Article summary
The House of Lords Constitution Committee has published its 14th Report of Session 2021-2022 on the Economic Crime (Transparency and Enforcement) Bill, introduced in the House of Commons on 1 March 2022. This legislative proposal is a fast track measure, which aims to prevent and combat the use of land in the UK for money laundering purposes (including by introducing a Register of Overseas Entities overseen by the registrar of companies for England and Wales), reforming the UK’s Unexplained Wealth Order regime to enable law enforcement bodies to investigate the origin of property and recover the proceeds of crime, and amending financial sanctions legislation to help prevent breaches of financial sanctions. Committee and remaining stages were scheduled to take place on 14 March 2022.
To continue reading this news article, as well as thousands of others like it, sign in with LexisNexis or register for a free trial