BLL Bulletin

Typing on laptop
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Wrongful trading — a civil contravention with a money laundering implication?
Speed read: The wrongful trading suspension ended on 30 September 2020 and it is important that company directors keep in mind the offence in section 214 of the Insolvency Act 1986.
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Cryptoasset_service_provider
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Cryptoasset service providers should plan, not panic
Speed read: The recent Financial Conduct Authority (FCA) ban on crypto-derivatives trading to retail consumers sent waves of commentary through the crypto world.
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American Flag
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The impact of a person’s OFAC designation in the UK
Speed read: Anita Clifford considers the scope for enforcement of OFAC designation against UK persons.
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Tax reporting
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Tax reporting under DAC 6 – will it make a difference?
Speed read: As the UK reporting deadlines fast approach, Rachel Clark examines the new obligations to report arrangements under ‘DAC 6’, and what this means for taxpayers and their advisers.
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Game of Chess
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To train, and to train well – that is the question
Speed read: Training is a requirement under the UK Money Laundering Regulations but the wording leaves wide scope for interpretation.
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Furlough-Fraud
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Furlough Fraud and Professional Advisers
Speed read: Fraud on employee support schemes is a focus for enforcement authorities in the United Kingdom, Australia and Canada.
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Court room interior - Regulatory Cases and Criminal Benefit
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One-size does not fit all: regulatory cases and criminal benefit
Speed read: The recent case of R v Roth [2020] EWCA Crim 967 confirmed that when assessing a defendant’s criminal benefit in regulatory cases,
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Grey book and pen
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Developments in POCA disclosure orders
Speed read: Anita Clifford considers the recent case of Faerman v SFO [2020] EWHC 1849 (Admin) which reinforced the jurisdictional limits of disclosure orders and need for careful scrutiny of orders made.
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London_Courts
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New law on shaky ground: the test for dishonesty in criminal law
Speed read: The Court of Appeal affirming the Ivey test as the new standard for dishonesty in criminal law has changed the substantive criteria for dishonest conduct.
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Open sign
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Is Phoenixism about to rise from the ashes?
Speed read: Phoenixism (liquidating a company only for the same business to re-emerge from the ashes as a fresh entity) is likely to be touted as a ‘quick fix’ to many corporates suffering financial hardship due to Covid-19.
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