In the wake of ambitious proposals to improve the EU’s anti-money laundering controls, Partner Anna Bradshaw is interviewed by the Financial Times on the potential ramifications of Brexit for the fight against money laundering in the EU and in the UK. Read more
The shift to remote working necessitated by the Covid-19 lockdown and restrictions imposed by the government, represents an unprecedented challenge to the financial services industry. While regulators were quick to act at the outset of the pandemic, taking immediate steps to stabilise the industry and protect customers, targeted measures to offset the novel risks posed […]
In the midst of the COVID-19 pandemic, many states have turned to facial recognition technology as a way to combat the spread of the virus by tracking quarantine evaders or gauging elevated temperatures of potentially infected individuals in crowds. However, without proper regulation, we have started to witness the often undetected spread of this technology, […]
Former billionaire Vijay Mallya is a step closer to being extradited to India to face impending fraud charges, after two judges ruled that the case raised no public interest issues, and therefore ruled out an appeal to the Supreme Court. “Extradition must take place within 28 days of the decision of the Supreme Court refusing […]
Dystopian visions of spies — technological or human — betraying a cowed population to authoritarian regimes are rife in literature. We have not quite reached the level of surveillance depicted in Margaret Atwood’s The Handmaid’s Tale — but this could be how it starts: a global catastrophe, followed by enhanced governmental control. The latest controversy relates to […]
The second RUSI paper on ‘Coordinating Sanctions after Brexit’, draws on the work conducted by the RUSI Sanctions Taskforce, supported and funded by Peters & Peters. It analyses the merits and challenges of the UK coordinating new sanctions initiatives with international partners, and also the extent to which the UK could pursue its own sanctions […]
On 9 December 2019, the SMCR was extended to authorised firms regulated solely by the FCA, replacing the former Approved Persons Regime. The SMCR is intended to protect consumers by strengthening market integrity through an enhanced governance, individual responsibility and accountability framework, comprising conduct rules and overlapping Senior Managers’ and Certified Persons’ regimes. Read more
A financial services adviser recently found himself on the receiving end of one of the UK’s newest tools in its fight against money laundering : unexplained wealth orders (UWOs). These orders have the power to compel an individual – either a politically exposed person (PEP) or a person who is suspected of involvement in, or […]
Between 2005 and 2007, the Claimants (most of whom are former professional footballers) invested in tax-leveraged film schemes promoted by the “Scion” corporate entities, on the advice of Formation Asset Management Limited. At that time, Formation was the appointed representative of Carpenter Rees Limited. The schemes resulted in very serious losses for the Claimants who […]
We act for a UK-based company director in relation to an ongoing criminal investigation by the Metropolitan Police into an international Ponzi-type investment fraud. It is alleged that another director of the relevant group of companies defrauded investors across Europe and Asia in respect of an investment into sustainable residential development in South America. Following […]
