Corporate Crime update – Spring 2020

Welcome to the Spring 2020 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Read more

No “directing mind and will” found in SFO prosecution of Barclays

Two courts have dismissed charges against Barclays plc and Barclays Bank plc (together Barclays) relating to events flowing from the 2008 global financial crisis.  They found that senior executives, including the CEO and CFO, did not represent the required “directing mind and will” of Barclays in the circumstances. Read more

OFAC Issues Finding of Violation — but No Penalty — for Sanctions Violations Caused by Compliance System Defects and Human Error

On April 30, 2020, the US Department of Treasury's Office of Foreign Assets Control (“OFAC”) issued a Finding of Violation to American Express Travel Related Services Company (“AMEX”). OFAC’s findings, and its decision not to penalize AMEX, highlight three important sanctions compliance considerations for US and non-US companies alike. Read more

COVID-19: Pressure Points: Impact on UK criminal investigations & justice system

COVID-19 and the related lockdown restrictions are placing the UK criminal justice system under considerable pressure. In this briefing we discuss a number of COVID-19 related measures impacting the investigation and prosecution of economic crime, and the criminal justice system more broadly.  We also touch on fraud risks and financial crime compliance considerations arising from the COVID-19 pandemic, which we will discuss more fully in a future briefing. Read more

Corporate Crime update – Winter 2020

Welcome to the Winter 2020 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

No change to the FCA’s approach to enforcement and penalties

On 12 February, the FCA’s Executive Director of Enforcement and Market Oversight, Mark Steward, delivered the keynote address at the City & Financial Global Investigations and Enforcement Conference in London. This latest speech focused more broadly on the FCA’s approach to enforcement. In this article, we explore the implications for firms of some of the key messages of the speech. Read more