Welcome to the May 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 April 29, 2021, SAP SE (SAP), a leading international provider of enterprise application software based in Germany, entered into settlements and a non-prosecution agreement (collectively, the SAP settlements) with US federal agencies for alleged violations of US sanctions and US export controls with respect to Iran. Read more

The Office of Financial Sanctions Implementation (“OFSI”) published an updated version of its “Monetary penalties for breaches of financial sanctions – guidance”. In this briefing, we have set out some of the key changes to the Guidance, in particular as regards: (i) the stated scope of OFSI’s jurisdiction; (ii) voluntary disclosure, and the impact of legal professional privilege on disclosures to OFSI; (iii) OFSI’s discretion in assessing the seriousness of cases; and overall, (iv) a potentially more aggressive approach to penalties. 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 March 2021. Read more

Upon the end of the Brexit transition period at 11pm on 31 December 2020, the UK ceased to implement EU sanctions. UK sanctions are now in force under the UK’s domestic sanctions regime, the framework for which is contained in the Sanctions and Money Laundering Act 2018 (“SAMLA”). The UK has introduced regulations under SAMLA which implement UK versions of the EU sanctions regimes that were in force pre-Brexit, although the new UK sanctions are not identical to the EU sanctions in all respects. Read more

On 7 December 2020, the Council of the EU announced the introduction of a new global human rights sanctions regime, as part the EU Action Plan on Human Rights and Democracy 2020-2024. The new regime introduces a framework to impose a travel ban and asset freeze on individuals and entities identified as responsible for, involved in or associated with, serious human rights violations and abuses worldwide. 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 2020. Read more

Welcome to the November 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