MLA meaning

This Checklist should be read alongside Practice Notes: Mutual legal assistance (MLA) and Grounds for refusing assistance by the requested authority... The Letter of Request (LOR) Requests from the UK for mutual legal assistance (MLA) are made through a formal letter of request (LOR). Under the Crime (International Co-operation) Act 2003 (C(IC)A 2003), the UK judicial authorities that may seek assistance are any judge or justice of the peace in England and Wales. A prosecution authority designated by an order of the Secretary of State may likewise request assistance where the conditions in C(IC)A 2003, s 7(5) are fulfilled: it appears to the authority that an offence has been committed there are reasonable grounds for suspecting that an offence has been committed, and the authority has instituted proceedings in respect of the offence in question or the offence is being investigated Issuing authority When considering the LOR itself, ask: Was the LOR issued by a judge...

Duty of candour and requests for mutual legal assistance (R (on the application of MCML Ltd (formerly ED&F Man Capital Markets Ltd) and another v Southwark Crown Court) R (on the application of MCML Ltd (formerly ED&F Man Capital Markets Ltd) and another v Southwark Crown Court [2024] EWHC 861 (Admin) What are the practical implications of this case? This decision refreshes the tests that govern assistance sought from abroad, while underlining the barriers facing practitioners who seek to set aside search warrants granted on such requests. Errors and inaccuracies were contained in material sent by the German and Dutch authorities to HMRC, which HMRC then relied upon when applying for warrants. The judge was not told that the Financial Conduct Authority had ended its investigation into one claimant without further measures... However, the court rejected the claimants’ case that, in the MLA setting, the duty of candour covers facts held by the Requesting Authority, even if those points were unknown to the domestic applicant after making all...

ARCHIVED : This Practice Note is archived and no longer updated, and it will not be revised further or maintained going forward. It formerly outlined the investigative powers of the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) in relation to bribery and corruption offences under the Foreign Corrupt Practices Act 1977 (FCPA 1977), before the Executive Order of February 2025 halting all investigations and prosecutions under the Foreign Corrupt Practices Act (FCPA) and the subsequent publication of revised DOJ guidance for FCPA investigations and enforcement. For more detailed information, consult the DOJ FCPA Guidelines and the following News Analyses: Foreign countries have strong foundation to fill FCPA void DOJ signals major shift in white collar enforcement priorities Feds reboot FCPA agenda with narrower enforcement focus The US Foreign Corrupt Practices Act 1977 (FCPA) forms part of US federal law and prohibits corrupt payments to, or for, foreign public officials. It is the US counterpart to...

Who is investigating? In today’s globalised marketplace, it is routine for several government authorities, spanning numerous jurisdictions, to probe the same behaviour. From the very start of any enquiry, thought should be given to which bodies are already engaged, and which may become engaged later on in future. Public agencies may, and frequently do, run parallel and/or co-ordinated probes with one another, both within and across jurisdictions. Accordingly, Mutual Legal Assistance (MLA) treaties and Memoranda of Understanding equip US and UK enforcement bodies with formal mechanisms to seek co-operation from other nations. For broader guidance on MLA generally, consult the subtopic: Mutual legal assistance—overview...

This glossary sets out many of the expressions commonly used in the leveraged finance market. Words appearing in the definitions in bold are defined elsewhere in this glossary. For further banking terminology, please refer to the main Banking & Finance Glossary... Acquisition finance glossary—A Acceleration Acceleration is the formal action taken by the agent, on the instructions of the majority lenders, following an event of default, such as making a demand for early repayment of the loan. See Practice Note: Accelerating a loan for more information... Accordion feature/accordion facility An accordion, also called an incremental debt feature, is a mechanism in the facilities agreement that, provided specified conditions are satisfied (for example, pro forma compliance with a leverage test), permits those lenders under the facilities agreement who wish to do so to advance additional debt. The terms for that extra debt are typically captured in an increase notice. This accordion or incremental debt flexibility is different from structural adjustment, which usually requires the majority consent...