INTRODUCTION The acclamation and social status that are linked to a winning team combined with the investment in clubs with little apparent expectation of a financial return have made the industry attractive to some criminals. The European Commission (Commission)  recognises that sport can be attractive to criminals in order to launder funds due to the […]

Activists and politicians tout beneficial registries as a solution to the perceived abuse of anonymous company ownership. Stephen Baker and Charlie Sorensen of Baker & Partners contend that kleptocratic dictators and sophisticated fraudsters won’t be impeded by such registries. The authors explain how existing civil laws have proven effective in seizing ill-gotten gains. Recent high-profile […]

In a landmark constitutional decision for Jersey, the UK Supreme Court has accepted the arguments of the Attorney General for Jersey as to whether or not the European Union right of free movement of capital applies to movements between the UK and Jersey. The case was heard by the Supreme Court because HMRC appealed the […]

The Bulgarian Parliament is about to pass the Measures Against Money Laundering Act (the “Bill”) mandated by the EU’s 4th Anti-Money Laundering Directive, No. 2015/849 (4th AMLD) of 26 June 2015.  Approved on its first hearing on 6 October 2017, the Bill will repeal and replace existing anti-money laundering legislation. Currently going through its second […]

We are delighted to announce the States Assembly this morning unanimously voted in favour of the draft Data Protection (Jersey) Law 201- and Data Protection Authority (Jersey) Law 201-. The laws are now on track to go to the Privy Council for approval and come into force in line with the EU GDPR timetable. The […]

The UK will be considered a “third country” as soon as it leaves the European Union (EU), which will potentially affect personal data exchanges with the UK, the EC’s consumer directorate has said in a Notice to Stakeholders. In view of the “considerable uncertainties”, particularly concerning the content of a possible withdrawal agreement, the notice said […]

Businesses in the UK — whether B2B or B2C — are racing against the clock to get ready for the General Data Protection Regulation (GDPR), coming into force on May 25, 2018. Even though the UK has opted to leave the EU after GDPR was agreed upon, the rules still apply. In fact, it will […]

The Bank of England will allow European banks to continue operating without creating expensive subsidiaries after Brexit, the BBC reported, the opening gambit in a tussle with the EU over London’s position as a top global financial hub. The BoE’s decision, if confirmed, would mean European banks offering wholesale services would not face new hurdles […]