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

FCA consults on further changes to SMCR

Authors: Sarah Thomas, Cat Dankos and Hywel Jenkins At the end of January, the UK Financial Conduct Authority (FCA) issued a further consultation paper (CP19/4, the CP) on the Senior Managers and Certification Regime (SMCR). Responses to the CP are… Read more

Criminal Finances Bill 2016-17 passed by Parliament

The Criminal Finances Bill 2016-17 received royal assent on Thursday 27 April. The Criminal Finances Act 2017 (the "Act") (for the text of the Act, click here) is intended to "tackle money laundering and corruption, recover the proceeds of crime… Read more

Ensuring due process when regulators co-operate

Summary A recent Hong Kong judgment highlights the importance of ensuring due process when regulators exchange information with each other. Regulatory confidentiality In the UK a statement made to an investigator appointed by the FCA or PRA in compliance with… 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

The Serious Crime Act 2015

The Serious Crime Bill received Royal Assent on 3 March 2015 and will now enter into force as the Serious Crime Act 2015 (the "Act").  It introduces changes in a broad range of areas relating to both financial and non-financial… Read more

UK: Insurance Act receives Royal Assent

The Insurance Act has today received royal assent, paving the way for the most significant change to English insurance contract law in over 100 years.  The Act will come into force in August 2016 following an 18-month lead in period. … Read more

SFO brings first Bribery Act charges

The Serious Fraud Office ("SFO") had its first day in court in a Bribery Act prosecution on 24 September 2013, with three of four defendants connected with a £23m fraud at Sustainable AgroEnergy plc ("AgroEnergy") facing charges of making and… Read more

UK: Market Abuse Update 2013

In its first business plan, the FCA promised to continue to treat market abuse as a priority.  Last week, the FCA published details of its first successful enforcement action against a high frequency trader, and today, made four further insider dealing arrests, demonstrating the FCA's… Read more

UK: Whistleblowing in the workplace: Your Views

As you may know, the whistleblowing charity, Public Concern at Work, recently published a consultation paper to examine the effectiveness of existing arrangements for workplace whistleblowing and make recommendations for change.  The consultation paper can be found here.     ... Read more

UK: FCA regulation and supervision of financial benchmarks

On 25 March 2013, the FSA published its Policy Statement (PS13/6) finalising the new rules and regulations for financial benchmarks, following on from the recommendations of the Wheatley Review of LIBOR, and building on the provisions in the Financial Services Act… Read more

EU takes steps towards easing Zimbabwe sanctions

Susannah Cogman and Jeremy Sher comment on the EU's recent easing of the Zimbabwe sanctions regime. On 19 February 2013, the European Union ("EU") took a small step towards easing its sanctions regime in relation to Zimbabwe.  Twenty one individuals and… Read more

SFOUpcoming Webinar “The Bribery Act: An Update”

Thursday 14 February 2013 9:30 - 10:30am UK time The Bribery Act 2010 has now been in force for over 18 months. In this round-up webinar we will look at: the revised SFO guidance and other SFO related developments; Deferred… Read more

DPAs for the FCA? A New Year’s enforcement treat

As New Year's resolutions go, "read Schedule 16 to the Crime and Courts Bill" may not have been top of anyone's list.  Buried, however, in the Bill's provisions on deferred prosecution agreements ("DPAs") are some interesting pointers to the future… Read more