In the latest of our Risks Redefined podcast series, Janna Garcia, Katie Stephen, Stuart Neely and Hannah McAslan-Schaaf focus on failure to prevent fraud risk assessments, including discussion of what firms should be thinking about in this area and what we have been seeing through our work supporting firms in relation to the new offence.
FTPF: Considerations for In-house Lawyers
The new failure to prevent fraud (FtPF) offence, which will come into effect on 1 September 2025, poses some potential challenges for an in-house legal team (Legal Team) including anticipating and mitigating associated risks such as:
(1) the risk that a member of the Legal Team commits an underlying fraud offence
Failure to prevent fraud: what should you be doing before September?
With less than five months to go until the new UK failure to prevent fraud offence comes into force on 1 September 2025, many organisations are conducting risk assessments and enhancing anti-fraud policies and procedures with a view to preventing fraud and providing themselves with a defence should this be necessary.
The new offence will
New Regulation Tomorrow Plus podcast: Failure to prevent fraud in the UK – considerations for US firms
In our latest Global Regulation Tomorrow Plus podcast, Kevin Harnisch, Mark Highman, Katie Stephen and Hannah McAslan-Schaaf discuss the failure to prevent fraud offence under the UK’s Economic Crime and Corporate Transparency Act 2023, which comes into force on 1 September 2025, and how it might impact US firms.
Listen to the podcast here.
Split the difference podcast – the new SEC short sale disclosure rule and changes to the UK regime
In the December episode in our Split the Difference podcast series, which explores divergence in the regulatory regimes in the markets space, Mark Highman and Hannah McAslan-Schaaf consider the US and UK regimes for short selling. On the US side we focus in particular on the SEC’s short position and activity reporting requirements under SEC
D&I jurisdiction summary – updated
In recent years, diversity and inclusion (D&I) in the financial services sector has become a focus for regulators around the world. Individual regulators, however, have taken different approaches to D&I to reflect the local socio-economic environment.
Below, we provide a high-level summary of the position across a number of key jurisdictions updating our table published
Failure to prevent fraud: What do financial services firms need to be thinking about now?
In October, we published an article setting out five key steps for regulated financial services firms to be thinking about in relation to the new failure to prevent fraud (FTPF) offence. We also have a number of more general publications on this topic which can be found on our knowledge hub.
The
Failure to prevent fraud: five key steps for regulated financial services firms
The new failure to prevent fraud offence is due to come into force during 2025. In broad terms, in respect of the financial services community, it will mean that regulated firms of a certain size could be at risk in the event that fraud is committed for their benefit or the benefit of their clients
Information sharing under ECCTA
Information sharing by regulated firms
On 4 October 2024, the Department for Business & Trade published guidance (the Guidance) on the information sharing measures in the Economic Crime and Corporate Transparency Act 2023 (ECCTA).
The purpose of the Guidance is to support firms operating in the “regulated sector” within Schedule 9 of
New briefing note – FCA / PRA focus on D&I: What do firms need to be doing now?
We have published a new briefing note, FCA / PRA focus on D&I: What do firms need to be doing now?
In this briefing note we set out 10 practical tips for regulated firms to consider to ensure that D&I considerations are effectively and impactfully embedded into their policies, procedures, controls, systems and governance structures.