UK gambling crackdown signals AML enforcement drive

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The growing trend of money mules

In November 2017, CIFAS, the UK’s fraud prevention service released statistics showing a 75% rise in the number of 18 to 24 year old’s who are letting their bank accounts be used to transfer the proceeds of crime. CIFAS, along with UK Finance ran a ‘Don’t Be Fooled’ campaign which aims to deter young people […]

FCA asks CEOs to ensure Prudential returns are compliant

Andrew Bailey, CEO of the FCA, has this week written to IFPRU and BIPRU investment firms requesting them to review their prudential reporting practices. This was as a result of the FCA discovering that large numbers of firms are submitting inaccurate and incomplete returns. So, if you are the CFO, expect questions from your CEO, […]

What the William Hill fine means for you

Today’s news that the William Hill will face penalties of at least £6.2m following settlement with the Gambling Commission will have sent shock waves across the industry. This is the second largest financial penalty levied by the Commission, and the highest in relation to financial crime concerns. Other gaming firms should take note…

MiFID II update for Asian firms

In a number of presentations across Singapore and Hong Kong, we attempted to look back, take stock and process the last five years of markets reform in the EU…

Gambling Commission: The roulette spin cycle

The Gambling Commission has conducted a ‘thematic review’ which has reportedly revealed shortcomings in anti­money laundering controls. Early this year, the Gambling Commission wrote to 195 UK­-based remote casino operators with summary findings… …In short, remote casinos are not doing enough to prevent or detect the mis­use of their services to launder criminal proceeds or fund terrorism…

Latest Briefings

Merger control: Guidance paper on new transaction value thresholds in Austria and Germany

In the second half of 2017 both Austria and Germany introduced transaction value based thresholds as alternatives to purely turnover based thresholds that trigger the obligation to obtain merger control approval. The Austrian test pursuant to section 9 (4) Austrian Cartel Act (“ACA”) requires, amongst others, the consideration for a transaction to exceed EUR 200 […]

Danube port legislation: building a bridge across various jurisdictions

The Danube is the longest river in Central Europe, and thus has significant economic potential. However, the full potential of the Danube as a major transport route has not yet been exploited. A reason for this is the fact that the Danube crosses ten countries, and there are, as a result, ten different applicable port […]

Social Housing Monthly Law Update – July 2018

By David Isaacson TLT’s monthly law update on all things affecting social housing Highlights this month include: The EU (Withdrawal) Bill receives Royal Assent Chair appointed to lead independent review into planning appeal inquiries Registered Social Landlords Bill gains Royal Assent Government announces it will fully fund unsafe cladding removal in social housing New powers […]

Industrial strategy: government proposals to use IP to stimulate innovation

By Jo Pritchard The government has recently published the outcome of its consultation on maximising the incentives of the IP (intellectual property) system to stimulate collaborative innovation and licensing opportunities. The call for views was one of a number of initiatives on IP announced by the government as part of its Industrial Strategy in November 2017.   Views […]

Express duty of good faith: rescuing drafting deficiencies

By Susan Honeyands The High Court has recently held that an obligation to act in good faith was breached when a company managing referrals to physiotherapy clinics used the other party’s information to set up a rival business. The case is interesting because the express good faith clause rescued other drafting deficiencies, in particular, the […]

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Walder Wyss tops M&A ranking

Walder Wyss AG tops the ranking by number of M&A Deals in 2017 among Swiss law firms, according to the final full-year league tables released by MergerMarket. We successfully handled 49 reportable M&A transactions, and a significant number of additional transactions could not have been reported for confidentiality reasons. Walder Wyss ranked 9 (out of […]

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High Court grants £1m costs extension in Lloyds/HBoS case

The High Court has granted Lloyds permission to increase its costs budget by more than £1m in its headline dispute with shareholders, owing to “significant developments in the case”.

Lloyds asked to increase its budget by £1.2m to account for the 12-day delay at the start of the trial, which was due to begin on 2 October but instead began on 19 October after  Mr Justice Nugee and other members of counsel sustained significant injuries.

 

Khaitan & Co advises Hindustan Media on restructuring

Khaitan & Co advised Hindustan Media Ventures Limited in relation to the scheme of arrangement in relation to proposed demerger of Business to Consumers segment (higher education courses to retail consumers) of India Education Services Private Limited into Hindustan Media Ventures Limited, under section 230 -232 of the Companies Act 2013; and reduction of share […]

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