Tag Archives: European Regulation

Corporate Crime Monthly Update – May 2017

Welcome to the May 2017 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions.

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Filed under Bribery and Corruption, Corporate Crime, Investigations

#MAR_bitesize

Managers' Transactions – Restrictions and Notification Requirements As was the case under the previous market abuse regime, MAR imposes various obligations on persons discharging managerial responsibility (PDMRs) in listed companies and their dealings in the securities of the company which … Continue reading

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Filed under European Regulation, FCA

Market abuse update – July 2016

The Market Abuse Regulation (MAR) and the Criminal Sanctions (Market Abuse) Directive came into application in Europe on 3 July 2016.  Various outstanding pieces of secondary legislation were published in the Official Journal shortly before then, and further material has … Continue reading

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Filed under Americas, Asia, Australia, Europe, European Regulation, France, Hong Kong, Uncategorized, US

EU extends Russian sectoral sanctions

On 1 July, the Council of the EU announced that its sectoral sanctions against Russia (which were previously due to expire on 31 July 2016) will be extended for a further six months until 31 January 2017.  This extension was effected by Council … Continue reading

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Filed under Corporate Crime, EU, European Regulation, Non-UK regulation, Sanctions and Money Laundering

EU further expands sanctions against Democratic People’s Republic of Korea

In light of missile and nuclear weapons tests by the Democratic People’s Republic of Korea (“DPRK”) earlier this year, which the EU has described as posing “a grave threat to international peace and security”, the EU Council has decided to … Continue reading

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Filed under European Regulation, HM Treasury, Korea, Sanctions and Money Laundering

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

Iran sanctions: Implementation Day (16 January 2016) marks a significant relaxation of EU and US sanctions against Iran

 On 16 January 2016, or "Implementation Day", legislation in the United States ("US") and European Union ("EU") came into effect, relaxing significantly the sanctions in place against Iran. This followed the issuing of a report by the International Atomic Energy … Continue reading

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Filed under Corporate Crime, European Regulation, Non-UK regulation, Sanctions and Money Laundering, US

EU extends existing limited suspension of Iran sanctions for a further two weeks

The EU announced on 14 January that it would prolong its existing suspension of certain (limited) sanctions on Iran until 28 January 2016 to allow time for implementation of the Joint Comprehensive Plan of Action (the "JCPOA").   Council Decision (CFSP) 2016/35, … Continue reading

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Filed under Corporate Crime, EU, European Regulation, Sanctions and Money Laundering

Authorising third country insurance firms: has the Commission got it wrong?

Geoff Maddock, partner Email | Profile tel: +44 20 7466 2067 mobile: +44 7785 255016 By Geoff Maddock, corporate insurance partner Commission view on authorisation In July 2015 a Commission official expressed a controversial view on when third country insurance … Continue reading

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Filed under Europe, Insurance, UK, UK Legislation, UK Regulations, Uncategorized

Problems with unit-linked products

Unit-linked insurance products have recently given rise to a number of regulatory issues. These cover: mis-selling; the responsibility of the insurer on the one hand and the intermediary on the other; the impact of Solvency II on the calculation of technical … Continue reading

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Filed under Europe, European Regulation, FCA, PRA, Retail Banks, Uncategorized