EVENT: Members briefed on the new Criminal Finances Act

Date: 28th September, 2017 Time: 06:00 pm - 09:00 pm
Members briefed on the new Criminal Finances Act

The Criminal Finances Act is the latest in a series of moves by the British government to tighten legal and regulatory controls on crime and corruption. The Act creates the new offence of 'Failure to Prevent the Facilitation of Tax Evasion' and strengthens the authorities' ability to investigate 'unexplained wealth' (such as a person owning an expensive property or an expensive car when s/he has no visible way of affording it). The Act also ammends the Proceeds of Crime Act (POCA) to enable the authorities to request more information after receiving a Suspicious Activity Report (SAR) - creating a so-called 'super-SAR'.

Some of the Act's provisions became effective on 30 September, making the briefing very timely. 

Jo Rickards, a partner with Mishcon de Reya, explained the legal aspects of the new law. Her presentation is attached below.

Tom Townson and Dana Ward, partners with Grant Thornton, then outlined how firms should respond to the Act. 

This seminar forms part of the ABA's mission to keep its members informed about new regulatory and legal developments that affect their work.

After the presentations and questions and answers, participants were able to mix with speakers informally and enjoy a buffet dinner. 

 

Mishcon de Reya Slides

More in Events

Tutorial on Whistleblowing

Tutorial on Whistleblowing

We partnered with Protect to offer our members a tutorial on whistleblowing requirements and good practices.

  • Date: 19th June, 2019
  • ABA Offices, Mayfair

Good Food, Good Company, Good Fun: ABA Christmas Party hits the mark again

Good Food, Good Company, Good Fun: ABA Christmas Party hits...

We held our Christmas party on 13 December. About 90 members and friends attended what was our fourth social event of the year. There are photos on th eGallery Tab of this website.

  • Date: 13th December, 2018
  • ABA Offices, Mayfair

FTI Consulting Delivers Tutorial on Compliance Management

FTI Consulting Delivers Tutorial on Compliance Management

FTI Consulting delivered a tutorial to ABA Corporate Members on the management of the compliance function. 

  • Date: 7th December, 2018
  • ABA Offices, Mayfair

PRA Staff Brief Arab banks on expectations and developments

PRA Staff Brief Arab banks on expectations and developments

Six executives from the Prudential Regulation Authority briefed CEOs and other senior executives of Arab banks in London at the ABA's offices on 28 November. This was the latest in the regular series of briefings that the two UK banking...

  • Date: 27th November, 2018
  • ABA Offices, Mayfair

Corporate Members' Seminar on Libor and Benchmarks

Corporate Members' Seminar on Libor and Benchmarks

Janes Solicitors and Arab Financial Forum hosted a seminar for our corporate members on the recent scandals surrounding the Libor benchmark. 

  • Date: 19th September, 2018
  • ABA Offices, Mayfair

Upcoming ABA Events


Other Upcoming Events