Tag Archives: Investigations

Singapore: MAS withdraws second merchant bank status in AML push

In line with its increased commitment to combat money laundering and terrorist financing in Singapore, the Monetary Authority of Singapore (MAS) has ordered the closure of Falcon Private Bank Ltd, Singapore Branch (Falcon Bank). On 11 October 2016, the MAS … Continue reading

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Filed under Financial Services Regulation, Investigation and compliance, South East Asia

Property tycoon and former Chief Secretary to appeal to Court of Final Appeal in Hong Kong’s high profile corruption case

Former Chief Secretary, Rafael Hui, former Sun Hung Kai chairman, Thomas Kwok, and two others have today been given permission to appeal to Hong Kong's Court of Final Appeal.  The Court of Appeal granted permission for the further appeal in … Continue reading

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Filed under Hong Kong, Investigation and compliance

Property tycoon and former Chief Secretary lose appeal in Hong Kong’s highest-profile corruption case

Hong Kong property tycoon Thomas Kwok and ex-deputy leader Rafael Hui saw their appeals against conviction and sentence dismissed before the Hong Kong Court of Appeal. In a detailed judgment, the Court of Appeal unanimously rejected the appeals brought by … Continue reading

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Filed under Hong Kong, Investigation and compliance

Herbert Smith Freehills’ new global report reviews corruption trends and perceptions in close to 100 countries

Please click here to preview this publication. We have launched the first global edition of our Anti-corruption Report, reviewing a year in which corruption investigations have never been far from the headlines.

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Filed under Enforcement, Investigation and compliance

New guide to anti-corruption regulation in Asia Pacific launched

Over the past two years we have witnessed an exponential increase in global efforts to combat corruption. Nowhere is this more visible than Asia, where a number of countries have recently passed new anti-corruption legislation or taken steps to strengthen … Continue reading

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Filed under China, Enforcement, Hong Kong, Investigation and compliance, Japan, Korea, South East Asia

Hong Kong’s top court clarifies mental element in money laundering offence

In the recent case of HKSAR v Pang Hung Fai (FACC 8/2013), the Court of Final Appeal (the CFA) offered, for the first time, authoritative guidance on the mental element of “having reasonable grounds to believe” under section 25(1) of … Continue reading

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Filed under Investigation and compliance

Property tycoon and former Chief Secretary jailed in Hong Kong’s highest-level corruption trial

Thomas Kwok, chairman of Sun Hung Kai Properties, Rafael Hui Si-yan, former Government number two, and two businessmen have been found guilty and sentenced to jail terms in Hong Kong’s HK$34 million (US$4.3 million) graft “trial of the century”. The convictions arise out … Continue reading

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Filed under Hong Kong, Investigation and compliance

UK Court of Appeal allows private LIBOR claims to proceed

An issue which has in recent years been on the agenda of financial regulators globally is the potential manipulation or fixing of the London InterBank Offered Rate (“LIBOR”) and similar rates, by financial institutions.  Given that the LIBOR and similar … Continue reading

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Filed under Investigation and compliance, Pleadings

Hong Kong Court of Final Appeal rules on privilege against self-incrimination in anti- corruption investigations

In the decision in A v The Commissioner of the Independant Commission Against Corruption [2012] HKCFA 79 handed down on 13 November 2012 the Court of Final Appeal in Hong Kong (CFA) held that a non-suspect party which was required to provide … Continue reading

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Filed under Disclosure, Hong Kong, Investigation and compliance

Court of Appeal rules partial waiver of privilege recognised in Hong Kong

In Citic Pacific Limited v Secretary for Justice  (unrep, CACV 60/2011), the Court of Appeal considered the legal principles relating to the nature and extent of legal professional privilege, and held that the concept of partial waiver of privilege is … Continue reading

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Filed under Disclosure, Hong Kong, Investigation and compliance