The previous edition of our Economic Sanctions Summit took place on 31st January 2023, and was held against the backdrop of the Government’s imposition of sanctions against Russian oligarchs and other entities whose association with Putin was potentially helping to fund the conflict in Ukraine. The key issue that was addressed was the Economic Crime Act which introduced measures to identify the beneficial owners behind foreign property owners, through the Register of Overseas Entities which went live on 1 August. It also looked at the use of London as a “laundromat” for criminals to launder money through the acquisition of property and how the National Crime Agency can combat this in the future.

The FCA Investigations and Enforcement Summit, which took place on the 1st June 2023, was a highly regarded annual event addressing the latest developments in the FCA’s enforcement agenda. This event covered a number of new issues which have an impact on the risk of an investigation or enforcement action. This included the rise in online scams, cyber frauds and crypto risks including the risk to consumers and the risk of crypto being used for money-laundering, evading sanctions or other illicit purposes. With the cost of living crisis placing pressure on consumers, the focus was also on consumer conduct and recent enforcement action in relation to customer communications and vulnerable customers. At a wholesale level it also covered some of the recent market abuse cases and related risks. The Summit also provided guidance on managing the practicalities of an investigation including dealing with internal investigations, the scope and remit of the FCA’s powers, preserving and analysing evidence and dealing with the international dimension in cross-border investigations.