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Welcome to the Winter 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
On December 2, 2021, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury took several actions to increase sanctions pressure on Belarusian government. Read more
Since 10 January 2021, cryptoasset exchange providers and custodian wallet providers with operations in the UK have been required to register with, and be supervised for, anti-money laundering and counter terrorist financing (AML/CTF) purposes by the FCA. For crypto businesses which do not carry on any investment, payment services, e-money or other UK regulated business, this relatively limited regime is the main tool currently available to UK financial services regulators in this emerging sector. 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 December 2021 and January 2022.Read more
We are delighted to announce the programme for Herbert Smith Freehills' Eighth Annual Corporate Crime and Investigations Conference on 30 November 2021.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 November 2021.Read more
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
