The new DPA landscape for fraud

24 February 2024 will mark the tenth anniversary of Deferred Prosecution Agreements ("DPAs") being introduced in the UK as a means of resolving corporate crime. The article, 'The new DPA landscape for fraud', considers the key themes emerging from the DPAs that have been agreed to date and the likely use of DPAs in light of the incoming failure to prevent fraud offence and the recent expansion of the identification principle under the Economic Crime and Corporate Transparency Act 2023. Read more

Transparency International publishes CPI 2023

On 30 January 2024, Transparency International (“TI“) published the Corruption Perceptions Index 2023 (“CPI“). The CPI, which is the most widely used indicator of corruption worldwide and covers 180 countries, scores and ranks countries (or territories) based on how corrupt a country’s public sector is perceived to be by experts and business executives. Read more

Herbert Smith Freehills is the premier sponsor of City & Financial Global’s Market Abuse and Market Manipulation Summit on 27 February

Herbert Smith Freehills is delighted to be the premier sponsor for City & Financial Global's forthcoming Market Abuse and Market Manipulation Summit on 27 February 2024.  Partners Chris Ninan and Jon Ford from our London financial services regulatory team will be co-chairing this highly acclaimed Summit which brings together leading regulatory, Government and market practitioners in a packed one-day programme. Read more

EEA UCITS operators take note: the Overseas Funds Regime to start by the end of 2026

Last week, the government announced its first equivalence decision under s271A of the Financial Services and Markets Act 2000 (FSMA), finding the EEA states to be equivalent under the Overseas Funds Regime (OFR). The equivalence decision will apply to undertakings for collective investment in transferable securities (UCITS), except those which are also Money Market Funds (MMFs), as there is ongoing regulatory development in this area. Read more

Higher fines and early settlement – the future of UK PRA Enforcement?

As the Bank of England finalises its new Approach to Enforcement, we have taken a closer look at the implications for PRA enforcement cases and the answers to some important questions about the changes around the way firms and individuals under investigation will be able to seek to settle cases early and access larger discounts. The changes also include a new starting point for penalty calculations, which have led to concerns about higher fines for 'certain firms'. Read more

FSR GLOBAL OUTLOOK 2024: FINDING SOLID GROUND AS THE BEDROCK SHIFTS

We are delighted to share our global FSR Outlook 2024: Finding solid ground as the bedrock shiftsIn 2024, the character of change facing the financial industry is more foundational - or fundamental - in nature than ever before. From ESG to AI, the shape of the world we live in is changing in a radical way. This year, we chart the paths through the shifting landscape for financial services businesses seeking solid ground. Read more