Source · Select Committees · Foreign Affairs Committee
Recommendation 10
10
Deferred
The vectors of illicit finance are often companies.
Recommendation
The vectors of illicit finance are often companies. Therefore, the FCDO should work across Government to encourage reform of outdated and ineffective corporate criminal liability laws which mean that it is difficult to hold large companies to account for economic crimes. We will return to this point in our final report. (Paragraph 23) K Sanctions regime: Russia and kraine
Government Response Summary
The Government notes this recommendation and is carefully assessing the options presented by the Law Commission's review of how corporates could be better held to account for committing serious crimes, and continues to work collaboratively with them and other key stakeholders to review and take forward sensible reforms.
Government Response
Deferred
HM Government
Deferred
The Government notes this recommendation and has sought to establish whether there is a case for change. As part of this, it asked the Law Commission to undertake a detailed review of how corporates could be better held to account for committing serious crimes, with a particular focus on economic crime. The Law Commission’s paper was published on 10 June 2022. This is a complex area of reform. The Government is carefully assessing the options presented by the Law Commission, and continues to work collaboratively with them and other key stakeholders to review and take forward sensible reforms.