House of Lords on Protection for Whistleblowing Bill

The bill would introduce several protections for whistleblowers, including the establishment of an independent Office of the Whistleblower. The office’s principal duty would be to protect whistleblowers and oversee the process of whistleblowing…

UK ML/TF Regulations 2022 passed by Parliament

UK ML/TF (Amendment) (No. 2) Regulations 2022 come into force on 1 Sept 22 extending the scope of BO reporting discrepancies among others. Reg 13 makes it clear that supervisory authorities can directly require members to show them SARs “to help them in...

UK Report on Cost of Complacency: illicit finance

UK Foreign Affairs Committee publishes its report on The Cost of Complacency: illicit finance and the war in Ukraine, calling for a substantial increase in funding and expert resourcing for the NCA, SFO and other responsible agencies…

UK sanctions Russia’s second richest man

UK introduces new measures to ensure that oligarchs cannot use UK trusts services. Potanin continues to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine…