Corporate Crime Update – Winter 2019

Welcome to the Winter 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. For the full update… Read more

Anti-money laundering regulatory round-up

Author: Susannah Cogman Late 2018 and early 2019 saw a flurry of regulatory developments and proposals relating to anti-money laundering. We have reported on these in brief in our regular corporate crime updates, but for those who have been –… Read more

Corporate Crime update – December 2018

Welcome to the December 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. This month, we would like to wish all of our regular readers a… Read more

EUROPEAN COMMISSION ANNOUNCES “NO DEAL” CONTINGENCY ACTION PLAN

The European Commission has announced that it has started implementing its Brexit “no deal” Contingency Action Plan given the continuing uncertainty regarding ratification of the Withdrawal Agreement in the UK. This follows the Commission's communication of 13 November 2018 which… Read more

Brexit Final Political Declaration: Nothing [new] to see here?

On financial services, the final political declaration contains essentially the same three points as in last week's outline political declaration (the implications of which were discussed in our blog post of 15 November, available here), although there is some limited… Read more

Corporate Crime update – June 2018

Welcome to the June 2018 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below… Read more

PROPOSED AMENDMENTS TO THE EU BLOCKING STATUTE

In May, we published an e-bulletin discussing President Trump's announcement that the United States would withdraw from the Iran nuclear deal (the Joint Comprehensive Plan of Action – "JCPOA"), and that all pre-JCPOA nuclear-related sanctions on Iran (including secondary sanctions) would be… Read more

ESAs consultations: amendments to EMIR for securitisation issuers

In May 2018, the Joint Committee of the European Supervisory Authorities ("ESAs") launched two consultations (the "Consultations") to amend EMIR concerning (i) the clearing obligation and (ii) certain risk mitigation techniques for non-cleared OTC derivatives in respect of securitisation issuers.… Read more

Corporate Crime update – April 2018

Welcome to the April 2018 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. Below we provide a brief overview of… Read more

Corporate Crime update – March 2018

Welcome to the March 2018 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. For the full update on each jurisdiction,… Read more

Corporate Crime update – February 2018

Welcome to the February 2018 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. For the full update on each jurisdiction,… Read more

NEW SANCTIONS TARGETING VENEZUELA AND MALI

On 13 November 2017, the EU Council unanimously voted to impose a wide range of targeted sanctions on Venezuela in response to the growing political crisis in the country. Notably, the new EU sanctions go further than current US measures… Read more

No margin for error: the upcoming EMIR margin rules

EMIR is the centrepiece of the EU post financial crisis reform of derivatives markets and seeks to address perceived issues with counterparty credit risk and transparency. After a long and difficult consultation period, and some way behind other similar global… Read more

Corporate Crime Monthly Update September 2016

Welcome to the September 2016 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. For the full update on each jurisdiction, please click… Read more

#MAR_bitesize

New Market Abuse powers for the FCA   The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 On 29 June 2016, the Government adopted the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations").  This left… Read more

Market abuse update – July 2016

The Market Abuse Regulation (MAR) and the Criminal Sanctions (Market Abuse) Directive came into application in Europe on 3 July 2016.  Various outstanding pieces of secondary legislation were published in the Official Journal shortly before then, and further material has… Read more

#MAR_bitesize

Extra-territorial scope of MAR: impact on non-EU firms Article 2(4) of MAR applies the "prohibitions and requirements" within MAR to behaviour that occurs both within the EU and in a third county.  In other words, MAR is intended to have… Read more

#MAR_bitesize

Suspicious transaction and order reporting Under Article 16 of MAR, market operators and investment firms operating a trading venue1, and any person professionally arranging or executing transactions, should have in place arrangements, procedures and systems for the detection and reporting… Read more

#MAR_bitesize

MAR MONDAY On 3 July 2016, the EU Market Abuse Regulation (MAR) (EU 596/2014) replaced the Market Abuse Directive (MAD) and the current UK regimes for market abuse and inside information.  To help guide you through the first six months… Read more

MiFID II: Where do asset managers go from here?

The one year delay to the implementation of MiFID II provided the industry with some welcome respite from the seemingly unrelenting waves of regulatory reform. European regulatory implementation timetables are always tight but the original MiFID II timetable was proving… Read more

Market abuse update – April 2016

This will be our last quarterly Market Abuse update before 3 July 2016, the date when both the new Market Abuse Regulation and the Criminal Sanctions (Market Abuse) Directive come into application across Europe. Some significant pieces of the regulatory… Read more

Financial firms: protecting customer personal data

A recent case provides a rare example of the criminal prosecution of an individual (in this case the former employee of an insurer) for breach of the Data Protection Act 1988 (DPA).  David Barlow Lewis was a former employee of… Read more

Corporate Crime Monthly Update March 2016

Welcome to the March 2016 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. For the full update on each jurisdiction, please… Read more

The EU Securities Financing Transactions Regulation

The Securities Financing Transactions Regulation (SFTR) entered into force on 12 January 2016.  The SFTR has a broad scope with extraterritorial and retrospective reach, and impacts on both EU and non-EU financial and non-financial counterparties.  All firms involved in securities… Read more