The circumstances in which a money laundering offense may also constitute a substantive criminal offense was the subject of a UK Supreme Court decision last week.
Entries in United Kingdom (116)
The FCPA Blog is a fanboy of the UK Serious Fraud Office. Partly because we enjoy the way the SFO talks. An example is the guidance it posted about where to find graft and how to recognize it.
On December 18, 2014 the UK Government issued its long awaited “UK Anti-Corruption Plan.” The plan sets out over sixty action points for the Government and its partners, organized around four key themes of “Pursue,” “Prevent,” “Protect” and “Prepare."
The English civil law remedies arising from a contract that is subsequently infected by bribery were recently the subject of consideration in the case of Tigris International NV v China Southern Airlines Company Ltd & Anor  EWCA Civ 1649 (17 December 2014) [paragraphs 128-145]. Although, the case did not involve allegations of bribery, the alleged breaches of fiduciary duty involve the same principles.
The issue of who regulates the regulators was thrown into sharp focus following the publication of a rather costly (£3.15 million / $4.95 million) independent report into the UK Financial Conduct Authority's media and financial market management.
Transparency International released its 20th edition of the Corruption Perceptions Index (CPI) today, available here. The 2014 CPI ranks 175 countries based on the perceptions of public sector corruption. Denmark is at the top of the list with a CPI score of 92. Similar to the last several years, North Korea and Somalia are at the bottom of the list, scoring 8 each.
Last week, the UK’s Fianncial Conduct Authority published thematic financial crime risk reviews into 21 small banks and ten commercial insurance intermediaries. It also commenced a consultation exercise on its proposed guidance on financial crime systems and controls.
The UK government recently announced the publication of draft legislation entitled “Reports on Payments to Governments Regulations 2014." The legislation would require UK-registered mining, quarrying, and logging companies to report on payments they make to governments all over the world, when such payments exceed £86,000 ($137,000) in a financial year.