Partner Brian Swan comments in The Times in relation to how PM Theresa May will tackle white collar crime.
Brian’s comments were published in The Times, 14 July 2016. The full article can be read here.
“Brexit is the challenge that has brought Theresa May to No 10, but as her speech this week revealed, it is not her sole mission.
Among a raft of objectives, she wants to “get tough on irresponsible behaviour in big business”. Her immediate target is overpaid and underachieving directors of big companies, but as we digest the verdicts in last week’s Libor case, the question arises of how the May government will tackle white- collar crime (with all its complexities — as exemplified by revelations this week over George Osborne’s intervention in the HSBC money-laundering case)…
…So where is Brexit in all this? Neill Blundell, fraud and regulatory at Eversheds, says that the UK will still comply with key EU regulations, but Brian Swan, partner at criminal defence firm Stokoe Partnership, suggests that the UK’s departure from the EU could mean that the battle against corruption loses its champion in the key councils of Europe. “British businesses might then lose out to continental companies that are not so closely supervised,” he says. How far Theresa May will factor this into her negotiations remains to be seen.”