October 16, 2024
The UK’s Economic Crime and Corporate Transparency Act (ECCTA) represents a significant regulatory shift, holding businesses accountable for preventing fraud across their operations, including their third-party networks.
With no statutory defence for a “failure to prevent fraud,” organisations are now required to demonstrate comprehensive fraud prevention measures. Senior management is under increased scrutiny, tasked with proactively managing fraud risks, and facing the potential for prosecution. The repercussions are serious, ranging from unlimited fines and reputational damage to heightened regulatory oversight. Strengthening fraud risk management frameworks is now imperative to meet these enhanced regulatory obligations.
In this series of articles for Governance & Compliance magazine, Secretariat Managing Director Hitesh Patel and Director Ben Boorer explore the extensive reach and practical implications of the ECCTA, providing insights into how businesses can effectively navigate the challenges imposed by the Act.
Read the full articles (subscription may be required):
Failure to prevent fraud – what you don’t know could hurt you
Secretariat Secures No. 1 Spot on Lexology Index’s Arbitration 2025 Report
We are proud to announce that Secretariat has earned the position of No. 1, top-ranked Consulting Expert Firm in the Lexology Index Arbitration 2025 report. The report features firms and experts who have distinguished themselves as industry leaders based on their independence, sharp testifying skills, clear communications, and meticulous analytical insights.
Eric Poer, CPA, a globally recognized securities, accounting, valuation, and regulatory enforcement expert, was retained by Orrick, Herrington, and Sutcliffe LLP to provide expert and summary witness testimony in defense of Apple Inc., CEO Timothy Cook, and CFO Luca Maestri in a high-stakes securities class action dispute.
Neil Gaudion provided an expert report and testimony on behalf of Five Star Resort Owner, LLC, in construction dispute litigation surrounding a $2 billion Ritz-Carlton Hotel development. The jury awarded $2 million, plus interest, an amount determined from Mr. Gaudion’s testimony.