Expert Analysis

• Why The Draft UK Fraud Offense May Not Be A Game Changer

  

  Although the U.K.’s proposed "failure to prevent fraud" offense will generate a need for large businesses to reassess their existing processes, given the long lead-in times for prosecutions and the Serious Fraud Office's current success rate, it seems unlikely that the corporate fraud landscape will be immediately transformed, say Charles Kuhn and Charlotte Gill at Clyde & Co.

• A Review Of The EU FDI Screening Regulation And Its Scope

  

  The EU advocate general’s recent broad interpretation of the EU Foreign Direct Investment Screening Regulation takes account of some of the geopolitical challenges faced by the bloc, and may foreshadow a revision of the regulation and widen the scope of investments screened, say Vassilis Akritidis and Jean-Baptiste Blancardi at Crowell & Moring.

• Key Takeaways From EU Proposal For Greenwashing Rules

  

  If the proposal for a Green Claims Directive, with its enhanced rules on claims about a product or trader's environmental impact, is adopted, it will affect all businesses selling their products in the EU and bring major changes to the way those products are packaged and advertised, say attorneys at Shearman.

• How EU ESG Regs Affect US Financial Market Participants

  

  The European Commission recently confirmed that the Sustainable Finance Disclosure Regulation applies to all funds marketed in the EU, so affected U.S. financial market participants will need to consider the new guidance on principal adverse impacts, sustainable investments and promotion of carbon emissions reductions, say attorneys at Debevoise.

• UK Plan For AI Rules Raises Compliance Questions For Cos.

  

  The U.K. government's proposal for a new, clear and pro-innovation regulatory framework on artificial intelligence diverges from the European Union's approach, which may create incoherence and compliance burdens for businesses operating in both jurisdictions, says attorneys at Akin Gump.

• 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.