Failure to Prevent Fraud – Being a Friend of Business – Guildhall Chambers

Posted November 15th, 2023 in chambers articles, company law, fraud, money laundering, news, Russia, Ukraine by sally

‘The Economic Crime and Corporate Transparency Bill received Royal Assent on 26 October 2023. An initial Economic Crime (Transparency and Enforcement) Act 2022 was passed at speed in the wake of the invasion of Ukraine to deter Russian oligarchs from laundering money in the London property market. This 2023 Act follows on as part of a welcome Parliamentary focus on how economic crime can impact the international reputation and stability of the UK as well as its cost to the Exchequer.’

Full Story

Guildhall Chambers, 31st October 2023

Source: www.guildhallchambers.co.uk

Kate Ollerenshaw: Impact Assessment as an Accountability Mechanism: Past, Present and Future – UK Constitutional Law Association

Posted November 9th, 2023 in brexit, company law, constitutional law, EC law, government departments, news by sally

‘On 19th September, the Government published a revised version of the Better Regulation Framework Manual setting out its new approach to impact assessment for regulatory measures. The system it will replace was aligned with the Government’s formal mechanisms to incentivise a reduction in the burden of regulation on business and civil society, but the repeal of the statutory Business Impact Target (BIT) by s. 18 of the Retained EU Law (Revocation and Reform) Act 2023 and the Government’s commitment to ‘Smarter Regulation to Grow the Economy’ in the post-Brexit world prompted revisions. At first sight the proposals, including the creation of a new ‘options assessment’, seem to address some criticisms of the previous system. As always though, ‘the devil is in the detail’ and ‘the proof of the pudding will be in its eating’. This post looks at the proposed changes in the light of past practice to highlight areas where the effectiveness of impact assessment as an accountability mechanism might remain compromised. For reasons of space, this post focuses on impact assessment as a prospective tool rather than its role in post-implementation review.’

Full Story

UK Constitutional Law Association, 9th November 2023

Source: ukconstitutionallaw.org

New Act – legislation.gov.uk

Posted October 30th, 2023 in company directors, company law, corruption, fraud, legislation, money laundering by tracey

2023 c. 56 – Economic Crime and Corporate Transparency Act 2023

Robust new laws to fight corruption, money laundering and fraud – Home Office

‘The Economic Crime and Corporate Transparency Act received Royal Assent on Thursday 26 October.’

Full Story

Home Office, 26th October 2023

Source: www.gov.uk

Economic Crime and Corporate Transparency Act completes its passage through parliament – Law Society’s Gazette

Posted October 27th, 2023 in company law, fraud, news by sally

‘Expert legal commentators appear to be divided over the impact of the Economic Crime and Corporate Transparency Act, which received royal assent today. The House of Lords nodded through the measure, after months of parliamentary back-and-forth, hours after the government rejected amendments which their backers said would close gaping loopholes.’

Full Story

Law Society's Gazette, 26th October 2023

Source: www.lawgazette.co.uk

ESG for Employers – Kingsley Napley

“Environmental, Social & Governance (ESG) matters are growing in importance for all organisations. Aside from the moral reasons putting these issues high on the agenda, an organisation’s ESG standing/rating can have a huge impact on its performance, as well as its ability to attract and retain talent, investors, customers and clients. ESG matters can also have potential legal and regulatory consequences.”

Full Story

Kingsley Napley, 5th October 2023

Source: www.kingsleynapley.co.uk

Emphasis on sanctions compliance legal advice record-keeping under new licence – OUT-LAW.com

‘The UK government has granted a general licence to enable UK lawyers to provide legal advice to non-UK individuals and businesses in relation to their compliance with international sanctions on Russia, without breaching UK sanctions regulations themselves.’

Full Story

OUT-LAW.com, 22nd August 2023

Source: www.pinsentmasons.com

The UK Bribery Act 2010: principles, offences and penalties – OUT-LAW.com

Posted August 21st, 2023 in bribery, company law, news by tracey

‘The Bribery Act 2010 (the Act) came into force in April 2011, overhauling UK anti-bribery legislation.’

Full Story

OUT-LAW.com, 18th August 2023

Source: www.pinsentmasons.com

A practical guide to unfair prejudice petitions – St John’s Chambers

‘This guide provides an overview of the principles relating to unfair prejudice petitions. It is not legal advice and should not be relied upon as such. Businesses and individuals should seek bespoke legal advice in respect of their particular positions. This guide is an updated version of a similar guide published in 2019.’

Full Story

St John's Chambers, 3rd July 2023

Source: www.stjohnschambers.co.uk

Court rules that genuine attempt to restructure did not put assets beyond reach of creditors – OUT-LAW.com

Posted June 21st, 2023 in company law, fraud, insolvency, news, winding up by tracey

‘A recent ruling of the English High Court found that a genuine attempt to restructure a company did not amount to an ‘informal winding-up’ in contradiction of insolvency laws on the distribution of assets to creditors.’

Full Story

OUT-LAW.com, 20th June 2023

Source: www.pinsentmasons.com

Law Commission invited to review legislation on co-operatives and friendly societies – Law Commission

Posted June 21st, 2023 in company law, Law Commission, news by tracey

‘The Law Commission has today been invited by the Treasury to undertake two projects to review the legal frameworks governing co-operatives and community benefit societies, and friendly societies.’

Full Story

Law Commission, 16th June 2023

Source: www.lawcom.gov.uk

UK watchdog plans to shake up stock listing rules – BBC News

‘The UK’s financial watchdog has announced plans to shake up its rules in a bid to attract more companies to list shares on UK stock markets.’

Full Story

BBC News, 3rd May 2023

Source: www.bbc.co.uk

New regulations published regarding UK’s Register of Overseas Entities – Local Government Lawyer

Posted April 21st, 2023 in company directors, company law, disclosure, local government, news by tracey

‘New regulations have been published that extend the ability of Companies House to disclose information contained on the UK’s Register of Overseas Entities (ROE) to certain government or independent enforcement agencies, writes Sophie Alexander.’

Full Story

Local Government Lawyer, 21st April 2023

Source: www.localgovernmentlawyer.co.uk

‘Failure to prevent’ fraud offence to apply in UK to large organisations – OUT-LAW.com

Posted April 14th, 2023 in bills, chambers articles, company law, crime prevention, fraud, news, statutory duty by tracey

‘A new criminal offence of failing to prevent fraud is to be added to UK law and applied to large businesses and other large organisations.’

Full Story

OUT-LAW.com, 12th April 2023

Source: www.pinsentmasons.com

Unfair prejudice claim in a long-standing rags to riches family dispute has failed (Pickering v Hughes and ors) – Gatehouse Chambers

‘Dispute Resolution analysis: Following a liability trial, an unfair prejudice petition under section 994 of the Companies Act 2006 has been dismissed. None of the alleged instances of unfair prejudice directed against the Respondents was made out.’

Full Story

Gatehouse Chambers, 23rd March 2023

Source: gatehouselaw.co.uk

Watchdog to block shareholder payouts if UK water companies miss targets – The Guardian

‘The UK water regulator is to use new powers to block companies from shareholder payouts if they fail to hit performance and environmental targets.’

Full Story

The Guardian, 20th March 2023

Source: www.theguardian.com

Allegations of sexual misconduct in the workplace: innocent until proven ‘guilty’? – Kingsley Napley Employment Law Blog

‘This week Tony Danker stepped down from his role as director general of the Confederation of British Industry (CBI) while an independent investigation into allegations of sexual misconduct takes place.’

Full Story

Kingsley Napley Employment Law Blog, 13th March 2023

Source: www.kingsleynapley.co.uk

Case Preview: Lifestyle Equities C.V. and Anor v Ahmed and Anor – UKSC Blog

‘In this post, Mark Chapman and Alisha Young (both associates within the Insurance Group at CMS) preview the decision awaited from the Supreme Court in Lifestyle Equities C.V. and Anor v Ahmed and Anor. The appeal was heard by the Supreme Court on 20 & 21 February 2023 and judgment is presently awaited.’

Full Story

UKSC Blog, 8th March 2023

Source: ukscblog.com

Case Preview: R (on the application of Palmer) v Northern Derbyshire Magistrates Court and Anor – UKSC Blog

‘In this post, Ingrida Jakuseva, a paralegal within the Litigation and Arbitration department at CMS, previews the decision awaited from the Supreme Court in R (on the application of Palmer) v Northern Derbyshire Magistrates Court and Anor. The application for permission to appeal will be heard by the Supreme Court on 8 March 2023.’

Full Story

UKSC Blog, 1st March 2023

Source: ukscblog.com

English law can accommodate blockchain share-dealing – Law Society’s Gazette

Posted February 24th, 2023 in company law, cryptocurrencies, news, shareholders by sally

‘Requirements under the Companies Act are not necessarily a barrier to company shares being held and traded on a blockchain of encrypted digital code, according to a government-backed panel of experts. In its latest statement of the law relating to innovations in the crypto economy, the UK Jurisdiction Taskforce concludes that English law is well equipped to deal with digital securities such as bonds and shares.’

Full Story

Law Society's Gazette, 22nd February 2023

Source: www.lawgazette.co.uk