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What measures are in place to combat international criminal organisations and seize criminal assets across borders? The UK Government’s Economic Plan (2023-2026) delves into their commitment to target asset recovery. This is very timely given the recent introduction of Interpol’s Silver Notices, created with the promise of becoming a new and efficient mechanism to trace assets across borders. This article explores the newly introduced Silver Notices and compares them to the existing pathways available in the UK for cross-border recovery. We turn first to explore the existing legal framework.
Registering one’s trade marks delivers significant business benefits for brand owners. A registration provides a “monopoly” for your particular mark in respect of the goods and services for which it is registered.
In England and Wales, the vast majority of incorporated businesses are private companies limited by shares or limited liability partnerships (LLPs). These structures are favoured in the UK as both LLPs and limited companies shelter the personal assets of their members (partners in an LLP, shareholders in a limited company) in the event of a liability of the entity itself. However, there are still a number of personal risks associated with the operation of these businesses.
One area of uncertainty has always been the extent to which an annual bonus (whether for individual or company performance or a combination of factors) should be included in the holiday pay calculation.
The Financial Conduct Authority (FCA) plays a crucial role in overseeing the UK’s financial services industry, ensuring that firms adhere to regulations designed to prevent financial crime, including money laundering. Money Laundering Reporting Officers (MLROs) are pivotal in this framework, responsible for detecting and reporting suspicious activity to safeguard against money laundering.
The inaugural Silver Notice, requested by Italy in relation to assets belonging to a senior member of the mafia, was welcomed by INTERPOL General Secretary, Valdeny Urquiza, who laid bare the scale of the challenge when commenting that “… 99 per cent of criminal assets remain unrecovered.”
At first blush, it might be considered that this case marks a new dawn for enforcement authorities demonstrating their willingness to seek high value recovery orders and to pursue aggressive litigation tactics, including applications for summary judgement; however, it seems more likely that the DPP was encouraged and indeed emboldened by the exceptional factual matrix and the Defendant’s litigation conduct.
The Supreme Court’s recent judgment in SkyKick v Sky found that the Court of Appeal were wrong to overturn the High Court’s decision that Sky had acted in bad faith when registering some of their broad trade mark registrations in relation to the specifications.
The Court found that the funds and cryptocurrency held by the Tate brothers are the proceeds of a deliberate and dishonest cheat of the revenue (HMRC).
On appeal, Prada argued that its triangle mark had been used in a commercially meaningful way across the contested product categories. The company presented a wealth of evidence to substantiate its claims.
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