The SPACs phenomenon
Featured in our Offshore Report (April 2021)
The big story so far this year, and it’s continuing to expand outside the original US base, is SPACs,’ says Edward Mackereth, Ogier’s global managing partner. There is no doubt that SPACs – an acronym for special purpose acquisition companies – are indeed big news.
Although they have existed for decades on public markets, a tipping point occurred in 2019 when private equity firms began to use SPACs more often, creating an explosion of interest over the past 12 months in this relatively arcane financial instrument. Activity has been high both onshore and offshore.
October 2021 News
Failure and Fault:
What NatWest’s £400m fine tells us about corporate liability for money laundering
John Binns, partner in the Financial Crime team at BCL Solicitors LLP. considers whether NatWest’s guilty plea last week to failures under the UK’s money-laundering regulations – but is it right to call this a ‘failure to prevent’ by the bank?