TI publishes Corruption Perceptions Index 2012

Transparency International (TI) has published the Corruption Perceptions Index 2012 (CPI). The CPI, originally launched in 1995, ranks countries according to how corrupt their public sector is perceived to be. The index is compiled using a combination of polls drawing… Read more

Corporate crime update – December 2012

Please click here for the November 2012 edition of our global corporate crime update. Jurisdictions covered in this month’s update include: United Kingdom, France, Spain, Russia, the Middle East, Hong Kong, Japan, Australia and the United States. Read more

US SEC’s record-setting $276 million insider trading case

The US Securities and Exchange Commission (SEC) announced that it had charged CR Intrinsic Investors LLC (a hedge fund advisory firm), Mathew Martoma (its former portfolio manager) and Dr Sidney Gilman, a medical consultant for an expert network firm, in relation… Read more

New EU Short selling regime now in force

The  new EU short selling regime came into force on 1 November 2012. The regime, which is established by the EU Short Selling Regulation (No 236/2012), contains disclosure requirements and restrictions on short selling.  The Regulation: requires net short positions… Read more

Government gives green light to Deferred Prosecution Agreements

In our earlier briefing we reported on the Government's consultation to introduce Deferred Prosecution Agreements ("DPAs") – a new mechanism for addressing criminal conduct by commercial organisations. On 23 October, the Ministry of Justice published its Response to that Consultation… Read more

Draft Banking Reform Bill published

The draft Financial Services (Banking Reform) Bill has now been published.  This draft Bill is the first legislative step towards implementing the ring-fencing and depositor preference recommendations of the Independent Commission on Banking (ICB) made in September 2011.  The Government… Read more

FSA’s Authorisations move to internal “twin peaks”

In April 2012, the FSA moved to an ‘internal twin peaks’ model in relation to its supervisory functions, which involved splitting its integrated approach to supervision, making changes to the supervisory frameworks and risk assessment models, and reallocating supervisors between… Read more

Corporate crime update – October 2012

We are delighted to announce that we have expanded our corporate crime updates to cover a number of additional jurisdictions. Accordingly our corporate crime updates will now feature our round up of developments in relation to corruption, money laundering, fraud,… Read more

New PRA and FCA regimes for Approved Persons

The FSA has published a consultation paper on the PRA and FCA regimes for approved persons (CP 12/26).  CP 12/26 sets out proposed amendments to the current approved persons regime necessary to implement the new regulatory structure.  CP12/26 was prepared… Read more

Our new firm: Herbert Smith Freehills

Today has seen the launch of our newly merged firm, which combines the market leading practices of legacy firms Herbert Smith and Freehills. The new firm has 2,800 lawyers, including 460 partners, across 20 offices in Australasia, EMEA, the UK… Read more

FSA plea for wider enforcement powers warrants careful scrutiny

In the FSA's request for further enforcement powers, made in submissions to the Parliamentary Commission on Banking Standards (published on Monday), the regulator has specifically suggested the following should be added to the regulatory enforcement toolkit: taking personal enforcement action against… Read more