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Results: 1-10 of 262

Proposed amendments to the Proceeds of Crime Act 2002 would offer protection from civil liability to those reporting suspicions of money laundering

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • January 22 2015

Serious Crime Bill 2014 As some readers will be aware, the House of Commons is currently considering the Serious Crime Bill 2014 (the "Bill"), which

Market abuse update

  • Herbert Smith Freehills LLP
  • -
  • Australia, European Union, France, Hong Kong, United Kingdom, USA
  • -
  • December 15 2014

The FCA has continued to build on the strong track record of civil and criminal enforcement action against abusive conduct and manipulation, notably

The FCA's financial crime priorities

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • August 16 2013

The Financial Conduct Authority ("FCA") recently published two documents which provide additional information about its current supervisory and

Shah v HSBC: what duties do banks owe their customers when making SARs?

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • April 24 2009

Earlier this year, the High Court considered a claim by a customer against his bank in relation to its failure to process transactions whilst requests for consent under the Proceeds of Crime Act 2002 (POCA) were pending with the Serious Organised Crime Agency (SOCA

Principal's right to recover a bribe paid to a fiduciary proprietary or personal?

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • May 23 2011

The Privy Council decision of Attorney-General for Hong Kong v Reid 1994 1 AC 324 has generally been taken to hold that a principal has a proprietary right to a bribe paid to a fiduciary

Corporate Crime Update - November 2014 - United KingdomEurope

  • Herbert Smith Freehills LLP
  • -
  • European Union, United Kingdom
  • -
  • November 30 2014

HM Treasury has published an advisory notice on money laundering and terrorist financing controls in overseas jurisdictions. The notice has been

Court of Appeal finds company in liquidation not prevented from claiming against directors on basis fraud attributable to company

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • August 23 2013

The Court of Appeal has unanimously upheld an order refusing to strike out a claim by a "one-man" company in liquidation, which had been the vehicle

FSA fines MLRO and firm for failure to comply with anti-money laundering requirements

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • December 4 2008

In October 2008 the FSA issued Final Notices fining Money Laundering Reporting Officer ("MLRO") Michael Wheelhouse £17,500 for failures in overseeing and implementing the anti-money laundering systems at Sindicatum Holdings Limited ("SHL") and fining SHL £49,000 for failure to implement effective systems in relation to verifying the identity of some of its clients; the FSA stated that SHL's fine would have been significantly larger had it not been for SHL's limited resources

Who 'owns' a bribe - the recipient or victim?

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • March 29 2011

The Court of Appeal has given judgment in Sinclair Investments (UK) Limited v Versailles Trading Finance Limited & Others (2011 EWCA Civ 347), firmly dismissing the appeal - and the defendants' cross appeal - from the judgment of Mr Justice Lewison of 30 June 2011

Shah v HSBC: Court of Appeal says fact of suspicions of money laundering can be tested at trial

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • February 12 2010

Last year, HSBC was successful in obtaining summary judgment on a claim brought by one of its customers, Mr Shah (and his wife