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
Welcome

Dear Colleague,


Welcome to the third edition of the Business Crime Bulletin from the Regulatory and Financial Crime team at Doughty Street Chambers. The Bulletin is designed to provide solicitors, accountants, compliance officers and others advising businesses or clients who may find themselves accused of fraud, regulatory or other white collar offences, with useful commentaries and articles on current cases and legislation, as well as offering practical advice on how to interpret new law. Written by specialist members of our team, all of whom are experienced advocates and a number of whom are published authors in the field of regulatory and financial crime, we aim to illuminate and simplify the increasing complexities in this fast-changing area of practice.


In this edition, we look in particular at a number of issues which arose from this month's Anti-Corruption summit hosted by David Cameron.  Ben Newton looks at the extension of the "failure to prevent" offence, Harriet Johnson highlights the creation of a new global initiative to improve asset recovery, and Jake Taylor notes that new changes are afoot for the regulation of market abuse.  With increasing powers of sanction, Rupert Bowers QC looks at the widespread increase in corporate criminal liability, and I suggest that companies should consider extending their internal audit plans to include a legal "health check".  Readers may also be interested to read Siobhan Grey QC's report on last week's speech by the SFO delivered to the compliance industry, setting out their current priorities.  And looking at some recent law in more detail, Richard Fisher QC flags up at a Supreme Court decision which may allow appellants to challenge historic confiscation orders, and David Hislop QC considers terrorism financing, an increasingly important but thorny problem for professional advisers.


Our Regulatory and Financial Crime Team regularly provides in-house updates and training to our clients on a wide range of subjects.  If you would like to discuss this for your organisation, whether in relation to any of the topics raised by this edition or otherwise, please contact our Business Development Director Maurice MacSweeney.  


We hope our Bulletin may be of interest to you.  And please feel free to distribute it to your colleagues and contacts using the "Send to a Friend" button below if you think they may be interested.  They can let us know if they would like to be added to our mailing list.  However, we take your privacy very seriously; if you are not interested in receiving further mailings from us, please click here to be unsubscribed, or click on the dedicated link at the top of this e-mail. Your details will never be shared with any other organisations. 


With best wishes,



Adrian Waterman QC
Leader of the Regulatory & Financial Crime Team

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