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Lucy Trott

Senior knowledge lawyer
Lucy Trott is a senior knowledge lawyer in the Stevens & Bolton LLP finance, restructuring and insolvency department. Email: matthew.padian@stevens-bolton.com and lucy.trott@stevens-bolton.com

Articles by author

The impact of the new Economic Crime Act on loan documentation

The Economic Crime (Transparency and Enforcement) Act 2022 (the Act) implements the highly anticipated register of beneficial ownership of UK property, forcing overseas entities to disclose details of beneficial ownership in order to transact with UK property. It is designed to improve the transparency of foreign ownership of UK property and clamp down on economic crime. However, the new regime is not faultless, and the new register is at risk of exploitation in certain areas. In this article, we consider key aspects of the Act, the new register, and issues for lenders ahead of the implementation of the new regime.

1 JUN 2022