Tag Archives: Guidance

FCA issues outcome of high cost credit review and seeks feedback on proposals for new rules and guidance for overdrafts and high cost credit

The Financial Conduct Authority (FCA) has issued a press release setting out the outcome of its high-cost credit review (HCCR) together with new proposals on rules and guidance designed to protect consumers that use overdrafts and high-cost credit (the Proposals). 

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Filed under Announcements, Consultations, FCA, Herbert Smith Freehills, Regulatory Reform, Sector Updates by Herbert Smith Freehills

Foreign & Commonwealth Office publishes guidance on sanctions licensing policy after Brexit

The Foreign & Commonwealth Office has published guidance detailing the UK Government’s intended approach to sanctions exceptions and licences after Brexit. Sanctions exceptions and licences are mechanisms through which restrictive measures imposed by sanctions may be relaxed in specific circumstances. … Continue reading

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

US ANNOUNCES NEW RUSSIA SANCTIONS DESIGNATIONS, RELEASES NEW GUIDANCE

On April 6, 2018, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced new designations of seven high-net-worth Russian individuals and 12 companies they own or control, 17 senior Russian government officials, and a state-owned Russian … Continue reading

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Filed under Announcements, Corporate Crime, Russia, Sanctions and Money Laundering, US

Hong Kong SFC issues new guidance note and FAQs on regulatory cooperation and its benefits

On 12 December 2017, the Securities and Futures Commission (the SFC) published its Guidance Note on Cooperation with the SFC (the Guidance). The Guidance contains an updated section on disciplinary proceedings and a new section on proceedings in the civil courts … Continue reading

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Filed under Hong Kong, Investigations, Sanctions and Money Laundering

Singapore’s MAS issues Guide to Digital Token Offerings

On 14 November 2017, the Monetary Authority of Singapore (MAS) issued a guide during the first day of the Singapore FinTech Festival to provide general guidance on the application of the securities laws administered by the MAS, namely the Securities … Continue reading

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Filed under Announcements, Regulatory Reform, Singapore

US AUTHORITIES ISSUE COMPREHENSIVE IMPLEMENTATION GUIDANCE ON NEW US SANCTIONS LEGISLATION

Following our earlier bulletin, on October 31, 2017, the US Department of State and Department of Treasury’s Office of Foreign Assets Control (“OFAC”) posted comprehensive guidance related to the Countering America’s Adversaries Through Sanctions Act of 2017 (“CAATSA”). The new … Continue reading

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Filed under Announcements, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, US

Dealing with a dawn raid in Hong Kong

Surprise inspections by governmental authorities are on the rise. Any company in any sector may be on the receiving end and obstructing a lawful raid is a criminal offence. Therefore, it is essential to be prepared. Front line staff such … Continue reading

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Filed under Hong Kong, Investigations

OFSI publishes quick guide to financial sanctions

On 4 October 2017, HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) published a quick guide for UK businesses, with the aim of helping them understand and comply with financial sanctions. The guide is intended to help explain what financial … Continue reading

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Filed under Announcements, Sanctions and Money Laundering

EBA Guidelines on assessment of the suitability of members of management bodies of credit institutions and their key function holders

The European Banking Authority (EBA) has today published Guidelines on the assessment of the suitability of members of the management body and key function holders, setting out the process, criteria and minimum requirements for assessing the suitability of those persons.  The … Continue reading

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Filed under Banking, EU, Europe, European Regulation, Retail Banks