Proposals for a new criminal finance bill will, if implemented,
hold company boards criminally responsible for offences such as
money-laundering and false accounting committed by their employees.
This is a move that is being heralded as a "crackdown on
white-collar crime" and would align Britain more with the
US' notoriously tough stance in relation to such crimes.
Currently companies are only responsible for failing to stop
bribery. As evidence of misconduct has to be found at board level
for a company to be found liable it has been easy for boards to
distance themselves from their employees' actions, as evidence
of board level misconduct is often elusive. However, if the
proposals are implemented, boards could find themselves being
prosecuted for failing to prevent economic crimes ̶
essentially they could be held liable for the actions of their
The proposals are still very much in the formative stages and a
consultation period is reported to be commencing shortly. However,
if implemented, these proposals would signal a major change in
corporate criminal law. Companies will need to think about how they
can actively prevent economic crimes, what policies and procedures
they will need to implement to assist in such prevention, and will
need to make changes to any incentive schemes that could be seen to
motivate employees to do the wrong thing.
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Dentons will hold a Competition Breakfast Seminar on February 28, 2017 titled: Rebates and discounts under EU competition law – lessons of the Intel case. Renowned competition lawyer James Venit from Dentons’ Brussels office will be joining co-heads Tihamér Tóth and Tünde Gönczöl of Dentons Budapest’s
You are cordially invited to a practical seminar on private antitrust enforcement in light of the soon to be implemented Damages Directive, which we address to the banking and finance sector. During the seminar we will present new tools designed for cartel damages litigation in light of fast forwarding the legislative process in Poland from a lawyer’s and an economist’s perspective. We will discuss examples of private antitrust litigation from a jurisdiction where the system is already effective and consider whether third party litigation funding is an option in Poland. All these points will help you identify potential claims against other market players and prepare a defense strategy against private enforcement claims targeting your institution.
From March 2 to 14, 2017, the “Invest & Trade in Ukraine ’17 – Transatlantic” conference series will take place in four North American economic centers – Toronto, New York, Houston and San Francisco. A7 CONFERENCES and Dentons are co-organizing the conferences under the patronage of the Ministry of Foreign Affairs of Ukraine.
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Most of us know the difference between being employed and being self-employed (or at least we think we do). And in everyday laymen's terms, the difference is relatively straightforward and obvious – if you are employed, you work for someone else and, if you are self-employed, you ‘work for yourself'.
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