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 […]
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, […]
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…
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…
Guernsey’s recently published Financial Services Policy Framework sets out an approach to capitalise upon a range of global specialisms to ensure that Guernsey remains a strong, and stable financial centre servicing sophisticated clients from around the world. Financial services and the associated professional services that support them account for more than half of the jurisdiction’s […]
By Louise Power What do real estate businesses need to know? We have reported recently on the Competition and Markets Authority’s investigation into potential breaches of consumer protection law within the leasehold housing market. We have also published various earlier briefings  in which we have: flagged to housebuilders/developers and other businesses operating within the real estate industry, the […]
By Karl Anders, Deborah Brown Walker Morris’ Housing Management & Litigation specialists Karl Anders and Deborah Brown explain the UK Government’s call for evidence on potential tenancy deposit reform in the private rented sector. The Ministry of Housing, Communities and Local Government (MHCLG) has launched a call for evidence which seeks to inform the UK […]
Social and commercial context Reports of violence on the high street are on the rise. Unfortunately, even the briefest of internet research reveals a worrying number of incidences of violence in the UK. Within just the last year there have been: a stabbing in a supermarket; armed robberies at Barclays on Vauxhall Bridge Road, at […]
Ana Marta Castro and Raul Mota Cerveira, partners, contribute for the international publication Getting the Deal Through: Public Procurement, a comparative guide that analyses Public Procurement legislation on 34 jurisdictions from all over the world. The lawyers are responsible for the Angola, Cape Verde, Mozambique and Sao Tome and Principe chapters, where they explain relevant […]
The Solicitors Disciplinary Tribunal (SDT) has ruled that the Leigh Day lawyers acquitted of professional misconduct will not recover their legal costs.
The human rights firm applied to have 75 per cent of its total costs – thought to be £7.5m before the SDT hearing – covered by the prosecuting body, the Solicitors Regulation Authority (SRA), after the tribunal dismissed all of the allegations of misconduct against the firm’s co-founder Martyn Day and solicitors Sapna Milk and Anna Jennifer Crowther.
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Clyde & Co has suspended two lawyers from the firm ahead of an internal investigation into alleged breaches of the SRA’s accounts rules. The firm confirmed to The Lawyer that two unnamed lawyers have been referred to the Solicitors Regulatory Authority (SRA). Rule one of the SRA’s account rules, states the purpose of the rule is […]
Cooley has secured its second lateral hire in London this year, as it looks to build out new white-collar capabilities both in the UK and internationally. The firm has recruited partner Tom Epps from the defence and government investigations group of Boston-born law firm Brown Rudnick. Epps has spent over six years in Brown Rudnick’s […]
Former Comic Relief general counsel and company secretary Vincent Collins has stepped down from his role to join the Commonwealth War Graves Commission. Collins is to leave the charity after two years to become head of legal at the intergovernmental organisation. The Commonwealth War Graves Commission cares for the graves of the 1.7 million men […]