By Gareth R. Hall, Barry Vitou and Anne-Marie Ottaway on Posted in criminal law,White collarLisa Osofsky, the new director of the UK Serious Fraud Office, says her agency should use insiders and co-operators to bring to life by way of live evidence the document-heavy cases it prosecutes. Speaking to the Commons Justice Committee in December 2018, Ms Osofsky alluded to the slow pace of SFO investigations as one of… Continue Reading
By Gillian Sproul on Posted in Brexit,International Law,International TradeIt is now less than two months until 29 March 2019, the date set for the UK’s withdrawal from the EU. At this late stage, the terms of the UK’s withdrawal have still not been settled, and the Brexit issue remains clouded in uncertainty. As a result of a vote in the UK Parliament 29… Continue Reading
By Anne-Marie Ottaway, Barry Vitou and Gareth R. Hall on Posted in criminal law,Tax,tax evasion,White collarThe 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
By Gillian Sproul on Posted in Brexit,International Law,International TradeThe EU Court of Justice ruled today, 10 December, that the U.K. can unilaterally withdraw its “Brexit” notification to the EU. The ruling follows the advice of the advocate general to the EU Court last week, that the U.K. should be able to revoke the notification without the consent of the other 27 EU member… Continue Reading
By Anne-Marie Ottaway, Barry Vitou and Gareth R. Hall on Posted in criminal law,White collarPart 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
By Gillian Sproul on Posted in Brexit,Government,International Law,International TradeAt 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
By Anne-Marie Ottaway, Barry Vitou and Gareth R. Hall on Posted in White collarUnexplained 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
By Greenberg Traurig on Posted in White collarBut 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
By Lisa Navarro on Posted in Brexit,GovernmentOn 12 July 2018 the UK government published a white paper outlining its vision for the UK’s future relationship with the European Union (EU) after the UK’s exit from the EU on 29 March 2019. The white paper is predicated on the UK’s exit from the Single Market and the Customs Union and outlines the… Continue Reading
By Clive Jones on Posted in Real Estate,TaxOn Nov. 22, UK Chancellor Phillip Hammond announced dramatic changes to the UK real estate market in the 2017 Budget. The Government has announced an intention to extend the scope of UK tax so that disposals of all UK commercial and residential property by non-resident companies, JPUTs, individuals, and other persons are subject to UK… Continue Reading
By Gillian Sproul and Addiped Cheng on Posted in Government,InvestmentsWithin 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
By Lisa Navarro and Marie-José van der Heijden on Posted in Compliance Programs,CorporateOn 8 November 2016, the French Parliament approved new anti-corruption legislation. Championed by the Minister of Finance Michel Sapin, the law that is commonly known as Sapin II will fundamentally change the compliance landscape for French companies. In particular, it will place a positive obligation on large companies, and their subsidiaries, to implement anti-corruption compliance… Continue Reading
By Lisa Navarro, Martha A. Sabol, Mark A. Clayton and Lorne S. Cantor on Posted in GamingThe UK’s Competition and Markets Authority (CMA) has recently launched an investigation into the treatment of customers by online gambling companies. This is in response to concerns raised by the Gambling Commission that certain aspects of behaviour by online gambling companies, including misleading promotions, unfair terms, and the blocking of payouts might be breaching consumer… Continue Reading
By Lisa Navarro, Kate Eades, Martha A. Sabol, Mark A. Clayton and Lorne S. Cantor on Posted in Brexit,Gaming,M&AThis note addresses the impact of Brexit on the gaming industry. It is one of a series of GTM Alerts designed to assist businesses in identifying the legal issues to consider and address in response to the UK’s referendum vote of 23 June 2016 to withdraw from the European Union. In particular, it considers the… Continue Reading
By Françoise Gilbert on Posted in Cybersecurity,Data PrivacyThe 261-page final draft of the EU General Data Protection Regulation (GDPR), which replaces Directive 95/46/EC (Directive), was formally approved by the EU Parliament on April 14, 2016. The document is expected to be published in the Official Journal of the European Union (EU) in June, and to enter into force 20 days thereafter. The… Continue Reading
By Charles O. George on Posted in CorporateIn the recent case of Eclairs Group Limited & another v. JKX Oil & Gas Plc [2015] UKSC 71, the Supreme Court considered the duty of directors to exercise powers “only for the purposes for which they are conferred” (s171 of the Companies Act 2006 (CA 2006)). Facts Eclairs and Glengary were shareholders in JKX… Continue Reading
By Kate Eades on Posted in General,Pro BonoWritten by Chantal Phillips GTM is a lead sponsor of Cathedral Group’s ‘A Dolls’ House’ project whereby 20 of the world’s leading architects and designers will present their vision of a dolls’ house at a live auction to be held at Bonham’s on 11 November, with all proceeds of the auction going to KIDS charity.… Continue Reading
