GT London Law Blog

GT London Law Blog

Legal Advisers for a Changing World

Tag Archives: Greenberg Traurig

Top 5 Predictions for UK White Collar Defence in 2019

Posted in Brexit, criminal law, Government, International Law, White collar
What does 2019 have in store for white-collar defence in the UK? In this GT Alert, we list our top 5 predictions relating to Serious Fraud Office (SFO) Director Lisa Osofsky, who indicated various areas of focus for her tenure; Brexit and the potential loss of the European Arrest Warrant regime and the U.K.’s access to EU… Continue Reading

The Financial Conduct Authority – Part 1 – Market Manipulation

Posted in criminal law, FCA, Financial Conduct Authority, spoofing, White collar
The term ‘market manipulation’ is a broad one which can mean a number of things. In this GT Advisory, we consider how market manipulation is approached in the U.K. in both a civil and criminal context, and how it has been enforced by the U.K.’s Financial Conduct Authority (FCA). We also discuss spoofing, a tactic… Continue Reading

Failure to Prevent Tax Evasion: Forgotten, but Not Gone

Posted in criminal law, Tax, tax evasion, White collar
The new offences introduced by the Criminal Finances Act 2017 (the Act), although widely publicised in the months leading up to its commencement, have received little attention since from commentators and, seemingly, the enforcement authorities. The two new offences govern U.K. and non-U.K. tax and are targeted at criminalising a corporate entity or partnership’s (broadly,… Continue Reading

Prove It or Lose It! Part III: A Step Too Far? Account Freezing Orders & Account Forfeiture Orders

Posted in criminal law, White collar
Part III of our series on asset recovery powers available to UK law enforcement authorities focuses on new powers under the Criminal Finances Act 2017 to obtain orders to freeze bank accounts and apply for forfeiture orders, permanently depriving the account holder of the funds contained in the account. These draconian new powers have received little publicity… Continue Reading

Brexit – Where Now?

Posted in Brexit, Government, International Law, International Trade
At their summit on 25 November, the leaders of the EU27 states approved the draft agreement providing for the U.K.’s withdrawal from the EU. The EU and U.K. also issued a joint statement outlining the framework for the post-Brexit EU/U.K. relationship. These developments, although much-awaited, give little legal certainty in the short term. Draft Withdrawal… Continue Reading

Prove It or Lose It! Part II: Civil Recovery Orders

Posted in White collar
In the first of our two-part series, we looked at Unexplained Wealth Orders (UWOs). To summarize, UWOs require the recipient to explain how they obtained their wealth/assets, which authorities have reasonable grounds to suspect could not have been with the recipient’s known sources of income. The UWO is the beginning of a journey that can result… Continue Reading

Prove It or Lose It! – Part I: Unexplained Wealth Orders

Posted in White collar
Unexplained Wealth Orders (UWOs) have recently been in the news. They extend the powers available to UK law enforcement authorities under the Proceeds of Crime Act 2002 (POCA). A UWO enables investigators to ask people who are holding assets, which based on their legitimate income they would not be able to afford, to prove that… Continue Reading

Greenberg Traurig Advises On Hotel Deal Valued At Approximately £858 Million

Posted in Corporate, M&A, Real Estate
LONDON – 6 August 2018 – A multidisciplinary London-based team at global law firm Greenberg Traurig, LLP advised InterContinental Hotels Group plc on its arrangements with French real estate investor Covivio (formerly Foncière des Régions) to rebrand and operate 12 high-quality open hotels and one pipeline hotel in the UK following the acquisition of the… Continue Reading

Director Disqualification: CMA Signals Increased Enforcement

Posted in Antitrust Trade & Regulation, Competition Law
The Consultation The UK Competition and Markets Authority (CMA) has on 26 July 2018 opened a consultation on revised guidance (Revised Guidance) on competition disqualification orders (CDOs) against directors of undertakings suspected to have been in breach of competition laws. Continue Reading.… Continue Reading

Tips for Dealing with a ‘Dawn Raid’ or Search in the UK

Posted in White collar
Recent statistics show investigators taking a harder line and conducting increasing numbers of searches with the Serious Fraud Office more than tripling the number of searches it conducted in connection with ongoing investigations in the 12 months ended 31, March 2018. Searches by law enforcement investigators, including dawn raids, are inherently intrusive and are often used… Continue Reading

SFO Carries out 30 Property Raids as Part of Criminal Investigations – Over Triple the Number the Year Before

Posted in White collar
But raids as part of asset seizure probes fall to zero LONDON – 26 July 2018 – The UK Serious Fraud Office (SFO) launched 30 property raids to gather evidence for its ongoing criminal investigations (i.e. before prosecution takes place) in the previous 12 months year ending March 31. The number is more than triple… Continue Reading

Frankfurt Court Approves Online Marketplace Restriction for Luxury Perfumes

Posted in Antitrust Trade & Regulation
The Higher Regional Court of Frankfurt ruled on 12 July 2018 that manufacturers of luxury products are permitted to restrict authorised resellers from reselling on online marketplaces. The marketplace restriction at issue was imposed by Coty Germany on Parfümerie Akzente, one of its authorised distributors, to prohibit it from distributing Coty perfumes on a third-party… Continue Reading

UK Court Rules a Suspect in a Criminal Investigation has Reasonable Expectation it will be Kept Private

Posted in White collar
In Sir Cliff Richard OBE v. The British Broadcasting Corporation and The Chief Constable of South Yorkshire Police [2018] EWHC 1837 (Ch) a UK court has ruled that the reporting by the BBC of a police investigation (which was later closed without prosecution) into Sir Cliff Richard and televised search of his home using a helicopter flying… Continue Reading

CJEU: Online Platform Bans in Selective Distribution Arrangements Permitted Where They Protect ‘Aura of Luxury’ of Luxury Goods – But What is a ‘Luxury’ Good?

Posted in Antitrust Trade & Regulation
On 6 December 2017 the EU Court of Justice (CJEU) issued its long-awaited preliminary ruling in the case of Coty Germany GmbH v Parfümerie Akzente Gmbh, on issues referred from a Frankfurt court concerning the distribution of luxury goods. The ruling follows the approach recommended in the opinion of CJEU Advocate General Wahl, issued in… Continue Reading

EU General Data Protection Regulation: What Impact for Franchise Businesses?

Posted in Brexit, Cybersecurity, Data Privacy
One of the most important assets that a franchise business has is its customer data. For a franchise business, data protection/data privacy regulation should be a key compliance issue. This is particularly the case in Europe, which has had comprehensive data protection laws for many years, and is reforming those laws into a legislative framework… Continue Reading

Foreign Investment and National Security: Stricter Controls Proposed by the EU and UK

Posted in Government, Investments
Within the last few weeks, both the EU and the UK have published proposals for greater screening and control of foreign direct investments (FDI) into their territories. In both cases, these proposals seek to balance the protection of critical national infrastructure and technology on the one hand and an open foreign investment environment on the… Continue Reading

Greenberg Traurig Represented CVC Capital Partners in the Acquisition of Leading Convenience Retailer Żabka from Mid Europa Partners

Posted in M&A
Greenberg Traurig advised CVC Capital Partners with respect to an agreement for the acquisition of Żabka Polska from Mid Europa Partners. The transaction is subject to customary competition authority clearance. The sale of Żabka is the largest ever transaction in the Polish food retail sector and the largest ever private equity exit in Poland. Żabka… Continue Reading

Another Major Step for Greenberg Traurig’s Already Strong European Real Estate Sector: Danielle Martin to Join in London as Shareholder

Posted in New Hire, Real Estate
Greenberg Traurig is pleased to confirm that Danielle Martin has announced she will leave Reed Smith to join us as a shareholder in London, adding to the momentum since the six-partner KWM group joined us there last week. Dani focuses her practice on complex transactions in the private equity real estate sector and is set… Continue Reading

The Equality Act (Gender Pay Gap Information) Regulations 2017

Posted in Employment law
Background The final draft of the Equality Act (Gender Pay Gap Information) Regulations 2017 (the Regulations) and accompanying Explanatory Memorandum was published 6 December 2016. Subject to parliamentary approval, the Regulations will come into force 6 April 2017. The Regulations introduce a mandatory gender pay gap reporting requirement for non-public sector employers with at least… Continue Reading