News

Britain's House of Commons in a series of late-night votes Monday rejected or significantly watered down proposed amendments to the Economic Crime and Corporate Transparency Bill that received cross-party support in the House of Lords in June. By a vote of 291 - 209, MPs threw out a proposed new corporate offense of failure to prevent money laundering, which would have given prosecutors more latitude to pursue criminal charges against banks, money services businesses, law firms and other companies suspected of handling illicit proceeds. Kevin Hollinrake, the U.K. undersecretary of state for enterprise and markets, told MPs that the government...