Peters & Peters

Record £17 million fine for cum-ex trading scam

0 Comments

The Financial Conduct Authority (FCA) has fined ED&F Man Capital Markets Ltd (MCM) over £17.2 million ‘for serious failings in its oversight of cum-ex trading’. The FCA said that these failings allowed the broker to collect fees for trading strategies designed to enable clients to reclaim tax illegitimately from the Danish authorities. According to the […]

Keith Oliver

Peters & Peters contributes chapter to CDR: Essential Intelligence – Fraud, Asset Tracing & Recovery 2023

0 Comments

Head of International Keith Oliver and Legal Researcher Caroline Timoney have recently been published in CDR: Essential Intelligence – Fraud, Asset Tracing & Recovery 2023. Their chapter, an overview of the latest in the regulatory landscape in England & Wales, provides expertise for practitioners and laypersons alike as it explores the current legal framework underpinning […]

Neil Swift Thinking

Government tables failure to prevent fraud offence amendment to ECCT Bill

0 Comments

Last week, the Home Office tabled an amendment to the Economic Crime and Corporate Transparency Bill, setting out a failure to prevent fraud offence. According to the Home Office, this new offence is meant to “make it easier to prosecute a large organisation if an employee commits fraud for the organisation’s benefit” and “allow prosecutors […]

Peters & Peters

Skatteforvaltningen saga: why it’s best to ditch the ‘kitchen sink’ approach to litigation

0 Comments

The Skatteforvaltningen (the Danish Customs and Tax Administration) (SKAT) litigation, by which the Danish tax authorities have been pursuing very extensive claims of alleged tax fraud, is one of the most significant currently before the English court. It has produced scores of judgments of varying usefulness to those engaged in more constrained proceedings. Notwithstanding the […]

Life during law: Nick Vamos

0 Comments

Head of Business Crime Nick Vamos was interviewed for Legal Business’ Life During Law column. Nick spoke about how he ended up following his mum’s and future wife’s advice to pursue a career as a barrister, how things progressed from there and why he does not believe in planning his career too much. After leaving […]

Paul Johnson

Key questions for IPs to ask funders

0 Comments

The monthly insolvency statistics for October 2022 (published by the Insolvency Service in November) show that corporate insolvencies have risen 38% from the same month in the previous year and are 32% higher than pre-pandemic. Insolvency practitioners, lawyers and advisers are therefore gearing up for further rises in insolvencies as the economic climate is expected […]

Peters & Peters

The Quincecare duty: 35 years on, the debate has only just begun

0 Comments

The Quincecare duty, which requires financial institutions not to execute customers’ orders if they have been made aware that these are part of a fraud, has gained prominence recently as upcoming legal challenges threaten to increase banks’ responsibilities in the context of increasingly sophisticated fraud. In this article for The Banker, Paul Johnson and David […]

Government confirms introduction of failure to prevent fraud offence

0 Comments

The government has confirmed its intention to bring forward  a failure to prevent fraud offence in the Economic Crime and Corporate Transparency Bill, when the latter is debated in the House of Lords. Neil Swift spoke to LexisPSL about the proposal, asking, among others, whether failure to prevent offences, and the underlying policy of making […]

Sarah Gabriel

Supreme Court hears appeal in Republic of Mozambique ‘Hidden Debts’ litigation

0 Comments

The Supreme Court will hear the appeal of Republic of Mozambique (acting through its Attorney General) (Appellant) v Privinvest Shipbuilding SAL (Holding) and Others (Respondents) (2021/0085) from 24 to 25 January 2023. The appeal arises out of ongoing litigation before the Commercial Court in which Peters & Peters has acted for the Republic of Mozambique […]

Fighting the fraud epidemic: ways to break the chain

0 Comments

At the start of the new year, an unfortunate and dispiriting reality is starting to dawn: 2022 was the UK’s ‘Year of Fraud’. From headlines of the UK government having lost £16 billion to Covid 19 fraud, to the shocking truth that only one in every 1,000 criminal complaints for fraud results in a conviction, […]