Expert Analysis

• UK Investment Screening Inches Closer To US Regime

  

  The recent agreement between the U.K. Cabinet Office and House of Commons concerning parliamentary scrutiny of the Investment Security Unit represents a step toward greater transparency of intervention in investments that may raise national security concerns, and underscores increasing alignment with the U.S. regime, say attorneys at Hogan Lovells.

• UK Ruling May Affect 3rd-Party Fraud Liability Post-Insolvency

  

  While the recent Court of Appeal decision in Tradition Financial Services v. Bilta could make Section 213 of the Insolvency Act a powerful tool for liquidators, it also heightens the risk of companies tangentially involved in fraud being subject to claims following insolvency, say attorneys at Dechert.

• 5 Ways For A Legal Practice To Close Technology Gaps

  

  With technology a driving force for success, the U.K. legal sector must embrace innovation to maintain its competitive edge, and investing in new processes is no longer optional, says Gareth Preece at Doherty Associates.

• UK Ruling Offers Useful Guidance To Insolvency Practitioners

  

  The recent U.K. High Court ruling in a matter involving Sova Capital represents the first unsecured credit bid to be approved by an English court, demonstrating a pragmatic approach to complex sanctions-related administrations and identifying a novel solution for insolvency practitioners to maximize value for the benefit of creditors, say attorneys at Katten.

• The FCA's Timely Plan To Reform Asset Management Regime

  

  The discussion paper recently issued by the U.K. Financial Conduct Authority finally addresses how, in the future, asset management regulation will work in totality from an investor, manager and distributor perspective, and its review of the purpose and balance of the regime is welcomed, says Tim Dolan at Greenberg Traurig.

• UK's Draft Fraud Offense And How It May Affect Companies

  

  The new U.K. corporate criminal offense of "failing to prevent fraud," recently published in draft form, will make it easier for prosecutions to be brought against companies, with no need to show that the "directing mind and will" of a company were involved in the fraud, say attorneys at Allen & Overy.

• Questions Raised By UK Plan For ESG Ratings Providers

  

  HM Treasury is taking steps toward regulating environmental, social and corporate governance ratings providers, aiming to ensure adequate protection for U.K. users and level the playing field, but the potential new regime risks imposing undue regulatory burden and overlapping requirements on U.K. and overseas firms, say Ferdisha Snagg and Andreas Wildner at Cleary.

• Why The Royal Mint Failed To Launch An NFT

  

  Without a clear objective it is unsurprising that The Royal Mint’s attempt to launch a nonfungible token ended with a whimper rather than bang, says Dion Seymour at Andersen.

• Review Of Senior Managers Regime Provides Useful Insight

  

  Although the recently launched review of the Senior Managers and Certification Regime suggests a remodel rather than wholesale change, the topics raised illustrate the mindset of the three key stakeholders in the U.K. financial services sector, say Richard Burger and Katy O’Connor at WilmerHale.

• Highlights Of The UK's New Economic Crime Plan

  

  With the direction of the U.K. government’s newly launched second economic crime plan undeniably altered by the recent focus on kleptocrats and their money, the emphasis is now on how the U.K. can deliver a more effective approach to reducing the threat of economic crime, says Kathryn Westmore at the Royal United Services Institute.

• Fresh View Ruling Offers Clarity On Forfeiture Orders

  

  The pragmatic focus on property rather than the defendants’ wrongdoing in Fresh View v. Westminster Magistrates' Court will be welcomed by enforcement authorities, although the low bar where mere knowledge or suspicion of unlawful conduct may be sufficient for forfeiture could be of concern to innocent recipients, says Joseph Sinclair at Mountford Chambers.

• Considering Sanctions Enforcement From An EU Perspective

  

  The creation of the European G-7 Enforcement Coordination Mechanism and a sanctions environment with increased enforcement on a multijurisdictional level aims to streamline enforcement at EU level, essential for an effective implementation of the sanctions, say attorneys at Baker McKenzie.

• Analyzing The UK Proposal For A Digital Pound

  

  While the HM Treasury and Bank of England’s consultation makes clear that a central bank digital currency will likely be needed in the future, and there is certainly momentum in the space, there are still a number of concerns to be addressed, say attorneys at Simmons & Simmons.

• How The LDI Crisis May Lead To Pensions' Negligence Claims

  

  Following the liability-driven investment crisis and its impact on pension schemes, employers and trustees may now be considering if anyone is to blame for any losses arising, say Rachael Healey and Andrew Oberholzer at RPC.

• UK Financial Services Bill May Not Be Quick Fraud Fix

  

  While the U.K. Financial Services and Markets Bill is expected to pass into law this year and will make it easier for fraud victims to achieve redress, the reforms could result in increased costs and greater friction in payment processing and may not directly make it more difficult for criminals to operate scams, say Daniel Murphy and Gary Orritt at Eversheds Sutherland.