Kevin LaCroix (LexBlog United Kingdom)

27 results for Kevin LaCroix (LexBlog United Kingdom)

  • Guest Post: The Economic Crime and Corporate Transparency Act 2023: A Questionable Christmas Present

    Portions of the U.K. Economic Crime and Corporate Transparency Act 2023 went into effect just after Christmas 2023. Who are the senior manager that the Act affects and how worried should they be? These are the questions Francis Kean, Partner in Financial Lines Team at McGill and Partners, asks in the following guest post. A...

  • Video: Navigating Corporate Scandals

    Readers may recall that in a recent guest post, Francis Kean of McGill & Partners discussed the developments in the UK insolvency proceedings involving the former British multinational construction firm, Carillion plc. A recent interesting video created by the London-based insurer Rising Edge examines what happened with Carillion as well as the exposures and risks...

  • Guest Post: Carillion Directors’ Disqualification Proceedings: A Cautionary Tale for All Non-Executive Directors

    In the following guest post, Francis Kean, Partner in Financial Lines Team at McGill and Partners, reviews the developments surrounding the proceedings brought against the non-executive directors of Carillion plc and considers their implications. This article was first published online on 16th October 2023 by The Chartered Governance Institute for UK and Ireland. I would...

  • Guest Post: Client Earth Claim Against the Board of Shell: A Sign of Things to Come in the UK?

    In a recent post, I discussed the lawsuit filed in a UK court by the environmental advocacy group ClientEarth against the board of Shell. In the following guest post, Francis Kean, Partner in Financial Lines Team at McGill and Partners, dives deeper into the legal context of the lawsuit and its insurance implications. I would...

  • Guest Post: COVID-19 and the Impact on UK Corporate Insolvencies

    The global COVID-19 pandemic is now into its third year and it continues to affect the economy and the business environment. The following guest post takes a look at the pandemic’s continuing impact and reviews the possibility that the ongoing effects could increase the number of corporate insolvencies in the UK. This paper was written...

  • Guest Post: COVID-19 and the Impact on UK Corporate Insolvencies

    The global COVID-19 pandemic is now into its third year and it continues to affect the economy and the business environment. The following guest post takes a look at the pandemic’s continuing impact and reviews the possibility that the ongoing effects could increase the number of corporate insolvencies in the UK. This paper was written...

  • SEC Ramps Up Its Cyber-Security Enforcement in Pearson Matter

    As I discussed in a post at the time (here), in August 2021 the SEC brought an cybersecurity-related disclosure enforcement action against UK educational publishing firm Pearson plc. In the following guest post, Paul Ferrillo, Daphne Morduchowitz and James Billings-Kang take a detailed look at the Pearson enforcement action and discuss the action’s implications. Paul...

  • Guest Post: UK Sarbanes Oxley?

    In a March 2021 paper entitled “Restoring trust in audit and corporate governance” (here), the UK government set out a number of proposed reforms in order to try to increase trust in corporate governance, including, among other things, proposed new company reporting requirements. In the following guest post, Andrew Milne discusses the potential implications for...

  • Guest Post: New Pensions Risks for UK Directors

    In the following guest post, Tristan Hall, Andrew Milne, and Emma Boulding of the CMS Cameron McKenna Nabarro Olswang LLP law firm take a look at the new UK Pension Schemes Act, and in particular review the Act’s liability provisions and D&O insurance implications. I would like to thank the authors for allowing me to...

  • Guest Post: The New UK Insolvency Act Exposes a Gap in Cover for D&O Insurance

    In the following guest post, Francis Kean takes a look at the new UK Corporate Insolvency and Governance Act and the Act’s potential implications for D&O insurance coverage. Francis is a Partner, Financial Lines, at McGill and Partners. A version of this article previously was published as a McGill client alert. I would like to...

  • Guest Post: Fraud Act Prosecution of Directors: How Likely and What Are The D&O Implications

    In the following guest post, Francis Kean takes a look at the possibilities for director prosecutions under the UK Fraud Act and explores the possible D&O insurance implications of future prosecutions. Francis is a Partner, Financial Lines, at McGill and Partners. A version of this article previously was published as a McGill client alert. I...

  • Guest Post: Data Breach Class Actions in the UK — What Next?

    Data breach class action lawsuits are already well-established in the United States, but are only developing elsewhere. In the following guest post, Stephen Reilly and Andrew Jones of Beale & Company Solicitors take a look at the possibilities and prospects for data breach class actions in the U.K. A version of this article previously was...

  • Guest Post: UK’s Wrongful Trading Laws Suspended: Good News for Company Directors?

    One of the questions for companies facing financial difficulties both in the U.S. and in the UK is the extent to which the boards of the companies owe duties to creditors to try to avoid creditors’ losses as the companies approach insolvency. I discussed the state of the law in Delaware regarding these issues in...

  • Guest Post: Landmark UK Legal Statement Provides Clarity for Smart Contracts and Cryptoassets

    In the following guest post, Karen Boto, Legal Director at Clyde & Co, takes a look at the Legal Statement recently published by the UK Jurisdictions Taskforce addressing a number of legal issues cryptocurrencies and smart contracts. A version of this article previously was published as a Clyde & Co client alert. I would like...

  • Are We Entering a New Class Actions Era in the UK?

    Class actions are of course well-established in the United States, but class action litigation has never been as well-developed in the UK. Among a number of reasons for this arguably is the lack of an “opt-out” class action procedure in the UK. However, as detailed in an interesting July 2019 memo by Colin Hutton of...

  • Guest Post: The Truth about Directors’ Duties in the UK and the Business Judgment Rule

    In the following guest post, Francis Kean, Executive Director FINEX Willis Towers Watson, reviews some interesting recent historical academic research on directors’ duties and the business judgment rule in the U.K.  A version of this article previously was published on the Willis Towers Watson Wire blog (here). I would like to thank Francis for allowing...

  • Brexit Uncertainty, Disclosure Concerns, and Potential Liability

    If the uncertainty creates risk, then the current state of play on the United Kingdom’s efforts to withdraw from the European Union represents risk in a highly concentrated form. On November 25, 2018, the 27 EU members approved the divorce pact that the U.K. negotiated with its EU counterparts, but the pact must now face...

  • Guest Post: Stronger UK Pensions Regulator: Risks for Directors and Officers

    In the following guest post, Tristan Hall, Andrew Milne, and Emma Boulding of the CMS Cameron McKenna Nabarro Olswang LLP law firm take a look at the increased risks to directors and officers in the U.K. for non-compliance with employer pension schemes, as well as the implications of those increased risks for D&O insurance purposes....

  • Guest Post: Criminal Finances Act 2017: The Broadening of Corporate Accountability

    The UK Criminal Finances Act 2017 will go into effect on September 30, 2017. This new law will make corporate organizations criminally liable for the failure to prevent tax evasion by an “associated person.” In the following guest post, Mark Sutton and Karen Boto take a look at the Act and its provisions and examine...

  • Guest Post: U.S. Parent Company Enters U.K.-Style Deferred Prosecution Agreement for Bribery

    Deferred prosecution agreements have long been a part of the U.S. criminal enforcement environment, but they are relatively new in the United Kingdom. In addition, as the U.K. has begun to adopt the use of deferred prosecution agreements, it has adopted the agreements to its own system and legal requirements. In the following guest post,...

  • What Does the Brexit Vote Mean for the Insurance Industry?

    The historic June 23, 2016 vote by a majority of voters for the United Kingdom to leave the European Union has dominated the headlines and roiled financial markets around the world – and for good reason. The U.K.’s withdrawal from the E.U. will have an enormous impact on the U.K itself, on the E.U., and...

  • Another Accounting Scandal-Related Securities Suit

    Earlier this week I wrote about the accounting scandal that has hit the UK-based grocer, Tesco, and the securities class action lawsuit against the company that followed in its wake. Now another company has reported accounting irregularities – and the company involved has also been hit with a securities class action lawsuit.   On October...

  • The Travel Issue: Edinburgh Edition

    The D&O Diary is on assignment in the United Kingdom this week, with the first stop in the venerable city of Edinburgh, for meetings and an event. Due to flight delays, cancellations and missed connections, my visit to Scotland’s capital city was cut short by a day, which compressed both my meetings and my opportunity...

  • Guest Post: The Director Risks Posed by a UK Subsidiary

    Because I am based in the United States and because my experience has been concentrated in the U.S., my focus in this blog has primarily been on issues and developments in the U.S. — although I do enjoy the occasional opportunity to write about developments elsewhere. Because I know that many of this blog’s readers...

  • Whistleblower Bounties: A Good Idea? UK Regulators Say No

    When Congress passed the Dodd-Frank Act four years ago, one of the legislation’s signature features was the creation of potentially massive bounties for whistleblowers that reported financial fraud to the SEC. The possibility of recovering a bounty, which could range from ten to thirty percent of recoveries over $1 million, seems to have encouraged whistleblowers...

  • UK Ministry Proposes Expanding Director Liability.

    As part of its scheme to improve corporate transparency and director accountability, a UK government ministry has proposed what UK Business Secretary Vince Cable calls “tough measures” to “give the public greater confidence that irresponsible directors will face consequences for their actions.” These proposals, if adopted, could significantly increase UK corporate directors’ liability exposures...

  • Law Firm Memo Roundup

    My weekend reading over the Memorial Day holiday included a hefty selection from the stack of law firm memos that accumulated in my inbox in recent weeks. Many of the most recent memos related to the Senate’s passage of its version of the financial reform legislation, but the memos also reflected a variety of other...

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