Sector Updates by Herbert Smith Freehills

Financial firms: protecting customer personal data

A recent case provides a rare example of the criminal prosecution of an individual (in this case the former employee of an insurer) for breach of the Data Protection Act 1988 (DPA).  David Barlow Lewis was a former employee of … Continue reading

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Filed under Europe, European Regulation, FSA, FSA Rules, Insurance, Sector Updates by Herbert Smith Freehills, UK, UK Legislation, UK Regulations, Uncategorized

Government gives green light to Deferred Prosecution Agreements

In our earlier briefing we reported on the Government’s consultation to introduce Deferred Prosecution Agreements (“DPAs”) – a new mechanism for addressing criminal conduct by commercial organisations. On 23 October, the Ministry of Justice published its Response to that Consultation … Continue reading

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Filed under Bribery and Corruption, Corporate Crime, Herbert Smith Freehills, JURISDICTIONS, Middle East, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, UK Legislation

Corporate crime update – October 2012

We are delighted to announce that we have expanded our corporate crime updates to cover a number of additional jurisdictions. Accordingly our corporate crime updates will now feature our round up of developments in relation to corruption, money laundering, fraud, … Continue reading

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Filed under Americas, Asia, Australia, Bribery and Corruption, Corporate Crime, Europe, Herbert Smith Freehills, JURISDICTIONS, Middle East, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, UK

EU strengthens sanctions against Iran with particular impact for oil and gas sector and financial institutions

On 15 October 2012, the Council of the European Union announced that it had decided to strengthen significantly the EU’s restrictive measures in respect of Iran – increasing the action being taken by the international community against Iran. The amendments … Continue reading

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Filed under Corporate Crime, EU, Herbert Smith Freehills, HM Treasury, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, UK

Transparency International progress report on enforcement of OECD Convention on foreign bribery

Transparency International (TI) has published its 8th annual progress report on enforcement of the Organisation for Economic Cooperation and Development (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (the Convention). The Convention, which was adopted … Continue reading

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Filed under Bribery and Corruption, Herbert Smith Freehills, Sector Updates by Herbert Smith Freehills

Corporate crime update – September 2012

Please click here for the September 2012 edition of our corporate crime update containing our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters.

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Filed under Bribery and Corruption, Corporate Crime, Herbert Smith Freehills, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

EMIR nears the finish line

The European Market Infrastructure Regulation (EMIR) entered into force on 16 August 2012, with the final text of the Regulation having been published on 27 July 2012 in the Official Journal of the European Union.  Although most of the obligations … Continue reading

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Filed under EU, Europe, European Regulation, JURISDICTIONS, Sector Updates by Herbert Smith Freehills

Corporate crime update – July 2012

Please click here for the July 2012 edition of our corporate crime update containing our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters.

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Filed under Bribery and Corruption, Corporate Crime, Europe, Herbert Smith Freehills, JURISDICTIONS, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, UK

Case Law Update: Consent Solicitations, Consent Payments and Oppression of the Minority

The legality of exit consents, used widely in the bond markets in the context of liability management exercises, has been examined for the first time under English law.  In Assénagon Asset Management S.A. v Irish Bank Resolution Corporation Limited, the … Continue reading

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Filed under JURISDICTIONS, Sector Updates by Herbert Smith Freehills, UK

Temporary suspension of sanctions against Burma/Myanmar

On 14 May 2012 the Council of the EU finally adopted the Regulation required to implement its Decision of 26 April 2012 to suspend, for one year, the bulk of the restrictive measures applied to Burma/Myanmar in various forms since … Continue reading

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Filed under Asia, Herbert Smith Freehills, JURISDICTIONS, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills