Welcome to the Spring 2019 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
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation for July 2019. Read more
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation for June 2019. 3 Jun Deadline for responses to FCA call for input on the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) evaluation; FCA to conduct ongoing research to gather … Read more
Authors: Kyle Wombolt, Jeremy Birch and Charlotte Benton The US Department of Justice Criminal Division (DOJ) has issued updated guidance on the Evaluation of Corporate Compliance Programs (guidance). Under the guidance, DOJ prosecutors evaluate the effectiveness of a company’s compliance programme when conducting an investigation, determining whether to bring charges or negotiating plea or other … Read more
Authors: John O’Donnell, Jonathan Cross, Geng Li, Christopher Milazzo, Susannah Cogman and Daniel Hudson Further emphasizing its expectation that all companies whose business touches on the United States should maintain a robust, risk-based US economic sanctions compliance program (“SCP”), the US Treasury’s Office of Foreign Assets Control (“OFAC”) has published a detailed “Framework for OFAC … Read more
Authors: William Hallatt, Hannah Cassidy and Valerie Tao On 24 April 2019, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint circular on their recent co-ordinated inspections of a bank and an SFC licensed corporation (LC) within a Mainland-based group. The inspections identified two key areas of concern: … Read more
On April 22, 2019, the White House announced that the Trump administration will not issue further “significant reduction waivers” exempting specified countries from the threat of secondary sanctions based on their purchases of Iranian crude oil. The move signals the Trump Administration’s intention to utilize economic sanctions to bring Iran’s level of oil exports to … Read more
Japan’s Consumer Affairs Agency is currently considering amendments to expand the scope and increase the effectiveness of Japan’s whistleblower protection laws. The proposal is earmarked for implementation later this year. Read more
