Training & Knowledge: March 2017

31st Mar 2017Training & Knowledge

The Draft 2017 Money Laundering Regulations

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. […]

29th Mar 2017Newsletters

FCA v. Macris: Who is identified in FCA investigation notices?

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 […]

28th Mar 2017Newsletters

The Cyber Threat to UK Business

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 […]

28th Mar 2017Newsletters

Deferred Prosecution Agreements – A Review

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 […]

28th Mar 2017Newsletters

Costs in Private Prosecutions

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 […]