In this issue
Welcome
Failure to Prevent Economic Crime to Become An Offence (This Time)
The SFO's Current Direction and Priorities
Market Abuse Regulation: The Key Changes
Clean Hands: Legal Audits
Corporate Criminal Liability: a changing landscape
Terrorism Financing: Institutions be warned!
R v Harvey - An opportunity to challenge historic confiscation orders?
A New Global Forum for Asset Recovery
New Edition of Blackstone's Guide to POCA 2002 published
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If you would like to know more, or discuss how our barristers may be able to help you and your clients, please contact Maurice MacSweeney, our Business Development Director, on 020 7404 1313. 

    

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Feature Articles
Failure to Prevent Economic Crime to Become An Offence (This Time)

This month Prime Minister David Cameron hosted what the Government termed "a landmark international anti-corruption summit" in London. Commentators have, however, questioned whether or not any new initiatives really emerged. Ben Newton looks at the much trumpeted consultation on extending the "failure to prevent" offence. 

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The SFO's Current Direction and Priorities

The SFO's joint head of bribery and corruption, Matthew Wagstaff, gave a speech last week to an industry conference of compliance professionals.  It provided an interesting insight into the current thinking of the SFO on its investigations and prosecutions. Siobhan Grey QC comments on what Mr Wagstaff said.

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Market Abuse Regulation: The Key Changes

Whilst Brexit may still remain a mere possibility, one certainty (for the moment at least) is the coming in to effect of a new Market Abuse Regulation on 3rd July 2016, which will significantly change the European regulatory framework. As it will supersede the UK's current market abuse regime, Jake Taylor encourages practitioners to take note, and he highlights some of the key changes.    

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Clean Hands: Legal Audits

As anti-corruption is high on Government's agenda, so too will it be high on the agenda of regulators and prosecutors.  It follows, then, that managing the consequent greater risk of sanction should be of equally high concern for commercial organisations.  Adrian Waterman QC argues that when they come to decide how best to manage their risk in the current climate they may wish to consider the commercial benefits of seeking a legally certified "health check". 

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Corporate Criminal Liability: a changing landscape

Once upon a time the only criminal advice a company would normally consider was after some kind of industrial accident. How times have changed. Corporate bodies and their directors and officers are now, more so than ever before, subject to a bewildering array of criminal liabilities, with new offences regularly being added to the statute books. Rupert Bowers QC shares his views.

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Terrorism Financing: Institutions be warned!

Discussion of the global threat of terrorism is a constant feature on our televisions and in our newspapers.  But terrorism needs money, and commercial organisations, their bankers and other professional advisers are at high risk of being used to finance terrorism, and few would want to be in the position of BNP Paribas who were fined $9bn for violating sanctions.  What are the risks? David Hislop QC highlights some of the key issues.

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R v Harvey - An opportunity to challenge historic confiscation orders?

Those advising defendants post-trial will be well used to hearing from their clients how unfair (in their view) confiscation proceedings appear to be in comparison to receiving a conviction. Occasionally the Supreme Court offers glimmers of hope.  Might the recent case of Harvey, in which their Lordships found in favour of the appellant, offer any comfort for those against whom a confiscation order has been awarded?  Richard Fisher QC investigates. 

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A New Global Forum for Asset Recovery

Another new announcement from the Prime Minister's Anti-Corruption summit this month was the creation of the Global Forum for Asset Recovery.  It meets for the first time next year.  Harriet Johnson considers what its remit will be, and whether or not its work and the likely statutory change which will need to follow are likely to lead to tangible improvements.

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In Other News...
New Edition of Blackstone's Guide to POCA 2002 published

A new edition of Blackstone's Guide to the Proceeds of Crime Act 2002 has been published, written by three barristers from Doughty Street - Edward Rees QC, Richard Fisher QC and Richard Thomas.  Now in its fifth edition and running to 864 pages, it is available from Oxford University Press for £49.99 and is also available as an eBook.  More information can be found on the OUP site.  A discount can be arranged for friends of Doughty Street; pleae contact our Business Development Director Maurice MacSweeney for more information.

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