Error: Can't connect Warning: mysqli_query() expects parameter 1 to be mysqli, null given in /home/customer/www/hsfnotes.com/public_html/wp-content/themes/hsfnotes/template-parts/tpl_filters.php on line 186
Warning: mysqli_fetch_assoc() expects parameter 1 to be mysqli_result, null given in /home/customer/www/hsfnotes.com/public_html/wp-content/themes/hsfnotes/template-parts/tpl_filters.php on line 187
On 14 October 2021, the UK's Office of Financial Sanctions Implementation ("OFSI") published its annual review for the period April 2020 to March 2021 (the "Annual Review"). In this blog post, we set out some of the key takeaways from this year's Annual Review. Read more
On 4 October 2021, Petrofac Limited (“Petrofac”) was ordered to pay £77 million following the company’s guilty plea to seven counts of failing to prevent bribery in contravention of section 7 of the Bribery Act 2010 (the “Section 7 offence”). The sentencing, which took place at Southwark Crown Court on 1 and 4 October 2021, follows a four-year investigation by the Serious Fraud Office (“SFO”) into Petrofac’s historical use of agents and marks the third prosecution of a Section 7 offence in the courts of England and Wales. Read more
The Hong Kong Stock Exchange has launched a consultation paper on proposals to create a listing framework for special purpose acquisition companies (SPACs) in Hong Kong. Read more
In the next in our series of detailed briefings on proposed changes to the EU and UK anti-money laundering and countering the financing of terrorism ("AML/CFT") regimes, we consider the proposed changes to customer due diligence ("CDD") measures, as set out in the EU's recent AML reform package. Read more
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for October 2021.Read more
On September 21, 2021, the Office of Foreign Assets Control (“OFAC”) of the Treasury Department issued an Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments (“Updated Advisory”), which warns of the sanctions risks of making or facilitating ransomware payments and provides expanded guidance on steps that companies may take to mitigate ransomware risk. Read more
The latest edition of our Regulation in Focus podcast series features Karen Anderson and Andrew Procter, both partners in our FSR practice and both former regulators, in conversation about the FCA's plans to streamline regulatory decision-making, which - if the FCA proceeds as proposed - will be a significant change to how authorisation, supervision and enforcement are delivered. Read more
The option to participate in collective assurance activities is welcome, but this article which was originally published in the September 2021 edition of Butterworths Journal of International Banking and Financial Law makes the case for more guidance. Read more
Welcome to the Summer 2021 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. Read more
