U.K. to Reform Corporate Criminal Liability Related to Economic Crimes

The U.K. government announced on June 15, 2023, that it would seek to reform corporate criminal liability with the Economic Crime and Corporate Transparency Bill. Affecting the identification doctrine, this would mean criminal liability could be attributed to corporate entities based on the actions of senior managers in the course of their jobs. Liability, based on those people’s actions, would thus be attached to their employing entity for the purposes of a comprehensive list of economic crimes, including fraud, bribery and money laundering. The Anti-Corruption Report gained insights from Hayley Ichilcik, a partner at Morrison Foerster who heads the firm’s European compliance practice, and Lloyd Firth, counsel at Wilmer Hale. See “Broadening Corporate Criminal Liability in England and Wales” (Jul. 21, 2021).

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