On 26 April 2021, the Hong Kong Monetary Authority (HKMA) published its key observations and good practices from a thematic review on the use of external information and data by authorised institutions (AIs) in their anti-money laundering and counter-financing of terrorism (AML/CFT) control systems. Continue reading
Tag: financial crime
We are pleased to share our publication on Fintech: Latest UK Legal and Regulatory Trends.
As the UK finally starts to emerge from Brexit, it is seeking to capitalise on its new-found freedom. Covid-19 continues to act as a catalyst for the rapid development of innovative financial solutions. And the UK remains one of the most receptive markets for Fintech – with record levels of
investment and a consumer adoption rate that exceeds the global average. Continue reading
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 February 2021. Continue reading
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 January 2021. Continue reading
The Criminal Division of the Court of Appeal in the case of Barton and Booth v R  EWCA Crim 575 has held that the correct test for dishonesty is that as set out in Ivey v Genting Casinos (UK) Ltd t/a Crockfords  UKSC 67. Continue reading
Herbert Smith Freehills LLP’s Seventh Annual Corporate Crime & Investigations (“CC&I”) Conference is being held as a Global Conference Series of webinars over the upcoming months. The first webinar took place on 18 June 2020 and covered the topic of “CC&I in the time of Covid-19”. Continue reading
On 4 June 2020, Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at the FCA, delivered a speech on the FCA’s response to Covid-19 and expectations for 2020.
Addressing a virtual audience at PIMFA’s Virtual Festival, Ms Butler explored the FCA’s priorities and longer-term expectations, in particular for the wealth management and advice industry. Continue reading
Every quarter our financial services regulatory team publishes the Financial Services Regulatory Timeline, a look ahead at key regulatory milestones in the coming months and years in a range of areas, created for our clients in financial institutions. Three areas covered in the Timeline are Financial Crime, Enforcement, and Market Abuse. For the readers of our FSR and Corporate Crime blog, we have produced these sections as a Calendar of key developments in Financial Crime, Market Abuse and Enforcement which can be accessed here.
Last month the Communist Party of China held its 19th National Congress. One of the key themes that came out of the Congress was the desire to increase the focus on combatting financial crime and systemic financial risk.
This increased focus follows on the back of the stock market crash in summer 2015 and enforcement actions against those considered responsible for the crash, including investigations into allegations of bribery and stock market manipulation involving senior officials at the China Securities Regulatory Commission (CSRC) and the China Insurance Regulatory Commission (CIRC), as well as criminal proceedings against brokerages. Continue reading
At this recent conference, held by Herbert Smith Freehills and attended by close to a hundred clients, we explored some key legal and compliance risks facing major corporates and how those risks can be mitigated.
After opening remarks by dispute resolution partner and conference chair David Reston, presentations took place on corporate governance, financial crime, cyber security and risk transfer through insurance, as well as a panel session on business and human rights, class actions and investment protection. The morning concluded with Andrew Procter looking at the practicalities and challenges of designing and operating a risk control programme, from his perspective as a former regulator and compliance head at a global financial institution.
Read more of this post from our litigation team.