news-and-insights/insights/private-wealth/2022/unexplained-wealth-orders-trustees/

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

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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