BCL partner, John Binns was quoted in a Law360 article titled “UK Economic Crime Plan Prompts Worries About Banks’ Role” where he discusses the possibility of including banks in financial crime policy-making.
Here’s a quote from the article*:
Law360, London (July 15, 2019, 6:52 PM BST) — The British government’s plan to give some of the country’s biggest banks a prominent rolse in its latest strategy to stamp out economic crime has raised questions of a potential conflict of interest.
That has prompted questions about how much influence the industry should have inshaping its own regulation. “It makes me very queasy,” said John Binns, a partner at BCL Solicitors. “Why is it uncontroversial to allow banks to help make financial crime policy? That is something that we should query.”
*This article was originally published by LAW360 on July 15th 2019. You can view the full article by logging into their website.
John Binns is a partner at BCL specialising in all aspects of business crime, with a particular interest in confiscation, civil recovery and money laundering under the Proceeds of Crime Act 2002 (“POCA”). His business crime experience includes representing suspects, defendants and witnesses in cases invoking allegations of bribery and corruption, fraud (including carbon credits, carousel/MTIC, land-banking, Ponzi and pyramid scheme frauds), insider trading, market abuse, price-fixing, sanctions-busting, and tax evasion. He has coordinated and undertaken corporate investigations and defended in cases brought by BEIS, the FCA, HMRC, NCA, OFT, SFO and others.