Regulation of key acts Flashcards
(46 cards)
Who policies the Bribery Act 2010?
The Serious Fraud Office
What are penalties under the Bribery Act 2010?
10 years or unlimited fine
What are the key provisions of the Bribery Act 2010?
Makes it offence to receive a bribe, bribe, bribe a public official or fail to prevent a bribe
Based on 6 principles - proportionality, top level commitment, risk assessment, due diligence, communication, regular review
Who would you speak to at LSH concerning Bribery?
Jasion Honisett
What’s the key legislation regarding money laundering?
Money Laundering, Terrorist Financing and Transfer of Funds 2017
What are the key provisions of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, amended 2019?
Cover estate agency and relevant financial business work
- Requires firms to have appropriate policies and procedures in place, including staff training
- Need to take a risk based approach - CDD and EDD
- CDD on both sides of a transaction, EDD for PEPs
- Estate agents need to register with HMRC is undertaking high value lettings
- Need to have a money laundering officer
What are the penalties under the Money Laundering, Terrorist Financing and Transfer of Funds 2017?
Unlimited fine + 14 years for assisting and 5 years for tipping off
Who would you speak to at LSH regarding AML?
Kevin Maddern
What are the key provisions of the Economic Crime Act 2022?
Aims to increase transparency about who controls overseas entities owning property in the UK
Can’t register the an acquisition on land registry if not registered on the Register of Overseas Entities
Who you speak to regarding Economic Crime Act 2022?
Kevin Maddern
What are the penalties under the Economic Crime Act 2022?
£2,500 per day or 5 years imprisonment
What are the key provisions under the Proceeds of Crime Act 2002?
Aims to reduce use of criminal property based on 3 key areas of offence - concealing criminal property, acquisition or use of criminal property, entering an arrangement that you believe facilitates the use of criminal property
Who policies the Proceeds of Crime Act 2002?
National Crime Agency
What are the penalties under the Proceeds of Crime Act 2002?
Up to 5 years imprisonment
What are the key provisions of the Health & Safety at Work Act 1974?
Duty on employers to ensure employee wellbeing - 4 key provisions-
- Employer duties
- Employee duties
- Inspector obligations
- Enforcement action
What are employer duties under the Health & Safety at Work Act 1974?
- Protecting the health and wellbeing of employees and keeping visitors and contractors safe by
- providing safe equipment,
- safe systems
- policies and training
- risk assessment
What are employee duties under the Health & Safety at Work Act 1974?
- take care of self and colleagues
- avoid taking unnecessary risks
- remain aware of surroundings and actions
What are inspector obligations under the Health & Safety at Work Act 1974?
- Right to inspect and make enquiries
- Right to inspect without an appointment
What are enforcement actions under the Health & Safety at Work Act 1974?
Action can be taken if an employee has been injured, or if a business has been found to be in breach of regulations
Up to 2 years or £20,000 fine
Who policies the Health & Safety at Work Act 1974?
HSE - Health & Safety Executive
Who would you speak to at LSH re H&S?
Christine Robinson - H&S Officer
Penalties under Health & Safety at Work Act 1974?
£20,000/ 2 years imprisonment
Key provisions of the Data Protection Act 2018?
Implements GDPR into UK law
Empowers individuals to access and control personal information held about them
What are the 5 key requirements for firms under the DPA 2018?
- Data controller who controls how and why data is processed
- Data accountability - need to be able to show ICO how they comply
- Report high risk data breaches to ICO within 72 hrs
- Individual rights around access and erasure
- Risk assessmen