Assignment on Financial Crime Law

Added on - Nov 2020

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FinancialCrime Law
Table of ContentsREPORT..........................................................................................................................................6INTRODUCUTION........................................................................................................................6TASK 1............................................................................................................................................7Identification of insider dealing and market abuse that damages the interest of ordinary market.....................................................................................................................................................71.1Civil offences according to Financial services markets Act, 2000 and identification ofthe sources of law on insider trading...........................................................................................71.2 Comparison of statutory framework and EC context over insider trading and market abuse.....................................................................................................................................................71.3 Purpose of law on insider trading and penalties imposition on market abuse.......................81.4 regulations over market abuse and powers of regulators to act decisively against insiderdealing and related frauds............................................................................................................8TASK 2............................................................................................................................................9Identification of laws related with market manipulation and abusive practices as interferencewith free and fair operation of market.........................................................................................92.1 Defining fraud and criminal laws development in this context.............................................92.2 Gain and loss as per the Fraud Act......................................................................................102.3 Market abuse as per Financial service and markets Act, 2000 with economic as well ashistoric context of law...............................................................................................................102.4 Market manipulation offence in the criminal laws and penalties there on..........................112.5 Offences under the Fraud act and theft act..........................................................................11TASK 3..........................................................................................................................................12Identifications of compliance obligations under money laundering regulations for business andtheir international dimensions....................................................................................................124
3.1 Primary legislation related with money laundering and purpose of money launderingregulations..................................................................................................................................123.2 Application of money laundering regulations and categories the person liable forimplementation of these regulations..........................................................................................123.3 Proceeds of Crime act 2002 and offences under it provisions.............................................133.4 Defining money laundering in Terrorism act 2000 and offences under the act..................133.5 Civil recovery in context of money laundering...................................................................13TASK 4..........................................................................................................................................14Gaining knowledge about the nature of law on financial crime................................................144.1 Sources and objective of financial crime.............................................................................144.2 Historic and economic context of general provision of law on money laundering, terrorist,financing and corruption............................................................................................................154.3 Role of information, investigation and transparency in law of financial crime..................154.4 Identification of EC market abuse to control market manipulation and abusive practices.154.5 Role of criminal law in supporting financial regulation in UK...........................................154.6 Analysis of civil recovery in context of financial crimes....................................................16CONCLUSION..............................................................................................................................165
REPORTFinancial crime Unit, XYZ LtdTo, whom so ever it may concernDate:Subject:Presenting the details related to laws relating to the Financial crimes for meeting theregulatory and legislative requirement.From:Legal compliance consultant of XYZ Ltd.INTRODUCUTIONThe financial services laws are related with compliance with various laws, legislationsand regulations made over the recording the financial transition and flow of the business financein legal direction. The funds and cash flows generated from the business operations are requiredto invest back in the business or to be utilized in certain ways which are legal. Some of thepractices which are rendered to be unethical and illegal under the financial services law arefrauds, corruption, money laundering, terrorism, theft for which the money is used for wrongfulpurposes. In the present report the legal compliances related with financial transaction isoutlined. This includes presentations of the laws relating to financial crimes to meet thelegislative and regulative requirement. In the regards the concept of insider trading is explainedwith its statutory framework described in Financial service ad Markets Act 2000. The lawsrelated with market manipulations are identified along with the abusive practices which interferewith free and fair operations of the marker. The laws which will be considered are Fraud act, andthe one mentioned above. The compliance required to meet the obligation of money launderingregulations are presented with perspective of Proceeds of crime act and Terrorism act. For thelast section of this report the knowledge over the nature of law over the financial crime isdescribed.6
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