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Multinationals at risk

10 November 2017
Issue: 7769 / Categories: Legal News , Bribery , Profession
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The new Criminal Finance Act may place ‘unmanageably onerous obligations’ on multinationals, barristers have warned.

Writing in this week’s NLJ, Nicholas Griffin QC and other practitioners at QEB Hollis Whiteman, note the ‘wide extraterritorial effect’ of the Act, which requires multinationals to foresee and prevent tax evasion risks on a global scale, and imposes criminal as well as regulatory sanctions.

Financial institutions with a branch in London will be ‘immediately liable for the acts of their associated persons on the other side of the world’, they write. ‘While this may have been entirely acceptable in the context of managing bribery risk—most corporates knowing what most forms of bribery look like—the perils are greater in respect of tax due to the considerably greater challenge in instituting, maintaining and enforcing “reasonable procedures” to prevent a spectrum of employee/agent misconduct which can in some quarters be as intricate and wide-ranging as the tax affairs they oversee.’ /p>

Issue: 7769 / Categories: Legal News , Bribery , Profession
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Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

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Writing in NLJ this week, Victoria Rylatt and Robyn Laye of Anthony Gold Solicitors examine recent international relocation cases where allegations of domestic abuse shaped outcomes
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