Financial crime

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Deferred Prosecution Agreement A Deferred Prosecution Agreement (DPA) is an agreement between a prosecutor and an organisation facing prosecution for an alleged economic...

Practice Note

What is asset stripping? Asset stripping involves taking company funds or assets while leaving behind the debts. Sometimes directors then transfer only the assets of a...

Practice Note

What is a boiler room fraud? Boiler rooms are the names ascribed to high pressure sales environments. The idea is that the sales environment creates the pressure of a...

Practice Note

Breach of a DPA The procedure for the circumstances in which a prosecutor believes that an organisation may be in breach of a DPA is set out in paragraph 9 of Schedule 17...

Practice Note

Fraud—what is it? Fraud can best be described as the deliberate or intentional use of misrepresentation, deception or dishonesty to deprive, in order to make a gain or...

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This Practice Note explains counter-terrorist financing (CTF), including the offences and obligations contained in the Terrorism Act 2000 (TA 2000) and related...

Practice Note

ARCHIVED: This archived Practice Note is not being maintained. It tracked the passage of the Bill through Parliament to its publication as an Act, and highlighted key...

Practice Note

ARCHIVED: This archived Practice Note is not being maintained. The Money Laundering Regulations 2007, SI 2007/2157, (MLR 2007, SI 2007/2157) were revoked and replaced by...

Practice Note

Introduction to cybersecurity in financial services firms In the wake of continued escalations in phishing and denial of service attacks against banks and other financial...

Practice Note

Authority to conduct a dawn raid The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) can carry out dawn raids on the premises of firms...

Practice Note

What is a deferred prosecution agreement? A deferred prosecution agreement (DPA) is an agreement between an organisation and a designated prosecutor to enable the latter...

Practice Note

This Practice Note explains the process of the designation of sanctions targets by the UN, EU and in the UK under the Terrorist Asset-Freezing etc Act 2010 (TAFA 2010)....

Practice Note

When does a deferred prosecution agreement expire? A deferred prosecution agreement (DPA) usually expires on the date specified as a term of the agreement, unless it is...

Practice Note

This Practice Note summarises the Deferred Prosecution Agreement Code of Practice published by the Serious Fraud Office (SFO) and Crown Prosecution Service (CPS) on the...

Practice Note

Which organisations will be suitable for DPA negotiations The Deferred Prosecution Agreement Code of Practice (DPA Code) for prosecutors is intended to guide prosecutors...

Practice Note

Who are the enforcers under the Consumer Credit Act 1974 From 1 April 2014 enforcement of the Consumer Credit Act 1974 (CCA 1974) became the responsibility of the...

Practice Note

This Practice Note discusses the two ‘failure to prevent’ corporate criminal offences created by the Criminal Finances Act 2017 (CFA 2017): • CFA 2017, s 45 creates the...

Practice Note

Search and seizure—the law The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) (together, the Regulators) have powers of entry, search and...

Practice Note

In recent years, as part its policy of ‘credible deterrence’, the Financial Conduct Authority (FCA) has sought to take more disciplinary action against individuals,...

Practice Note

This Practice Note introduces the Financial Action Task Force (FATF) and its work in relation to setting standards and promoting adoption and use of legal, regulatory and...

Practice Note

Financial Conduct Authority interviews The Financial Conduct Authority (FCA) can conduct interviews in a variety of formats. The type of interview to be conducted is a...

Practice Note

Search and seizure—the law The FCA has the power under the Financial Services and Markets Act 2000 (FSMA 2000), s 176 to apply to a magistrate for a warrant to enter...

Practice Note

The Financial Services and Markets Act 2000 (FSMA 2000) creates a range of criminal and civil/regulatory offences. For further information on civil/regulatory breaches...

Practice Note

Introduction The Financial Conduct Authority (FCA)’s financial crime guide is entitled Financial Crime Guide: A firm's guide to countering financial crime risks (FCG)....

Practice Note

Purpose of a financial penalty in a deferred prosecution agreement (DPA)? Where a financial penalty is to be imposed as a term of a deferred prosecution agreement (DPA),...

Practice Note

Financial sanctions and legislative regime during the implementation period As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in...

Practice Note
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