Governance & Compliance episode 4: Risks escalate for corporate criminal liability

The past 18 months have seen major changes to the corporate criminal landscape in the UK and, with enforcement ramping up, companies need to act. In this episode, we recap the main changes, highlight some pressing compliance deadlines, and suggest how companies might best respond. In the latest episode of our UK Governance & Compliance mini-series, our expert team reflects on the fast-evolving corporate criminal landscape in the UK, and what companies need to do about it. Together, Ashurst colleagues Will Chalk, Ruby Hamid and Neil Donovan consider recent leadership changes in the UK’s enforcement authorities and the difference that will make in practice. As Ruby points out: “For companies, that means greater risk of conduct being identified, investigated and enforced.” The trio discuss updated guidance for companies that self-report and cooperate with investigations into corporate fraud and the impact of the Economic Crime and Transparency Act which brings in a new criminal offence of failing to prevent fraud as well as expanding the scope of those who can expose companies to criminal liability. With the landscape in such flux, this episode offers some timely analysis of companies’ risk exposure, and underlines the importance of culture, escalation and communication channels for employees to report concerns. Our experts also share the latest issues regarding supply chain risk. To listen and to subscribe for future episodes in our governance mini-series, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or your favourite podcast player. To stay up to date with these unfolding issues, you can read Ashurst's latest Governance and Compliance Update. The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.See omnystudio.com/listener for privacy information.