FSCA levies record R1.5 billion fine against Steinhoff International Holdings N.V. for false, misleading and deceptive statements to the market

On 12 September 2019, the South African Financial Sector Conduct Authority (FSCA) announced the conclusion of its investigations into Steinhoff International Holdings N.V. (Steinhoff). The FSCA found that Steinhoff provided false, misleading or deceptive statements to the market and accordingly breached the provisions of the Financial Markets Act No. 19 of 2012 (the FMA). As … Read more

Corporate Crime update – Spring 2019

Welcome to the Spring 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. Read more

Herbert Smith Freehills edits and contributes chapters to Getting the Deal Through – Financial Services Litigation 2018

There has been a significant rate of global growth of litigation in the financial services sector following the 2008 global financial crisis. While the existence of financial services litigation is truly a global phenomenon, it has become apparent that the law and procedures in relation to such disputes have evolved in different ways across the … Read more

OECD Foreign Bribery Report

The Organisation for Economic Cooperation and Development (OECD) released its Foreign Bribery Report (Report) this week.  The Report is the OECD’s first ever analysis of foreign bribery on a global scale.  It analyses 427 legal cases involving companies (164 cases) and individuals (263 cases) who allegedly bribed foreign public officials in one or more of the … Read more

Enforcing arbitration awards on the fringes of EMEA

As more and more investment is made by financial services institutions into the emerging markets of Africa, the Middle East and emerging Europe, enforcement in those jurisdictions is increasingly an issue of central importance. Clearly when selecting a dispute resolution procedure, be it litigation, arbitration or a combination of the two, the ability to enforce … 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 one entity were removed from the EU’s list of designated persons, and the travel ban … Read more