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. The Act has now received Royal assent, addin...
The Economic Crime and Corporate Transparency Act 20232(theAct) follows the Economic Crime (Transparency and Enforcement) Act 2022 in handing new tools to prosecutors and authorities to tackle economic crime. The most significant changes that feature in the Act are the introduction of a new“failure...
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...
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) affects all UK registered companies – including professional and non-professional trustee companies. Some of the changes being made by ECCTA are already in force; others are on the way. There are at least five actions that...
Companies Houseupdated its transition plan under the Economic Crime and Corporate Transparency Act 2023, introducing new responsibilities for directors, PSCs, and filers, with phased changes funded by fee increases… Read More Jan 20, 2025
Further developments may be the subject of future Client Alerts. [2] Department for Business, Energy & Industrial Strategy, Corporate Transparency and Register Reform (CP 638, 2022).Send Print Report Related Posts UK Economic Crime Bill to Reform Companies House Latest Posts Infrastructure Insights ...
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
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 & Infrastructure, a...
He added that the UK government was setting up a new unit with a sole remit to fight illicit finance. The National Economic Crime Centre will bring together for the first time law enforcement agencies, government departments, regulatory bodies and the private sector, to crack down on economic ...
CRIME preventionDiscusses the two types of economic crime likely to occur in a corporate setting: ?governance? crimes like accounting fraud, insider trading and self-dealing, which directly affect how the business operates; and crimes like money laundering, bribery and corruption, tax fraud and ...