Insolvency Service criminal prosecutions
Insolvency Service criminal prosecutions

The following Corporate Crime practice note provides comprehensive and up to date legal information covering:

  • Insolvency Service criminal prosecutions
  • Powers of investigation
  • Company investigations under section 432
  • Company investigations under section 447
  • Offences

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for corporate crime?

On 1 January 2017, the Department for Business, Energy and Industrial Strategy’s (BEIS) Criminal Enforcement Team transferred to the Insolvency Service. The Insolvency Service Criminal Enforcement Team (ISCET) is the lead criminal enforcement agency for insolvency related fraud and corporate misconduct. It is the prosecuting authority for breaches of insolvency and company law referred to them by other teams within the Insolvency Service, by Companies House and other agencies. They also deal with miscellaneous criminal matters arising within BEIS. The merging of the BEIS criminal prosecution team into the Insolvency Service means that the Insolvency Service now has oversight of the full range of investigation and enforcement action that is being pursued.

Practitioners must consider the role of ISCET when thinking about the potential liability for their clients and should no longer solely be concerned about a potential approach by the Crown Prosecution Service (CPS), HMRC or the Serious

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