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Sarah defends financial crime, fraud and regulatory investigations, with particular experience of defending large and complex criminal or regulatory investigations or prosecutions by bodies such as:
In relation to FCA Enforcement investigations, she advises individuals and firms at risk of or under FCA Enforcement investigations, whether criminal, civil or regulatory investigations, for alleged misconduct, rule breaches or criminal offences (eg insider dealing, misleading statements, market abuse or 'boiler rooms'). Sarah was seconded to the FCA's Enforcement Division in 04/05 and represented a senior executive in the first-ever acquittal in an FCA prosecution for insider dealing.
Her practice includes defending restraint, confiscation, asset recovery and other proceeds of crime proceedings, company director disqualification and professional discipline matters (in particular FCA and SRA fitness to practice). Sarah also advises on 'general crime' and motoring matters.
Sarah Wallace is "one of the best and hardest-working litigators around" - Legal 500 2016
The "commercially savvy" Sarah Wallace is described as "extremely diligent and hard-working". Sources go on to praise her depth of experience dealing with regulators such as the FSA and FCA. - Chambers & Partners 2016
"One of the most dogged solicitors I know. She's someone who will never leave a stone unturned - she has a remarkable attention to detail." - Chambers & Partners 2015
Described as a "tenacious" and "diligent" lawyer, who is "committed to her cases" and provides "very good client care." - Chambers & Partners 2014
The "pragmatic" Sarah Wallace "fights tooth and nail for her clients". She is also noted for being "very hardworking" and "increasingly very active in the financial services field" - Legal 500 2015
Sarah Wallace displays "excellent judgement" and has earned the reputation as a "fearsome opponent". She is "tenacious in pursuing the interests of her clients whilst giving realistic advice." - Legal 500 2014
Sarah Wallace "has really moved ahead" and "built up the FSA side of practice there," according to one market observer - Chambers & Partners 2013
"Brings a wealth of experience across the supervisory, investigatory and enforcement areas" - Legal 500 2013
Sarah Wallace produces work of the "highest quality" - Legal 500 2012
Interesting work, no day is the same, meeting different and interesting people from varied backgrounds, finding practical and cost effective solutions for clients who may be facing difficult or challenging times in their personal or work life.
Working out different angles to represent and defend our clients' best interests. Being involved in what can be cutting edge litigation that makes new law. Most importantly though, clients being happy and satisfied with the outcome of our work.
IM is a friendly, modern, entrepreneurial and forward thinking law firm with like minded motivated people who work hard and passionately for our clients.
In the winter I like skiing and ski touring, and in the summer mountain walking and a bit of climbing.
“If the SFO were smarting from the broker acquittals in the second Libor trial, they will feel vindicated and emboldened by these verdicts - as well as a little relieved, as the jury deliberated for some time.
“Whether it signals further UK Libor prosecutions remains to be seen, although after the forthcoming Euribor trial the SFO may decide to draw a line underneath benchmarks.
“There is also a certain irony in that fact that those convicted may well have fared better had they been dealt with in the United States.
“Historically there has been questions raised about the effectiveness of the SFO and we have previously voiced our opinion on the required changes in legislation. However, I doubt that any politician, least of all Theresa May, will have the future of the office on their mind at the moment.
“If the new corporate criminal liability offences currently under Government consultation make it into our law then the SFO could be busy. Assuming of course that their prosecution budget is not reduced through any post Brexit public spending cuts.”
If a business trades only in the UK, the issue is less clear as the UK Government may choose to include equivalent legislation anyway. It is generally accepted that the data protection laws are out-dated and I suspect that data protection will not stay the same for long, even though we are leaving the EU. In other words, there will be some reform. We just don’t know what it will look like.
"The Neighbourhood Planning and Infrastructure Bill contains some useful provisions. At the micro level, councils currently make excessive use of pre-commencement conditions, often in circumstances where they are unnecessary. We regularly see consents with more than a dozen such conditions. Since each must be signed off before a lawful start can be made, the developer is at the mercy of the least efficient council or stakeholder officer determining any one of the applications to discharge the conditions. But we will need to see the legislation to see if it will be effective.
"It is difficult to get excited about a “National Infrastructure Commission”. At the end of the day, the level of infrastructure we invest in (and whether the nation can afford to do it, or not to do it) is essentially a political decision. We have seen with the on-going, and still unresolved, debate over South East airport capacity that kicking the can down the street to an independent body – however well qualified - only delays the date of that political decision.”
David Cameron’s proposal to widen the ‘failure to prevent’ type of corporate crime for bribery and tax evasion to include fraud, money laundering and other financial crime is a game changer. It would bring the UK’s approach closer to that of the US.
FCA-regulated firms in the financial services sector will be familiar with the requirement for effective systems and controls to prevent financial crime and face the threat of fines and public censure if they don’t have suitable measures in place.
The Prime Minister now views criminal enforcement as the tool to ensure corporate compliance in all industries, not just financial services in what is in increasingly tough approach to regulation.
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