European Union and Exotic: Difference between pages

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(EU).  
1. ''Financial contracts.''


An economic and political union of 28 European member states.
'Exotic' is a description meaning that there are non-standard features in a financial contract.


The current members are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia,  Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.


====Brexit====
2.
A referendum in the UK in June 2016 resulted in a vote to leave the EU.  


====Areas of work===
More broadly, 'exotic' structures and arrangements are any non-standard ones.
The three areas which form the union are:


*The European Community
*Common Foreign and Security Policy
*Police and Judicial co-operation in Criminal Matters


====EU law====
:<span style="color:#4B0082">'''''Corporate criminal liability framework not fit for purpose'''''</span>
The legislature of the EU includes the European Parliament, the Council of the European Union and the European Commission. 


The EU's judicial bodies are the European Court of Justice which includes the General Court and the Court of Auditors.
:"'Another area of concern,' the UK Treasury Committee stressed, 'is company formation, specifically the role of Companies House, which is not required to carry out any AML checks. This makes it a weakness in the UK's system for preventing economic crime.'
 
:Meanwhile, contributors to the Committee's research described the UK's corporate criminal liability framework as 'not fit for purpose'.
 
:Under the current arrangements, the Committee said it is 'typically more difficult to identify which people are the directing mind and will of a larger company than a smaller one, potentially encouraging more exotic management structures to avoid prosecutions'."
 
:''The Treasurer magazine, Cash Management Edition April 2019, p8.''




== See also ==
== See also ==
* [[Brexit]]
* [[Anti money laundering]] (AML)
* [[BUL]]
* [[Companies House]]
* [[CEBR]]
* [[Exotic currencies]]
* [[Direct effect]]
* [[Fit for purpose]]
* [[Directive]]
* [[Plain vanilla]]
* [[euro zone]]
* [[Treasury Committee]]
* [[European Commission]]
 
* [[European Community ]]
[[Category:Accounting,_tax_and_regulation]]
* [[European Economic and Monetary Union]]
[[Category:Manage_risks]]
* [[European Economic Area]]
* [[European Investment Bank]]
* [[European Parliament]]
* [[Official Journal of the European Union]]
* [[Regulation]]

Revision as of 16:49, 25 June 2022

1. Financial contracts.

'Exotic' is a description meaning that there are non-standard features in a financial contract.


2.

More broadly, 'exotic' structures and arrangements are any non-standard ones.


Corporate criminal liability framework not fit for purpose
"'Another area of concern,' the UK Treasury Committee stressed, 'is company formation, specifically the role of Companies House, which is not required to carry out any AML checks. This makes it a weakness in the UK's system for preventing economic crime.'
Meanwhile, contributors to the Committee's research described the UK's corporate criminal liability framework as 'not fit for purpose'.
Under the current arrangements, the Committee said it is 'typically more difficult to identify which people are the directing mind and will of a larger company than a smaller one, potentially encouraging more exotic management structures to avoid prosecutions'."
The Treasurer magazine, Cash Management Edition April 2019, p8.


See also

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