Bright Line Law News

Latest news & updates from Bright Line Law.

Orphan Structures: Transparency Initiatives and Counter-Initiatives

Speed Read: Paul Beckett discusses orphan structures in various finance centres and outlines the reason why government and regulatory attention should focus on jurisdictions which promote their use.  In a post-2008 Great Recession world of increasingly complex criminality, corruption, doctrinal fanaticism and state terrorism, just as the distinction between...
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Vanessa Reid quoted in STEP

Unexplained Wealth Orders, introduced into the Proceeds of Crime Act 2002 in January 2018, may be enforced extraterritorially. A STEP article, published on 12 April 2018, explores their potential to capture non-EEA Politically Exposed Persons and for UK authorities to seek assistance from Guernsey counterparts. Quoted at length, Vanessa Reid...
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Legal Privilege, Reporting Suspicions, and Retainer Letters

Speed read : In this piece, Jonathan Fisher QC discusses the engagement between legal professional privilege and the obligation to report suspicious conduct under Part 7 of the Proceeds of Crime Act 2002. He suggests that greater attention should be paid to the wording of the client retainer letter....
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Jonathan Fisher QC quoted in the FT

The Treasury Committee has launched an inquiry into money laundering, the FT reported today. Some £90 billion is said to be laundered through the United Kingdom. Asked by the FT for expert comment on the state of the money laundering regime, Jonathan Fisher QC commented on the low rate...
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Probing Dirty Money: Treasury Committee announces AML and Economic Crime Inquiry

Speed read: Anita Clifford puts in to context the Anti Money Laundering and sanctions inquiry announced by the Treasury Committee, a lower house parliamentary committee, on 29 March 2018.  Today (29 March 2018), the Treasury Committee announced a full-scale inquiry into the money laundering regime and the impact of...
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The White Collar Centre