What is CDD? Customer due diligence (CDD) is a package of measures which credit institutions (such as banks), other financial institutions and other regulated entities are required to apply to their customers to ensure, as far as practicable, that the financial system is used only by bona fide persons for bona fide purposes. CDD is also known as know your customer (KYC). In the UK, CDD requirements are set out in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (2017 MLRs), which implement the Fourth Money Laundering Directive (EU) 2015/849 (MLD4) and the Second Wire Transfer Regulation (EU) 2015/847 (WTR2) and entered into force on 26 June 2017. The 2017 MLRs replaced the Money Laundering Regulations 2007, SI 2007/2157 (2007 MLRs), which implemented the Third Money Laundering Directive 2005/60/EC (MLD3) in the UK. What is a pooled account? 2017 MLRs, SI 2017/692, reg 37(5) defines a pooled account as an account into which monies are pooled and which is held

For the purposes of this Q&A, we have assumed that no settlement agreement was reached between the parties and that the entire claim has been discontinued. CPR 38.5 provides that proceedings are brought to an end against the defendant on the date that the notice of discontinuance is served on the defendant. However, this does not affect proceedings to deal with the issue of costs. CPR 38.6(1) provides that a defendant has a right to the costs they incurred up to and on the day the notice of discontinuance was served by the claimant on the defendant. CPR 44.9 provides that in such a case a

The General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR) became directly applicable and fully enforceable in all EU Member States from 25 May 2018. It made substantial changes to EU data protection law governing the processing of personal data and, in the UK, it replaced the Data Protection Act 1998 (DPA 1998) and Directive 95/46/EC (the Data Protection Directive). On 31 January 2020, the UK ceased to be an EU Member State and entered an implementation period, during which it continued to be subject to EU law. The EU GDPR regime was applicable under UK law until the end of the implementation period (11 pm UK time on 31 December 2020) and remains applicable in the EEA. The Retained General Data Protection Regulation, Retained Regulation (EU) 2016/679 (UK GDPR) regime is applicable under UK law from the end of the implementation period. The UK GDPR is heavily derived from the EU GDPR and generally the terms and core concepts used in the UK GDPR have the same meaning as they do in the EU GDPR,

We have provided brief information on the taking of DNA samples in the context of a criminal investigation and DNA samples taken in other circumstances. DNA samples taken during a criminal investigation If DNA samples are taken during a criminal investigation, our Practice Note: Destruction

Law360, Expert analysis: Barely a year after the entry into application of Markets in Cryptoassets Regulation (MiCA), the European Banking Authority (EBA) published a so-called no-action letter on 10 June 2025, aimed at securing the applicable regime for cryptoasset service providers operating in relation to e-money tokens (EMTs). Hubert de Vauplane, partner, and Hugo Bordet, consultant, at Morgan Lewis & Bockius LLP, discuss the implications of this regulatory development for cryptoasset service providers and the broader digital assets market within the European Union's evolving regulatory framework.

Law360, Expert analysis: In June 2024, the European Supervisory Authorities, or ESAs, provided their opinion and recommendations following the European Commission’s review of the Sustainable Finance Disclosures Regulation (SFDR) originally announced in September 2023. The detail from the ESAs could carry significant influence on the Commission’s final approach to the SFDR review. Jin-Hyuk Jang and John Young, international counsel, and Eike Björn Weidner, associate, at Debevoise & Plimpton LLP, summarise and assess the main recommendations.

Law360, Expert analysis: The European Commission is expected to publish a proposal for the review of the Sustainable Finance Disclosure Regulation, or SFDR, in the first half of 2025. Patricia Volhard a partner and head of the European funds regulatory practice, John Young, a counsel, and Jin-Hyuk Jang, a counsel, at Debevoise & Plimpton LLP analyse the proposed categorisation scheme and examine the key features asset managers will need to engage, when the commission publishes its formal proposal, focusing on how these changes will impact the classification of funds into new categories like sustainable, transition, and ESG collection.

Law360, Expert analysis: The Financial Conduct Authority (FCA)'s approach to enforcement is changing. So stated Therese Chambers, joint executive director of enforcement and market oversight at the FCA, speaking in September 2024 to the Association for Financial Markets in Europe's Annual European Compliance and Legal Conference in London. Over the year 2024, we have seen changes at the FCA, and apparently, more are to come. Imogen Makin, counsel at WilmerHale, looks at the FCA’s performance in 2024 and provides tips for mitigating risk of FCA scrutiny in 2025.

There will be situations where a third party expert may need to be instructed by lawyers acting on behalf of a client. This could be an expert in the traditional sense, such as a handwriting or other forensic expert, counsel, accountant or any other third party to whom the information is being transferred. When instructing any third party, regardless of the stage reached, the General Data Protection Regulation (GDPR), Regulation (EU) 2016/679 will be engaged and a number of issues will arise. This will apply to both investigations and proceedings and to any third party as the GDPR will apply regardless of the circumstances or the stage reached and there are no exemptions within the GDPR that will remove or reduce the obligations on the parties as set out below. The primary question to be answered will be whether the third party who is

Where the deceased died domiciled abroad with assets in the UK and the estate qualifies as an excepted estate, their personal representatives (PRs) should complete and submit IHT207 form. A foreign domiciliary's estate will usually qualify as an excepted estate where the deceased was never domiciled in any UK jurisdiction and the UK assets consist only of certain

This Practice Note explains the types of intellectual property (IP) rights which a business might own, including trade marks, designs, copyright, databases, and patented or patentable technology. It is an introductory guide which can assist a business when reviewing its IP portfolio, conducting an audit or deciding what IP protection to secure for its assets. IP rights are valuable assets which are vital to the success of many businesses. Often, businesses do not realise the extent of the IP rights which they own and what benefits they can bring. Ensuring this IP is captured and utilised is vital to ensure the success of any business. The table below sets out the main IP rights together with details of the IP assets which a business may own. IP right Details Registered trade marks registered trade marks and trade mark applications Unregistered trade marks includes unregistered business names, trading names, product or service names used by the business. Also includes product shapes, packaging and slogans Design

AI in business In 2023, the world changed again. Much like coronavirus (COVID-19), the use of generative AI tools (GenAI) spread like a pandemic. Eager to achieve the efficiencies promised, people and organisations embraced these exciting new tools. With the mass adoption of such general-purpose technology, there is a danger people and businesses are being carried along with the wave without fully appreciating how GenAI works and what problems arise as a result. Instead, they rely on the tool to do the ‘thinking’ for them. GenAI tools do not ‘think’ in the traditional sense. The underpinning program of the tool ‘simply’ accesses the vast amount of data which it has been ‘fed’, identifies appropriate patterns within that data to produce a response which is statistically most relevant to the question asked. The main issue with using GenAI tools is not knowing where the data being accessed has come from. The subsidiary issue is: have