Author Archives: Claire Cross

Claire Cross discusses FCA annual enforcement performance report in GIR

The UK Financial Conduct Authority (FCA) has released its annual enforcement report on 9 which revealed that the number of cases on the watchdog’s books increased from 496 in April 2018 to 650 in March 2019. Partner Claire Cross said: “It is clear FCA enforcement needs to place more pressure on the investigatory accelerator pedal. Leaving individuals […]

The criminal future of AML enforcement

We have also commenced a small number of investigations into firms’ systems and controls where, for the first time, we have indicated to those firms that we are looking at whether there has been any misconduct that might justify a criminal prosecution under the Money Laundering Regulations. I am conscious that starting criminal investigations against […]

Claire Cross speaking at the ABA’s 33rd Annual National Institute on White Collar Crime

Partner Claire Cross is today attending and speaking on a panel session at the ABA’s 33rd Annual National Institute on White Collar Crime. Claire is a panelist for the session on: Foreign Recent Legal Developments of Interest to US Lawyers. Panelists from five different countries will discuss major developments in each of their respective jurisdictions […]

Claire Cross comments on the FCA’s first decision notice against former CEO of Sonali Bank UK in GIR

The former CEO of Sonali Bank UK is contesting an FCA decision to fine him £76,400 for allegedly failing to take reasonable steps to assess and mitigate anti-money laundering risks. The FCA published a decision notice against Mohammed Ataur Rahman Prodhan on 4 December, alleging that the former CEO failed to ensure that sufficient focus was given to the UK subsidiary […]

Claire Cross attending the Annual Bar & Young Bar Conference 2018

Partner Claire Cross is attending and speaking on a panel at the Annual Bar & Young Bar Conference 2018 tomorrow, Saturday 24 November 2018, at the De Vere Grand Connaught Rooms in London. Claire will be speaking during the “Footsteps in fraud law: Your path to success” seminar, discussing insights into career development for junior […]

Claire Cross examines the FCA’s annual report and the SMCR regime in CDR Magazine

In March 2017, the FCA extended the Senior Managers and Certification Regime (SMCR) to include non-executive directors, the regime will now be implemented for solo-regulated firms, those only regulated by the FCA, not those who fall under the remit of both the FCA and the Prudential Regulation Authority (PRA), on 9 December 2019. Claire Cross, a […]

Claire Cross comments on how the FCA could use the SMCR as a tool to tackle sexual harassment in Thomson Reuters Regulatory Intelligence

Regulation is an important incentive for firms to tackle sexual harassment in the financial services industry, and the Senior Managers and Certification Regime (SMCR) is a central part of that strategy, a senior official said. In her recent testimony to the Women and Equalities Committee in the UK Parliament, Megan Butler, director of supervision – […]

Claire Cross attending the European Fraud and Compliance Lawyers Conference 2018

Claire Cross is today, Friday, 8 June 2018, attending the European Fraud and Compliance Lawyers (EFCL) Conference 2018 in Milan, Italy. Topics to be discussed include: Employment laws vs. criminal law; multi-jurisdictions criminal investigations; and data protection and investigations. The EFCL was established in 2016 as a sub-association of the European Criminal Bar Association. The EFCL […]

Claire Cross discusses insider trading in Financier Worldwide

Insider trading appears to be a rampant problem on Wall Street. Individuals at some of the US’ largest financial institutions continue to benefit from non-public information, according to a study by the University of Cambridge and Stanford. The report highlights a number of insiders at major US banks who increased their profits thanks to advanced […]

Corker Binning announces Partner and Of Counsel Promotions

Corker Binning is delighted to announce the promotion of Claire Cross to Partner and Anna Rothwell to Of Counsel. Claire has over 15 years’ experience in complex criminal and regulatory investigations, much of it working for the Financial Conduct Authority and latterly the Competition and Markets Authority. She regularly acts for senior executives in UK […]