Law360 recently featured the comments of John Gibson, head of Cohen & Gresser’s UK White Collar and Investigations practice, in an article about a new bill that could help prosecutors by reforming key aspects of corporate criminal law that for years have hampered the UK’s efforts to combat the fraud epidemic.

One notable measure under debate is a new, bespoke offense that would make companies criminally liable for failing to prevent fraud by their employees. John noted that "[c]reating these bespoke failure-to-prevent offenses increases prosecutors' kitbag of potential charges," but also added that "[t]here aren't many examples of failure to prevent being charged, partly because the core pressure on law enforcement is to prosecute the substantive offending behavior."

Another proposal seeks to lower the standard of the identification doctrine—the requirement to prove that individuals who constitute the "directing mind and will" of the company knew about wrongdoing—by allowing companies to be held liable for a range of economic crimes by senior managers. Regarding the potential impact of this change, John draws a distinction between international companies that may already work within tougher parameters and domestic companies that may not: "Although it's seen in boardrooms as a seismic change in the law of England and Wales, I don't think most international companies will require significant change: they'll already have worked toward their liability in the U.S."

The 2023 Chambers High Net Worth guide awarded high rankings to Cohen & Gresser’s White Collar Defense and Regulation group, which earned a Band 3 ranking for Financial Crime: High Net Worth Individuals. The firm is one of only 18 ranked in this category throughout the UK.

Two partners were individually ranked for their leading work for HNW clients:

• Richard Kovalevsky KC (Band 1, Financial Crime: High Net Worth Individuals, UK)
• John Gibson (Band 3, Financial Crime: High Net Worth Individuals, UK)

High Praise for Client Service and Sophisticated Work

Chambers highlights C&G’s strength in representing affluent clients in a “diverse range of complex work,” including “high-stakes tax and fraud-related investigations.” The team’s sanctions-related matters “stand out as sophisticated examples of cross-border work” and demonstrate its extensive capabilities in this space. Client feedback consistently praises the firm’s “attentive service,” specifically noting that, “with Cohen & Gresser, the client always comes first.” The members of the team are “all insightful and exceptional,” clients praised.

Richard Kovalevsky KC is lauded for his “commendable breadth of expertise” in work for affluent individuals and families facing allegations of fraud or facing tax investigations. He is “extremely dedicated to clients, hard-working and knows his subject matter inside out,” clients note. 

John Gibson is recognized for expertly navigating “financial crime matters of high complexity.” Chambers spotlights his work for high-profile clients and his “involvement on high-value, cross-border mandates.” Clients praised him for being “extremely thoughtful, careful and assertive" and for bringing “new ideas” to matters.

Since opening in 2018, C&G’s London office has built a roster of distinguished lawyers, including some of the UK’s most respected former prosecutors. Led by four highly regarded lawyers from the Bar, C&G’s London White Collar and Criminal Defense practice offers extensive experience and full-service capabilities tailored to meet the particular issues of high net worth individuals.

About Chambers High Net Worth

Published by Chambers & Partners, the 2023 Chambers High Net Worth guide ranks the leading lawyers and law firms for international private wealth. The guide is used by family offices and professional advisers to wealthy individuals, providing objective guidance on an international scale. According to Chambers, “Those ranked in the guide understand the complex needs of HNW individuals and provide specialist advice.”

London-based partners John W Gibson and Richard Kovalevsky KC have been recognized in the 2024 edition of Best Lawyers in the United Kingdom for the second consecutive year. Both John and Richard were recognized for their work in the fraud category.

John’s work focuses on complex economic crime, investigations, and regulatory matters, drawing on his experience as a senior prosecutor and investigation manager in the UK’s Serious Fraud Office. Richard has over 30 years of experience representing high net worth individuals, directors, and corporations in a wide variety of white-collar criminal disputes, regulatory and internal investigations, and associated civil litigation, with a particular focus on financial crime.

The Best Lawyers guide relies entirely on peer review to determine and recognizes the “highest of talent in the legal industry.”

Three Mayfair-based lawyers from Cohen & Gresser—Jeffrey M Bronheim, John W Gibson, and Richard Kovalevsky KC—have once again been recognized among the top corporate and criminal lawyers for high-net-worth (HNW) individuals by Spear’s Wealth Management in their 2022 Legal Index. The Spear’s Legal Index identifies the top legal counsel for private clients in the UK.

Jeff Bronheim is featured as a “Top Recommended” corporate lawyer, with Spear’s highlighting that Bronheim is “highly recommended” in wealth management and is an “eminent and personable partner.” The guide notes that “any Mayfair financier who is thinking of branching out into new business ventures” should “give [Bronheim] a call.” Bronheim serves as the Managing Partner of Cohen & Gresser’s London office and has over 30 years of experience assisting funds, companies, HNW individuals, and family offices with complex legal and business issues.

John Gibson, head of Cohen & Gresser’s UK White Collar and Investigations Practice, is featured as a “Top Recommended” criminal lawyer in the 2022 index. He is commended by Spear’s for his “particular expertise with UK/US cooperation in economic crime investigation” and experience working with the U.S. Department of Justice and Federal Bureau of Investigation. With almost three decades of litigation and advisory experience, including five years as a senior prosecutor in the bribery and corruption unit of the UK’s Serious Fraud Office (SFO), Gibson’s practice at Cohen & Gresser focuses on complex economic crime, investigations, and regulatory matters in the UK, Europe and emerging markets.

Richard Kovalevsky KC has maintained his long-standing status as a “Top Recommended” criminal lawyer in the Spear’s index. Kovalevsky is the head of the Criminal Defense Practice for Cohen Gresser’s London office, specializing in advising and representing HNW individuals in connection with international and domestic legal matters. Spear’s states, “What’s noteworthy is the wide range of cases that come across Kovalevsky’s desk – from cases involving business, finance, stock market dealings, listings and announcements, to corruption, tax, fraud and money laundering.” The index similarly praises Kovalevsky for his wide-ranging client base, which includes global business leaders and high-profile politicians to HNW individuals and members of prominent families.

From Cohen & Gresser’s London office, Bronheim, Gibson, and Kovalevsky and their UK colleagues work closely with attorneys in Cohen & Gresser’s U.S. and Paris offices on complex multi-jurisdictional matters and offer a multi-disciplinary practice tailored to the needs of ultra-high and high-net-worth individuals and family offices. Leveraging decades of experience, including at premier investment houses, the Bar, and the top tier of elite global law firms, Cohen & Gresser delivers consistent, high-quality service across the types of matters our clients are likely to face, including fund investing and structure, strategic transactions, art law and restitution, privacy and data security, employment matters, tax issues, regulatory considerations, commercial disputes, reputation management, and, when necessary, defense against litigation, investigation, and prosecution.

International law firm Cohen & Gresser has been recognized in the 2022 Chambers High Net Worth guide for Financial Crime: High Net Worth Individuals in the UK. Chambers notes that the firm is “establishing itself in London” as one of the UK's top law firms in white collar and criminal defense.

The guide states that C&G is "dedicated to their client’s interests” and is always “responsive and switched on.” Client commentary highlights the firm’s ability to handle complex and sophisticated matters and describes the firm’s lawyers as “incredibly bright” and “prompt and professional.” Additional commentary notes that the firm “punch[es] above its weight in terms of quality of people it has attracted and the work it is instructed on.”

Richard Kovalevsky KC has once again been recognized in the Chambers High Net Worth guide as a Band-1 lawyer for Financial Crime: High Net Worth Individuals in the UK. Chambers commentary notes that Kovalevsky is “the guru for financial crime issues.” Another source calls Richard “the most impressive legal mind I have ever encountered.”

John Gibson has also debuted as an individually ranked lawyer in the Chambers High Net Worth guide for Financial Crime: High Net Worth Individuals in the UK. The guide highlights John’s talent for “distilling large volumes of material and complex issues into practical, usable advice that helps to progress a matter.” Additional commentary notes that he is an “astute criminal lawyer” who is “tenacious, well informed,” and “incisive and action led.”

Since opening in 2018, C&G’s London office has built a roster of superb lawyers, including some of the UK’s most respected former prosecutors. Led by four highly regarded lawyers from the Bar, Cohen & Gresser’s London White Collar and Criminal Defense practice offers unique full-service capabilities with respect to the four major facets of international financial crime practice: regulatory investigations and compliance, criminal defense, settlement options, and anti-money laundering and Proceeds of Crime and Asset Tracing (POCA).

About Chambers High Net Worth:

Published by Chambers & Partners, the 2022 Chambers High Net Worth guide ranks the leading lawyers and law firms for international private wealth. The guide is used by family offices and professional advisers to wealthy individuals, providing objective guidance on an international scale. According to Chambers, “Those ranked in the guide understand the complex needs of HNW individuals and provide specialist advice and legal services.”

International law firm Cohen & Gresser is pleased to announce that London-based partners John W Gibson and Richard Kovalevsky QC have been recognized in the 2023 edition of the Best Lawyers in the United Kingdom. The publication was recently featured in the Financial Times. John and Richard were both recognized as “Best Lawyers” for their work in matters relating to Fraud. Recognition in the guide is based entirely on peer review, “highlighting the most influential and effective players in the legal arena.”

International law firm Cohen & Gresser has been recognized by The Legal 500 UK for its “wide international reach” and “seamless collaboration” on cross-border investigations and disputes. Client commentary highlights C&G’s London office as “the go-to team for risk advisory” work and notes that clients should “instruct them before the other side does.”

C&G is recognized as a leading firm in the Regulatory Investigations and Corporate Crime (Advice to Corporates) category. The guide emphasizes the firm’s work with respect to the UK Serious Fraud Office (SFO) and notes that the team is “distinguished by its ability to draw on the expertise of experts in Washington, DC, New York, and Paris” for its multi-jurisdictional work. Clients highlight the team’s “astonishing depth of knowledge,” “strong connections to authorities,” and “razor-sharp analytical skills.”

The Legal 500 also recognized C&G in the Fraud: White-Collar Crime (Advice to Individuals) category. The guide notes that the firm is known for “housing a very strong team of white-collar crime specialists” who are “well-versed in representing senior executives and high-net-worth individuals” in all types of cases and investigations. Clients highlight the practice’s “terrific experience in the most high-profile and difficult cases” and praise the diverse experience each team member brings to the firm’s cases, including as city lawyers, ex-SFO prosecutors, solicitors from crime boutiques, and barristers.

C&G is also recognized as a leading firm in the Commercial Litigation: Mid-Market category. The guide recognizes the firm’s experience in complex, cross-border commercial litigation and highlights the team’s strength in financial services representations, particularly with respect to investment funds litigation and banking and financial services disputes. Clients applaud the practice as “well organized and accessible” and underscore the team’s ability to “give you a full picture” and “summarise the essential of what needs to be known.

In addition, Richard Kovalevsky QC has been recognized as a “Leading Individual” for Regulatory Investigations and Corporate Crime (Advice to Corporates). Richard, who joined C&G in November 2020, is described by clients as “clever and experienced” and a “major addition for the firm.”

Ranked Practice Areas:

• Regulatory Investigations and Corporate Crime (Advice to Corporates)
• Fraud: White-Collar Crime (Advice to Individuals)
• Commercial Litigation: Mid-Market

Recognized Individuals:

• John Gibson: Commercial Litigation: Mid-Market; Fraud: White-Collar Crime (Advice to Individuals); Regulatory Investigations and Corporate Crime (Advice to Corporates)
• Richard Kovalevsky QC: Commercial Litigation: Mid-Market; Fraud: White-Collar Crime (Advice to Individuals); Regulatory Investigations and Corporate Crime (Advice to Corporates)
• Jumana Rahman: Commercial Litigation: Mid-Market
• Thomas Shortland: Commercial Litigation: Mid-Market; Regulatory Investigations and Corporate Crime (Advice to Corporates)
• Tim Harris: Fraud: White-Collar Crime (Advice to Individuals); Regulatory Investigations and Corporate Crime (Advice to Corporates)

About The Legal 500: The Legal 500 analyzes the capabilities of law firms across the world. Its rankings “highlight the practice area teams who are providing the most cutting edge and innovative advice to corporate counsel.”

Cohen & Gresser is pleased to announce that Spear’s Wealth Management has named Jeffrey M Bronheim, John W Gibson, and Richard Kovalevsky QC to its 2021 Legal Directory & Hommes d’Affaires index. The Spear’s legal index identifies the top legal counsel for private clients in the UK.

Jeff Bronheim is featured as a “Top Recommended” corporate lawyer in the 2021 index. Spear’s notes that Jeff is an “eminent and personable partner” and “comes highly recommended by a senior adviser in wealth management.” Jeff serves as the Managing Partner of Cohen & Gresser’s London office and has over 30 years of experience assisting funds, companies, high-net-worth individuals, and family offices with complex legal and business issues, including investments, regulatory considerations, disputes, and structural planning.

John Gibson is featured as a “Top Recommended” criminal lawyer in the 2021 index and is commended for his “expertise with UK/US cooperation in economic crime investigation.” John leads Cohen & Gresser’s UK White Collar and Investigations practice and is a former senior prosecutor at the UK’s Serious Fraud Office. He offers rare insight into the focus of UK law enforcement and financial regulation, when and how to engage with regulators and prosecutors, and how to develop and deploy the best litigation strategy for a wide range of criminal and compliance situations.

Richard Kovalevsky QC, featured consistently by Spear’s as a “Top Recommended” criminal lawyer, is once again included in the 2021 criminal lawyers and hommes d’affaires indices. Spear’s highlights “the wide range of cases that come across Kovalevsky’s desk” and notes that “his client base is similarly varied.” Richard is the head of Criminal Defense for the London office. He specializes in advising and representing high-net-worth individuals in connection with international and domestic issues and is known for his discreet tactical approach and expertise.

From Cohen & Gresser’s office in Mayfair, Jeff, John, Richard, and their UK colleagues work closely with attorneys in Cohen & Gresser’s U.S. and French offices on complex multi-jurisdictional matters and offer a multi-disciplinary practice tailored to the needs of ultra-high and high-net-worth individuals and family offices. Leveraging decades of experience, including at premier investment houses, the Bar, and the top-tier of elite global law firms, Cohen & Gresser delivers consistent, high-quality service across the types of matters our clients are likely to face, including fund investing and structure, strategic transactions, art law and restitution, privacy and data security, employment matters, tax issues, regulatory considerations, commercial disputes, reputation management, and, when necessary, defense against litigation, investigation, and prosecution.

In this Law360 profile, John W Gibson discusses his five-year stint as a senior prosecutor and investigations manager in the UK Serious Fraud Office’s bribery and corruption unit, how he uses that experience to understand what matters when engaging with regulators and prosecutors, and how to deploy effective litigation strategy in criminal or compliance matters. (Subscription required.)

John Gibson spoke with Financial News to discuss the Financial Conduct Authority’s recent warning that the agency is keeping a close eye on the use of unauthorised messaging apps in finance.

“The really critical thing for firms to do is to not ignore warning signs… [or] turn a blind eye to situations in which they [firms] know that private devices are being used for business purposes,” said John, adding that doing so represented “unquestionably [a] failing in your regulatory obligations.”

“The way in which people are working remotely and using chat applications, is storing up risk for both institutions, and for their potential supervision and enforcement of the rules,” added John. (Subscription required.)

John W Gibson speaks to Law360 about the recent memorandum of understanding announced by the Serious Fraud Office (SFO) and the Competition and Markets Authority that shifts responsibility for the enforcement of the most serious and complex cartel offenses to the SFO.

Cohen & Gresser LLP advised private equity firm Limerston Capital in its acquisition of Forensis Group Limited and Forensic Axis Limited (trading respectively as Forensic Access and Axiom International), specialists in forensics science services and premier providers of international institutional reform and capacity building. The combined acquisition will form the basis of a new, comprehensive international criminal justice services provider. Management and founders, led by Professor Angela Gallop, will retain a significant minority shareholding as part of the transaction and will work with Limerston Capital to expand the businesses through organic growth and strategic acquisitions. The terms of the transactions were not disclosed.

John W Gibson speaks to Law360 about the light caseload and lack of charges coming out of the Serious Fraud Office. John notes that the current "cases are worthwhile, but they appear to lack the complexity or global scope of international bribery and corruption cases the SFO is designed to pursue." John also praises the Director of the SFO, Lisa Osofsky, for her "bold and impressive charging decision" regarding the recent investigation of GPT Special Project Management, Ltd. (a subsidiary of Airbus) and three individuals for alleged corruption offenses.

John Gibson is quoted in the Financial Times regarding the SFO’s new charges against two former Airbus executives and ex-British defense official relating to a £2bn UK government contract.

John W Gibson and Tim Harris spoke to Law360 about the implications of the Court of Appeal’s recent judgment that definitively changed the English law test for dishonesty. John and Tim highlight how the judgment could benefit prosecutors, disadvantage financial services professionals charged with dishonesty offenses, and how juries’ decisions could be affected.

John W Gibson spoke to Law360 about enforcement action and litigation over potential misconduct stemming from the UK’s COVID-19 lending programs. John notes that, while banks have been firmly warned of the possible Financial Services and Markets Act offenses, there could still be widespread abuse of the schemes.

John W Gibson is quoted in an article by The Daily Telegraph, which highlights the impact of the rare-earth metals industry on U.S. – China trade relations, noting “China has a ‘notional advantage’ in this area, by using relatively toothless regulation on African-based mining projects.”

John Gibson spoke with the Financial Times regarding the increasing number of suspicious activity reports (SARs) in the UK. He noted: “Consent SARs can be extremely complicated . . . and require days of rigorous analysis.”

Cohen & Gresser announces the expansion of its London office and White Collar Defense & Regulation group with the appointment of partner John W Gibson. A former UK Serious Fraud Office (SFO) senior prosecutor, John will focus his practice on cross-border corporate investigations and white collar defense. He has over 25 years of experience as a barrister, and advises on all matters relating to law enforcement, regulatory and internal investigation of suspected crimes and regulatory breaches, as well as the defense of companies and individuals. In addition, John has expertise in data strategy and the use of artificial intelligence (AI) in big data litigation and investigations.

Last week, the UK’s Insolvency Service published statistics on its enforcement activities and outcomes during the last financial year. The Report describes The Insolvency Service’s enforcement activities in the areas of director disqualifications, company enforcement actions, bankruptcy and debt relief matters, and criminal prosecutions. It also illustrates certain enforcement trends in director disqualifications.

In this C&G Client Alert, Thomas Shortland, John Gibson and Ashley Collins:

1. highlight three trends in director disqualification enforcement which emerge from the Report;
2. suggest factors that may have contributed to these trends; and
3. discuss whether these trends are likely to continue.

They also provide some insights on contested disqualification proceedings from recent cases.

The UK Government has published a draft amendment to the Economic Crime and Transparency Bill, which will create a new corporate failure to prevent fraud offence. While talk of the new offence as a “game changer” may be optimistic, the offence has significant implications not only for the investigation and prosecution of complex fraud in the UK but also for the enforcement risk created for “large” UK and non-UK companies which have UK customers.

In this article, Sir David Green CB KC, John Gibson, and Tim Harris discuss the terms of the offence, analyse its practical consequences and draw conclusions as to how law enforcement investigative strategy may change in response.

Corruption allegations at multinational companies can often lead to several jurisdictions launching investigations that can drag on for years and cause significant damage to a company’s reputation and ability to conduct business. With different factors in each jurisdiction for what grants the authority to charge companies and individuals with criminal offenses, multinational companies need to work with advisers and create a strategy for timely global settlements at the outset of any global corruption allegations.

In this article for Financier Worldwide, John W Gibson identifies several strategic considerations for boards to consider when facing corruption allegations, including finding lawyers that can work in close partnership with forensic accountants, industry experts, data scientists, and corporate intelligence experts to piece together what has happened, an early review of the company’s compliance program and implementation of anti-bribery and corruption best practices, strategic evaluation of the jurisdictions in which to report, and why it’s essential at the beginning of an investigation to commence meaningful, straightforward dialogue with the key lawyers and investigators in each investigating jurisdiction.

This article first appeared in the February 2022 issue of Financier Worldwide Magazine.

John Gibson, Tim Harris, Thomas Shortland, and Tom Orange authored the England & Wales chapter of the International Comparative Legal Guide - Corporate Investigations 2022. In this Q&A-styled publication, the authors answer frequently asked questions about conducting corporate investigations in the UK, including key considerations for deciding whether to conduct an internal investigation, self-reporting and cooperation with enforcement authorities, the investigation process (such as the conduct of witness interviews and data collection), the limits of legal privilege and many other pressing topics.

The Financial Conduct Authority (the “FCA”) issued a prohibition order against Mr Frensham based on his conviction for an offence which did not involve financial fraud or dishonesty and was unrelated to regulated activity. Following a referral, the Upper Tribunal considered such a prohibition for the first time in Frensham v The Financial Conduct Authority [2021] UKUT 0222 (TCC). Although the Tribunal concluded that the conviction alone was insufficient to make a prohibition order, the FCA’s decision was nonetheless upheld due to Mr Frensham’s failure to be open and transparent with the FCA during the course of the criminal investigation and later regulatory proceedings brought by the Chartered Insurance Institute (“CII”), which meant that he lacked integrity. In short, the Tribunal concluded that “it is not the fact that a criminal offence has been committed that is fatal to an applicant’s case but the manner in which he deals with the consequences that follow. In this case, we have found that the way Mr Frensham dealt with those consequences demonstrated a lack of integrity which entitles the Authority to exercise the prohibition power in order to further its statutory objectives”.

The Tribunal’s carefully reasoned judgment provides essential guidance both to the FCA and to firms assessing an individual’s fitness under the Senior Managers and Certification Regime (“SMCR”), and more generally under the Individual Conduct Rules (“COCON”), on how non-financial misconduct committed in an individual’s private life, where unrelated to their regulated activity, should be approached. This C&G Client Alert reviews the facts and the law, and analyses key lessons from the case.

With the shift to remote working and the convenience of chat applications for conducting business, it is critical for firms to understand that information relevant to their business may be created on personal devices and applications. The UK FCA’s failed prosecution of an investment banker for destroying WhatsApp messages taken together with the FCA’s ‘Market Watch 66’ publication highlighting the need to control electronic communications is a reminder to firms to address staff use of personal chat applications to conduct business.

In this C&G client alert, John W Gibson and Charlotte Ritchie outline the new UK Insolvency Practice Directions that are in place as a result of the Corporate Insolvency and Governance Act 2020.

In this C&G Client Alert, John W Gibson and Tim Harris discuss the Financial Conduct Authority’s (“FCA”) public censure of Redcentric PLC for market abuse and the likely implications for FCA enforcement in the context of the economic conditions created by COVID-19.

John W Gibson and Tim Harris discuss the Court of Appeal’s recent judgment in R v Barton & Booth, and consider some of the implications for those accused of complex fraud allegations by the alteration of the legal test for dishonesty.

John W Gibson and Tim Harris offer a practical, cross-border insight into UK anti-money laundering law in their chapter for International Comparative Legal Guides.

John W Gibson, Thomas Shortland, and Ashley Collins outline the key factors company directors must consider when making business decisions during the COVID-19 pandemic, as they may face scrutiny from a range of interested parties including creditors, employees, trade unions, landlords, customers, regulators, insolvency practitioners, and possibly law enforcement.

John W Gibson, Tim Harris, Barbara K Luse, and Charlotte Ritchie discuss the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“the 2019 Regulations”) that recently came into force in the UK.  The 2019 Regulations extend anti-money laundering responsibilities to UK art market participants, including art dealers and other intermediaries, in response to the increasing recognition that high value art is used by criminals and terrorist groups to launder and hide money.

John W Gibson, Tim Harris, and Patrick Ferguson discuss the enforcement risks created by cum-ex transactions and the implications for jurisdictions, such as the UK, where cum-ex transactions per se have not been carried out, but where dividend arbitrage trades carry a risk of facilitating tax evasion, money laundering, or market abuse.

Miriam González Durántez and John W Gibson discuss the deal and no-deal implications for finance and sanctions following a “Brexit” in The Law Society Gazette.

John W Gibson and Miriam González Durántez discuss the parallels between the early enforcement of the Bribery Act 2010 and the UK Office of Financial Sanctions Implementation's first monetary penalty.

Jeffrey M Bronheim and John W Gibson discuss the implications of the Financial Conduct Authority’s decision to review hedge fund polling data use in their latest C&G Client Alert.

John was the keynote speaker at the 2018 Global Investigations Review Conference.

John spoke on the subject of legal privilege at The Cambridge International Economic Crime Symposium in 2016, 2017, and 2018 .