UK: The Economic Crime and Corporate Transparency Act 2023 — A Questionable Christmas Present | The D&O Diary

On 26th December 2023, the attribution rules relating to corporate criminal responsibility for economic crimes were extended to senior managers under The Economic Crime and Corporate Transparency Act 2023 (ECTA). So, who are senior managers for this purpose, and should they be worried? ECTA also introduces a new corporate offence of failure to prevent fraud which will come into force when the Government publishes relevant guidance (expected early 2024). What are the implications of this for companies and their employees?

Source: UK: The Economic Crime and Corporate Transparency Act 2023 — A Questionable Christmas Present | The D&O Diary