In the News

London Partner David Kirk Authors Column Analyzing Criminal Finance Bill

September 30, 2016

In a Sept. 22, 2016, column in The Times of London, McGuireWoods London partner David Kirk analyzed new legislation intended to help the UK’s Financial Conduct Authority (FCA) battle financial crime.

Kirk, who was the FCA’s chief criminal counsel before joining McGuireWoods in 2014, wrote that the new Criminal Finance Bill “could bite the agency in the backside — raising expectations, but, once again, with no new convictions forthcoming.”

A member of McGuireWoods’ Government Investigations and White Collar Litigation Practice, Kirk noted in his column that government agencies endure public criticism when fraudsters and financial criminals walk free after long and expensive investigations. The new legislation, he wrote, risks more of that for two reasons: “[I]t is highly dubious whether the proposed offenses can be proved in practice; and the investigations are likely to come to naught unless financial crime law enforcement is adequately staffed and resourced.”

The full text of Kirk’s column, “A bill that could raise expectations but bring no convictions,” is available online to subscribers.