Uncategorized

MALAYSIA INTRODUCES NEW LAW TO COMBAT CORPORATE BRIBERY

The Anti-Corruption Commission (Amendment) Act 2018 was passed by the Senate of Malaysia on 5 April 2018. One of the major amendments is the introduction of section 17A. Modelled on the UK Bribery Act’s corporate offence, it penalises commercial organisations … Continue reading

Leave a Comment

Filed under Asia, Bribery and Corruption, Malaysia, Uncategorized

SFC ISSUES GUIDANCE ON BEST EXECUTION FOLLOWING THEMATIC REVIEW

On 30 January 2018, the Securities and Futures Commission (SFC) issued a circular to set out its guidance on the standards expected of licensed corporations on best execution (Circular). The SFC also provided further detailed guidance in its Report on … Continue reading

Leave a Comment

Filed under Hong Kong, Sector Updates by Herbert Smith Freehills, Uncategorized

Government proceeds with proposals to enhance Hong Kong regulations on anti-money laundering and counter-terrorist financing

In 2018, Hong Kong's regime will be subject to mutual evaluation with those of other members of the Financial Action Task Force (FATF). FATF sets international standards for anti-money laundering and counter-terrorist financing regulation and reviews the effectiveness of regulation … Continue reading

Leave a Comment

Filed under Bribery and Corruption, Hong Kong, Uncategorized

Market Abuse Update – May 2017

The latest edition of our Market Abuse Update covers developments from the second half of 2016 through to April 2017. It features: the latest UK civil and criminal market abuse proceedings; significant international developments and enforcement cases; the FCA's recent Market … Continue reading

Leave a Comment

Filed under Uncategorized

SFO enters into third and largest deferred prosecution agreement

On 17 January 2017, Sir Brian Leveson QC approved the UK's third Deferred Prosecution Agreement ("DPA"), resulting in orders for disgorgement, penalties and costs exceeding £500 million. This is the largest DPA since their introduction in the UK in 2014. … Continue reading

Leave a Comment

Filed under Uncategorized

EU prolongs duration of Russian sectoral sanctions until July 2017

On 19 December 2016, the European Council announced that the EU's sectoral sanctions, targeting the Russian financial, energy and defence sectors, and dual-use goods (which were previously due to expire on 31 January 2017) will be extended for a further … Continue reading

Leave a Comment

Filed under Russia, Sanctions and Money Laundering, Uncategorized

#MAR_bitesize

New Market Abuse powers for the FCA (2) Powers to require information from issuers, PDMRs and persons closely associated to PDMRs The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations") were passed to ensure that UK law … Continue reading

Leave a Comment

Filed under Asset management, Banking, FCA, HM Treasury, Insurance, Investigations, Investment banking, Uncategorized

Shenzhen-Hong Kong Stock Connect targeted for launch around November 2016

Following from the launch of Shanghai-Hong Kong Stock Connect (Shanghai-HK SC) in November 2014, the Securities and Futures Commission and the China Securities Regulatory Commission made a joint announcement on 16 August 2016 about their in-principle approval for the establishment … Continue reading

Leave a Comment

Filed under Uncategorized

#MAR_bitesize

New Market Abuse powers for the FCA   The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 On 29 June 2016, the Government adopted the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (the "regulations").  This left … Continue reading

Leave a Comment

Filed under Estonia, EU, Europe, European Regulation, FCA, France, Germany, Italy, Liechtenstein, UK Regulations, Uncategorized

#MAR_bitesize

Investment recommendations Increased scope The former Market Abuse Directive (MAD) imposed requirements designed to ensure the objective presentation of investment recommendations and the disclosure of interests and conflicts of interest on the part of producers or disseminators of such recommendations.  … Continue reading

Leave a Comment

Filed under Asset management, Banking, EU, Investment banking, Investment Funds, Uncategorized