Partner Claire Cross has been quoted by Bloomberg and Reuters on the news that NatWest is facing criminal action from the FCA over allegations it failed to detect money laundering activity.
Cross said the news “will cause shockwaves across the financial community” because it involved a well-known high street bank and as it’s the first FCA prosecution under the MLR. “It also sets an important precedent”, she added. “No one is too big to escape the FCA’s criminal net” She said that in pursuing NatWest, Mark Steward “has set an important precedent that he is not afraid to pursue big players in the financial industry”.
Does an accused have the right to know what materials they will be cross examined with prior to trial?
September 27 2022
Nick Barnard comments on the regulation of stablecoins in Law 360
September 20 2022
David Corker comments on televised sentencing in The Times
September 1 2022