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BBA Suggest Ways to Bring Criminal Sanctions against Bad Bankers

An interesting article in the Sunday Telegraph (15 September 2012) reports that the British Bankers' Association has put forward proposals to strengthen criminal sanctions against bankers who break financial conduct rules in a significant repositioning of the organisation, which has previously been seen as the last defender of the City. The full article can be found here.

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New Money Laundering Regulations in Force Soon

Money Laundering (Amendment) Regulations, SI 2012/2298, will be in force on 1 October 2012. These are additional regulations designed to prevent money laundering and terrorist financing, and are aimed at (but not exclusively) finance professionals.

If you need anti-money laundering (AML) legal advice contact Siobhain Egan.

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Legal News Updates from our Criminal Defence Lawyers: September

The following are some useful legal news updates from our criminal defence lawyers. Contact us for specialist advice on any of these topics.

Tax Fraud Banker Gets $104m Award

September 13, 2012
The BBC reports that the US Internal Revenue Service has awarded $104m (£65m) to a convicted former banker who informed US tax authorities about overseas tax cheats. See the full article here.

Average Age of First-Time Buyers Now 35

September 11, 2012
The Telegraph reports that the average age of a first-time house buyer has risen to 35, up from 28 just a decade ago, due to rising house prices and reduced levels of savings, according to research. You can read the full article here.
Contact Richard McConnell if you are buying a property for personally tailored service.

Laura Saunsbury Published Once Again in CPSA’s ‘Pull! Magazine’

September 10, 2012
Laura, a regular contributor to Pull! Magazine, has had her most recent article published in this month’s edition.

Siobhain Egan’s Article on Financial Fraud Laws Published in JC

September 10, 2012
Friday’s edition of the Jewish Chronicle features an article written by Siobhain Egan in their Law & Audit supplement, page 62.

Should a Gun Ever be used in Self-Defence?

September 9, 2012
Laura Saunsbury asks this question in her blog.

Retirement Home Group Backs Down On Exit Fees

September 7, 2012
The Telegraph reports that retirement homeowners who face large exit fees when they sell or sublet the property will find their costs cut considerably after the Office of Fair Trading (OFT) forced one of the larger providers to curb its fees. Read the full story here.

Turkey Tycoon’s Children in Will Row with Mistress

September 7, 2012
The wish of Norfolk turkey tycoon Bernard Matthews to leave his £12million Saint Tropez villa to his secret French mistress is thwarted by his children. Both the BBC and the Telegraph report on this story.

Graduates Will Drive the Return of First-Time Buyers

September 7, 2012
According to a study, the first-time buyer share of the housing market could increase over the next year, driven by a wave of university graduates trying to get on the property ladder with their parents’ help. The Telegraph has the full story here.

Global Curbs Loom on Offshore Corporate Tax Avoidance

September 7, 2012
Reuters reports that cash-strapped governments are keen to replenish their coffers, and international bodies such as the OECD are stepping up efforts to claw back revenue lost when companies shift profit overseas to cut their tax bills. Read the full article here.

Sex Register Appeals Introduced

September 7, 2012
The BBC report that convicted sex offenders now have the right to appeal against having to register with the police for life. To read the article click here.

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Legal News Updates from Our Criminal Solicitors: August 2012

The following are some useful legal news updates from August 2012 from our criminal solicitors. Contact us for specialist legal advice or representation on any of these areas.

House Prices in “Surprising Jump”

August 31, 2012

UK house prices jumped by a “surprising” 1.3% in August, according to the Nationwide building society. See the BBC’s article here.

 Squatting Becomes Criminal Act

August 31, 2012

A law making squatting in a residential building a criminal offence comes into force shortly, meaning squatters could face jail or a fine. See the BBC’s coverage of this story here.

Buying a House Tips: Raising a Deposit for a Mortgage

August 31, 2012

Click here to see the article in yesterday’s Telegraph containing a video guide to buying a home. Contact Richard McConnell if you are considering buying a new home.

“Generation Rent” Hopes for an Inheritance to Get on the Housing Ladder

August 31, 2012

The Telegraph has published an interesting article about the hopes of young people today, claiming “Generation rent’s” despair at ever getting on the housing ladder is taking a morbid turn with 42% of tenants claiming that their best hope of raising a deposit and becoming a homeowner is an inheritance. This demonstrates the need to provide fully for all your dependents after death or consider making an intervivos gift. Contact Prue Abrahams

New Offensive by SRA against Alternative Investments to be in Force in Early 2013

August 30, 2012

See Siobhain Egan’s blog here on this subject.

MPs Attack Customs’ Failure to Tackle Alcohol Tax Evasion

August 30, 2012

The Telegraph reports that customs officials have been criticised by MPs for failing to crack down on criminal gangs who dodge alcohol tax at an estimated cost to the Treasury of more than £1bn. Read the article here

How Does HMRC Spot the Tax Evaders?

August 30, 2012

There has been a lot in the news recently about tax non-compliance and there are various shades of grey among the official guidelines. The Telegraph provides some insight into how HMRC collates its data here.

If you are facing a tax investigation of any type, contact Jeffrey Lewis or Siobhain Egan .

EADS Appoints PwC to Investigate £2billion Saudi Deal

August 30, 2012

The Telegraph reports that defence giant EADS has appointed accountants PricewaterhouseCoopers to conduct a parallel investigation to the Serious Fraud Office probe into bribery allegations at its subsidiary GPT Special Projects. Read more here.

CML Says Mortgage Lending Bounced Back in July

August 20, 2012

Total mortgage lending rose in July to the highest level so far this year, but the Council of Mortgage Lenders has warned that the property market was still flat. See the BBC’s coverage here.

Discharge of Sexual Offences Prevention Order

August 20, 2012

Tony Meisels has succeeded in discharging a SOPO made against a client in July 2005.

The sentence imposed by the Magistrates’ Court for the original substantive offence had been a community order and, as such, the client would have ceased to be on the Sex Offenders Register after 5 years. In this case, however, our client had remained subject to the provisions of the Register for a further 2 years as the SOPO was to run until further order. This month those provisions have since become even more onerous than before.

If you have a query about appealing your SOPO, please contact Tony Meisels.

Standard Chartered Faces Fines of Up to $1billion

August 20, 2012

The Telegraph reports that Standard Chartered faces fines totalling as much as $1billion (£637million) before it finally settles accusations that it by-passed US Iranian money-laundering sanctions. Read the full report here.

Another Major Investigation for the SFO

August 20, 2012

Senior executive at EADS, the European aerospace and defence group that owns Airbus, were warned five years ago about questionable payments that are now part of an investigation by the Serious Fraud Office. See coverage of this by the Telegraphhere.

HMRC Send Out Tax Penalties of £1,200

August 20, 2012

Around 500,000 people are being sent notices of penalties of at least £1,200 for failing to submit their self-assessment tax returns. Read the BBC’s article here.

Aggressive Stance from FSA’s New Head of Enforcement and Financial Crime

August 16, 2012

Tracey McDermott warns that soft-touch regulation is over and firms pushing things to the limit should expect no sympathy. See article in yesterday’s Guardianhere.

We are currently advising a number of clients facing such investigations. Contact Jeffrey Lewis or Siobhain Egan.

Standard Charter Fight US Claims of Money Laundering

August 16, 2012

Peter Sands, the chief executive of Standard Chartered, flew to New York on Monday in a last ditch bid to secure a settlement and avoid a public showdown with US regulators over Iranian money laundering charges. Read the article in the Telegraphhere.

Judge Urges People to Confront Elderly Relatives over Driving Skills

August 16, 2012

A judge has urged relatives of elderly drivers to think “very, very carefully” whether they should still be on the road after a 90-year-old retired GP killed another motorist in a head-on collision while on the wrong side of a dual carriageway last week. Read the Telegraph’s coverage here.

Consult any of our motoring law team if you have concerns about yourself or a relative on this issue.

FSA Appoints New Enforcement Chief

August 16, 2012

A new head of FSA enforcement was appointed last week. Read the full information in an article dated 10 August in Legal Weekhere.

Interview with Jeffrey Lewis on Business Crime Defence Published Today!

August 9, 2012

Read the online version here.

Fresh Allegations of Money Laundering for Leading Bank

August 7, 2012

US regulators have accused the British bank, Standard Chartered, of scheming with Iran to launder hundreds of billions of dollars over almost a decade.

Both the BBC and the Guardian have coverage on this story; click here to read the BBC article and here for the Guardian’s piece.

Jeffrey Lewis Interviewed by Lawyer Monthly

August 2, 2012

Jeffrey Lewis has been interviewed by Lawyer Monthly in connection with a feature on Business Crime in the UK. To read the full article please click here and see page 59.

A Defence Lawyer’s Perspective on Cyber Crime

August 1, 2012

Miles Herman has written a fantastic new article for our new Solicitors’ Blog. Read it here.

Murdoch’s News Corp. Directors May Encounter Charges and Prosecution for Neglect of Duties

August 1, 2012

Nick Davies and David Leigh at the Guardian newspaper reported yesterday that lawyers for Rupert Murdoch’s company, News Corporation, have protested against criminal charges amid fears over broadcasting contracts. Read their full article here.

SFO Search Warrants on Tchenguiz Ruled Unlawful by High Court

August 1, 2012

Articles by both the BBC and the Guardian have highlighted the decision yesterday by Judges at the High Court that the Serious Fraud Office provided ‘inadequate and unfair’ information in order to obtain search warrants in their investigations into two high-profile businessmen. Read the full BBC article here and Simon Neville’s article in the Guardian here .

Whistle-blowers on Tax Evasion Paid £1m

August 1, 2012

The Telegraph reported yesterday that more than £1million has been paid out in rewards to tax evasion informants since the start of the financial crisis. Read the full article here.

HSBC Sets Aside $700m for Money-Laundering Fines

August 1, 2012

HSBC has apologised for its ‘shameful’ systems failures that allowed it to launder money for terrorists and drug barons, a report in the Guardian explains. Read the full article here.

Reports of Possible Jail Time for Those Involved In the Libor Rigging Scandal

August 1, 2012

Both the Guardian and the Telegraph have published articles this week on the Libor rigging scandal, focusing on how the FSA and SFO are continuing their investigations and moving closer to bringing criminal charges against those involved. Read Jill Treanor’s article in the Guardianhere, and Banking Correspondent Harry Wilson’s article in the Telegraph here .

The Lengths to Which People Go to Avoid Tax

August 1, 2012

In an article for the BBC News magazine on 26 July 2012, comedian and writer Colm Regan ponders whether the people who have the most to hide are the same as those who have the greatest instinct to hoard, as the amount of tax stored in offshore accounts is reported to be more than the mind can comprehend. Read the full article here.

Extraordinary New HMRC Initiative to Catch Tax Evaders

August 1, 2012

The Telegraph’s Senior Political Correspondent, Christopher Hope, reported on 25 July 2012 that HM Revenue and Customs are set to encourage schoolchildren to tell their teachers if a neighbour is evading tax. Read the full article here.

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Law News Updates from our Criminal Lawyers in London, July 2012

The following are some useful updates from our lawyers at Lewis Nedas Law from July 2012. Contact us for specialist legal advice or representation on any of these areas.

Cash-in-Hand Pay “Morally Wrong”

July 24, 2012

It seems that the Revenue are poised to investigate and prosecute those involved in cash payments to tradesmen. The BBC has reported on this here.

CPS Finally Decide on Phone Hacking Charges

July 24, 2012

The BBC reports that the CPS have decided to charge eight people, including Rebekah Brooks and Andy Coulson, relating to phone hacking. Read the full article here. If you are facing such an enquiry, please contact the real independent experts: Jeffrey Lewis, Siobhain Egan or Keith Wood

HSBC Money Laundering Allegations

July 24, 2012

BBC News reports that the Trade Minister and former HSBC chairman, Lord Green, acknowledges there were problems in how the bank handled allegations of money laundering. Read the full article here. If you are facing allegations of money laundering, please contact the experts: Jeffrey Lewis, Siobhain Egan, Miles Herman, or Keith Wood

Success for FSA prosecution in JP Morgan / UBS Insider Dealing

July 24, 2012

The Telegraph reports that six individuals have been found guilty of insider dealing in the largest and most complex case brought to date by the Financial Services Authority. Read the full article here

If you are facing such an enquiry, please contact the experts:

Jeffrey Lewis, Siobhain Egan, Miles Herman or Keith Wood.

Ministers Plan ‘Swift Justice’

July 16, 2012

An article published by the BBC on Friday reveals ministers’ plan for criminals to be dealt with in days or hours under government proposals for ‘swift and sure justice’ and flexible court hours in England and Wales. Read the full article h

The SFO: The Dawning of a New Era?

July 12, 2012

An article by Frances Gibb published today in The Times comments on the SFO’s new director, David Green, and his plans for the Serious Fraud Office. Read the full article here.

HSBC Chief Admits Bank Failed to Control Money Laundering in US

July 12, 2012

An article in The Guardian (11 July 2012) reports that Stuart Gulliver, chief executive of HSBC, says mistakes were made in trying to stop ‘unacceptable behaviour’. Read the full article here.

SFO Announces Investigation into Alleged Libor Rigging

July 6, 2012

This promises to be a lengthy and complicated investigation.

We are well placed to advise and represent anyone arrested/interviewed as a result of this investigation.

Contact Jeffrey Lewis

Banks Could Face Criminal Probe as SFO Considers Evidence

July 2, 2012

An article in the BBC News Business section on 2 July 2012 details that the Government and the SFO are considering whether or not to bring criminal charges against bankers in light of the recent Libor scandal.

Contact Jeffrey Lewis if you have any concerns about this.

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