Under the proposal, added to the Economic Crime and Corporate Transparency Bill, senior managers will be brought within scope of who can be considered the ‘directing mind and will’ of a business. It means if they commit an economic crime, the company can also be held criminally liable and fined for the offence.

In practice, a test will be applied to consider the decision-making power of the senior manager who has committed an economic crime, rather than just their job title. The corporation may then be liable in its own right.

This will reduce the ability for corporations to use complex management structures to conceal who decision makers are.