Author: Zulfi Meerza 22 September 2022
The government unveiling its second economic crime bill of the year led Law360 to ask Zulfi Meerza for his thoughts on the proposed legislation.
The Economic Crime and Corporate Transparency Bill will give Companies House new powers to combat money laundering and will extend the Serious Fraud Office’s (SFO) Section 2A powers to compel individuals or banks to share information.
Zulfi said that the Bill aims to root out criminal activity without placing extra burdens on companies. But he warned that it remains to be seen whether the reforms will put undue obligations on already compliant companies.
He explained that the broadening of the Companies House registrar's powers and more effective investigation powers could lead to an increase in investigations by Companies House, and to subsequent enforcement action if information is shared with law enforcement agencies.
Zulfi, a former SFO investigative lawyer, said the agency may benefit from the extension of its Section 2A powers, which could help its director assess whether to formally commence an investigation.
To read Zulfi's comments visit Law360. (Subscription required)
Senior Associate Solicitor
Zulfi’s in-depth expertise in corporate crime investigations, serious regulatory matters and complex commercial litigation makes him a logical choice to represent corporates, board members, senior business figures and high net worth individuals.