In the past few months, the media have shone the spotlight on the issue of banking politically exposed persons (PEPs), in addition to the UK introducing tighter regulation to address the issue of PEP bank account closures and reviewing financial institutions’ compliance with existing rules. In this article for eprivateclient, Diana Czugler discusses who is […]
In this LexisNexis Corporate Crime webinar, Diana Czugler and Charlotte Evans discuss a range of topics, including: – Criminal offences – Reporting and other regulatory compliance obligations under UK’s main framework that is the Proceeds of Crime Act 2002 – Money Laundering, Transfer of Funds and Terrorist Financing Regulations 2017 as a mandate – Brief […]
The Supreme Court has today given judgment in The Republic of Mozambique (acting through its Attorney General) (Appellant) v Privinvest Shipbuilding SAL (Holding) and Others (Respondents) [2023] UKSC 32. In a judgment given by Lord Hodge, Deputy President of the Supreme Court, with whom Lord Lloyd-Jones, Lord Hamblen, Lord Leggatt and Lord Richards agree, the […]
In February 2022, the Supreme Court unanimously held in the landmark judgment in ZXC v Bloomberg [2022] UKSC 5 that an individual under criminal investigation “has, prior to being charged, a reasonable expectation of privacy in respect of information relating to that investigation”.1 The court acknowledged the longstanding and repeated “concerns as to the negative […]
He may have served his time, but in an attempt to clear his name, former rates trader Tom Hayes, announced last month that his conviction for manipulating the Libor benchmark rate was being referred to the UK’s Criminal Cases Review Commission. All those accused of Libor rigging in the US, including Hayes, have been acquitted […]
Earlier this week, the Financial Conduct Authority (FCA) set out the issues it will consider as part of a review of how financial services firms treat politically exposed persons (PEPs). The review, which is to report by the end of June 2024, will look at the arrangements that firms have in place with PEPS based […]
Last month, judgment was given in Eugene Shvidler v Secretary of State for Foreign, Commonwealth and Development Affairs, the first case to come before the English courts challenging the designation of a person under the Sanctions and Anti-Money Laundering Act 2018. In this article for LexisNexis Corporate Crime expert, Kerri McGuigan and Liam Lane (who […]
From its origins as a pastime for working class Britain in the 19th century, football is now more popular than ever, especially so after the unprecedented success of the 2023 FIFA Women’s World Cup. However, this rise in fame and popularity has also meant increased scrutiny of the sport and, more recently, the future of […]
Last month, the High Court concluded that to enforce an arbitral award obtained by a major crypto exchange would be contrary to public policy under section 103(3) of the Arbitration Act 1996. This unusual invocation of the public policy exception arises as part of a recent line of cases in which crypto traders have generally […]
According to Reuters, British police is investigating Myanmar’s former ambassador to the UK for trespassing on a diplomatic residence in London, which he has refused to leave since being ousted for opposing the 2021 military coup in Myanmar. Reuters reports that Kyaw Zwar Minn was locked out of his embassy a few months after the […]
