MP Vows To Keep Pushing Tougher Economic Crime Law

Law360, London (January 14, 2021, 9:56 PM GMT) -- The lawmaker behind plans to widen corporate criminal liability vowed Thursday to keep pushing new rules to toughen penalties for economic crime, after lawmakers dropped an amendment to criminalize failing to prevent economic crime amid an expected lack of support in Parliament.

Lawmakers had been due to vote Wednesday evening on whether to insert a clause into the Financial Services Bill that would introduce a criminal offense of failure to prevent economic crime such as fraud, money laundering and false accounting.

A decision was taken not to put the amendment supported by Labour MP Margaret Hodge to a vote "due to...

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