On 15 March 2022, theEconomic Crime (Transparency and Enforcement) Act 2022was enacted. The legislation, which has been fast tracked in light of Russia’s invasion of Ukraine, has three main objectives: Prevent and combat the use of land in the UK for money laundering purpose...
Following the UK government’s successive sanctions packages, which are the subject of recent Latham & Watkins Client Alerts,[1] the response to Russia’s invasion of Ukraine has been extended to cover wider financial crime measures. The Economic Crime (Transparency and Enforcement) Act 2022 (Act...
The ECCTA is the second part of a legislative package to prevent the abuse of UK corporate structures and to tackle economic crime, and it follows on from the Economic Crime (Transparency and Enforcement) Act 2022. ECCTA makes changes to the information required and processes involved in incorp...
On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 received Royal Assent and became law. The act introduces several wide-ranging reforms with the objective of tackling economic crime and improving transparency o...
UK government passed Economic Crime and Corporate Transparency Act 2023 on 26 October 2023 as part of its efforts to tackle economic crime The Act alters established “identification principle” to introduce a new “senior manager” test, which came into force in December 2023 ...
On 5 May 2022, James Gaudin, Andrew Weaver and Gemma Whale of our Jersey office advised on the implications of a new UK law, the Economic Crime (Transparency
Since the UK Government introduced the Economic Crime and Corporate Transparency (ECCT) Bill in September 2022, there has been much debate as to the scope of the proposed legislation and the impact it might have on reducing economic crime and fraud. ...
Fuel-injected through Parliament due to the invasion of Ukraine, the Economic Crime (Transparency and Enforcement) Act 2022 requires those behind foreign companies who own UK property to reveal their identities. Osborne Clarke's Ian Wilkinson, International Head of Real Estate & Infrast...
Much has been written about the 2023 Economic Crime & Corporate Transparency Act (ECCTA) with much technical discussion and commentary. The ECCTA outlines a range of measures aimed at cracking down further on the abuse of UK corporate structures and tackling economic crime which will result in ...
Following government guidance that updates to UK Companies Registries brought about by the Economic Crime and Corporate Transparency Act 2023 (ECCTA) would start to come into force over the course of 2024, the Companies House Registrar (Registrar) has confirmed that initial changes...