Andrew Reeves (UK)

Firm/Organization: Norton Rose Fulbright

Blogs: Data Protection Report, Financial services: Regulation tomorrow

Latest Articles

First Data Access Agreement under the CLOUD Act signed by UK and US

By Susan Ross (US), David Kessler (US), Andrew Reeves (UK) & Lorenza Cocco (UK) on October 10, 2019

On 3 October 2019, the UK and US governments signed the first bilateral Data Access Agreement (the Agreement) under the US Clarifying Lawful Overseas Use of Data Act 2018 (CLOUD Act) and the UK Crime (Overseas Production Orders) Act 2019. The Agreement seeks to facilitate faster and more direct access by each country’s agencies in criminal matters to electronic information held by companies in the other jurisdiction (and in particular data held by technology companies on…

Financial services: Regulation tomorrow

Data privacy risks in investigations: navigating difficult waters

By David Harris (UK), Andrew Reeves (UK) & Lara White (UK) on October 7, 2019

GDPR[1] together with increasingly stringent data protection legislation in many jurisdictions presents a major headache for companies conducting investigations[2]. There are now significant challenges in lawfully reviewing employee data and doing so requires careful consideration and management of data privacy risks (and documentation of this process). Many organisations do not adequately manage these risks when conducting investigations but failure to do so may create new regulatory issues. Why is this an issue?…

Financial services: Regulation tomorrow

The SFO publishes Cooperation Guidance: expecting too much and offering too little?

By Neil O’May (UK), Andrew Reeves (UK) & Lorenza Cocco (UK) on August 28, 2019

Earlier this month, the UK Serious Fraud Office (SFO) published its Corporate Cooperation Guidance (the Guidance), providing a list of “good practices” it expects from companies seeking to obtain a deferred prosecution agreement (DPA). The Director of the SFO has said that the Guidance would provide “added transparency about what [companies] might expect if they decide to self-report fraud or corruption to my office” (see our previous blogpost). However, the long-awaited Guidance is very…

Financial services: Regulation tomorrow

FCA publishes its Anti-money Laundering Annual Report emphasising the use of ‘dual track’ enforcement

By David Harris (UK), Andrew Reeves (UK) & Sarah Greenwood (UK) on July 18, 2019

On 9 July 2019, the FCA published its Anti-money Laundering (AML) Annual Report for 2018/2019. The report echoes Mark Steward’s comments in a speech earlier this year in relation to the FCA’s increasing focus on criminal investigations for money laundering. The newly published Report states that ‘some’ of the FCA’s current AML investigations are now dual track (i.e. investigations which may result in either criminal or civil proceedings). The FCA describes these dual track…

Financial services: Regulation tomorrow

Court approves first-of-its kind “Group” DPA: five key points

By Neil O’May (UK), Andrew Reeves (UK) & Lorenza Cocco (UK) on July 16, 2019

On 4 July 2019, the UK’s fifth Deferred Prosecution Agreement (DPA) was approved. The DPA is between the Serious Fraud Office (SFO) and Serco Geografix Limited (SGL), a subsidiary of Serco Group PLC, and relates to fraud and false accounting offences. The offences relate to a scheme to dishonestly mislead the Ministry of Justice (MoJ) as to profits being made between 2010 and 2013 by SGL’s parent company, Serco Limited (SL), from its contract for…

Financial services: Regulation tomorrow

High Court’s judgment provides insight on how banks deal with suspicions of money laundering activities

By Andrew Reeves (UK) & Lorenza Cocco (UK) on July 16, 2019

On 8 July 2019, in the case of N v the Royal Bank of Scotland plc, the High Court (the Court) handed down a judgment which provides guidance on how banks respond to alleged money laundering activities. N, an authorised payment institution, issued proceedings for an interim mandatory injunction against the bank after it decided to freeze a number of accounts that N held and to terminate the banking relationship without notice. The decision to…

Financial services: Regulation tomorrow

First-Tier Tax Tribunal held that third party notices have extra-territorial effect

By Dominic Stuttaford (UK), Andrew Reeves (UK) & Lorenza Cocco (UK) on July 1, 2019

The First-Tier Tax Tribunal (FTT) has recently held that HMRC can issue third party information notices to non-UK residents under paragraph 2 of Schedule 36 to the Finance Act 2008 (Schedule 36). The FTT in Mr and Mrs PQ v HMRC[1] held that the residency status of individuals will not in itself determine HMRC’s ability to issue third party notices if there is a “sufficient connection” between the required information and its intended recipient.…

Financial services: Regulation tomorrow

UK Law Commission calls for money laundering guidance in relation to transactions involving the legal cannabis industry

By Katie Stephen (UK), Claire O'Donnell (UK) & Andrew Reeves (UK) on June 18, 2019

The Law Commission has today published its report on the SARs regime following its consultation paper. Amongst wide-ranging recommendations to improve the regime, it has recommended that the government consider the need for guidance in relation to transactions involving the legal cannabis industry in Canada and elsewhere. Such guidance would certainly be useful to the many financial institutions, corporates and individuals trying to grapple with the difficult money laundering and other legal issues that…

Financial services: Regulation tomorrow

UK Supreme Court grants KBR Inc. leave to appeal against controversial decision on extraterritorial effect of Section 2 Notices

By Neil O’May (UK), Andrew Reeves (UK), Chloe Fryer & Thomas Hubbard (UK) on May 30, 2019

On 8 April 2019, the UK Supreme Court granted KBR Inc. leave to appeal against a decision that allows the SFO to compel certain foreign companies to hand over documents held overseas. The Supreme Court’s decision was published on 23 May 2019 (see here). KBR Inc. is appealing the judgment in R (on the application of KBR Inc) v The Director of the Serious Fraud Office [2018] EWHC 2012 (Admin) (KBR v SFO), in…

Financial services: Regulation tomorrow

HMRC information notice held to have extraterritorial effect

By Dominic Stuttaford (UK) & Andrew Reeves (UK) on May 9, 2019

In the recent case of Jimenez, the Court of Appeal held that HMRC has the power to send an information notice to a UK national and former UK resident who was at the time of sending the notice living in Dubai. This is part of a recent trend for English courts to support UK authorities’ assertion of extraterritorial information-gathering powers by applying a purposive and contextual interpretation to legislation granting those powers. Case background HMRC…

Andrew Reeves (UK)

First Data Access Agreement under the CLOUD Act signed by UK and US

Data privacy risks in investigations: navigating difficult waters

The SFO publishes Cooperation Guidance: expecting too much and offering too little?

FCA publishes its Anti-money Laundering Annual Report emphasising the use of ‘dual track’ enforcement

Court approves first-of-its kind “Group” DPA: five key points

High Court’s judgment provides insight on how banks deal with suspicions of money laundering activities

First-Tier Tax Tribunal held that third party notices have extra-territorial effect

UK Law Commission calls for money laundering guidance in relation to transactions involving the legal cannabis industry

UK Supreme Court grants KBR Inc. leave to appeal against controversial decision on extraterritorial effect of Section 2 Notices

HMRC information notice held to have extraterritorial effect

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