Designed to bring a more risk-based approach to the prevention of money laundering and terrorist financing, the European Union Fourth Anti-Money Laundering Directive is the most substantial change to AML and counter terrorist financing legislation in Europe in several years. The EU Fourth Directive was enacted on 25 June 2015, replacing the previous Third Directive. […]
On 22 March 2017, the Supreme Court handed down judgment in FCA v. Macris. The case turned on the meaning of the word “identifies” in section 393 of the FSMA. The Court favoured a restrictive definition. The effect is that notices will not need to be served on, and representations invited from, as many individuals […]
Cyber crime is a rapidly evolving threat to businesses’ financial and data security, as set out in the newly published NCSC and NCA 2016/17 annual report. In tackling this threat, the Government appears to be moving towards increased regulation in cyber security for UK businesses. There were 2 million computer misuse incidents in the year […]
It is now three years since the Crime and Courts Act 2013 introduced deferred prosecution agreements (‘DPAs’) to the UK. Although much ink has already been spilt on the topic, given the importance of the area it is worth taking stock of what we have learned to date. Standard Bank The first DPA concerned Standard […]
We have written previously about the growth area that is private prosecutions. Costs in such cases are a key issue. The successful party will inevitably seek to recover costs from central funds under ss.16 or 17 of the Prosecution of Offences Act 1985, or against the unsuccessful defendant under s.18, or under s.19 on the […]
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