The Economic Crime (Transparency and Enforcement) Act 2022 (“ECTEA”) was expedited into law as a result of the Russia/Ukraine conflict to “crack down” on overseas entities that are using United Kingdom property to launder money. This article explores the sanctions for non-compliance with ECTEA namely, non-compliance with the requirements for the new Register of Overseas Entities (the “Register”).
Author: Joel Seager, Partner, Fladgate LLP
This article was originally published on the website of Fladgate LLP on September 21, 2022.
Region:
Europe
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United Kingdom
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Global
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