From ACT Wiki
1. Financial contracts.
'Exotic' is a description meaning that there are non-standard features in a financial contract.
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.