FSR and Corporate Crime Notes

AML/CFT compliance in Hong Kong: Recent record fine and reminder of latest guidance

Authors: William Hallatt, Hannah Cassidy, Natalie Curtis, Valerie Tao and Jennifer Fong. The Hong Kong Securities and Futures Commission (SFC) has …

Parliamentary Reports Back Improvements to the Supervision and Prosecution of Economic Crime

In this article we summarise some of the key points arising from two important reports regarding economic crime in the UK which have been published in …

COURT OF APPEAL UPHOLDS DISCLOSURE ORDER DESPITE RISK OF PROSECUTION IN IRAN

High Court refuses permission for collateral use of disclosed documents and witness statements to respond to US grand jury subpoena

In a decision illustrating the court’s strict approach to the rule prohibiting the use of disclosed documents and witness statements for a collateral …

Corporate Crime Update - Winter 2019

Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 2: Banks and credit institutions

Anti-money laundering regulatory round-up

Author: Susannah Cogman Late 2018 and early 2019 saw a flurry of regulatory developments and proposals relating to anti-money laundering. We have …

Latest Shake-up of the Remuneration Provisions for Banks and Investment Firms Part 1: Investment Firms

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 …

OFSI imposes its first monetary penalty — Raphaels Bank sanctions breach

Authors: Daniel Hudson, Partner, London and Daniel Hyde, Associate (Australia), London On 25 February 2019, the UK Government's Office of Financial …

The importance of supply chain due diligence and the risks of modern slavery – OFAC settles North Korean sanctions case with fine

Authors: Kyle Wombolt, Jeremy Birch, Antony Crockett and Emily Purvis. A recent enforcement action by the US Department of the Treasury’s Office of …

FCA fines asset managers in first use of its competition powers

On 21 February 2019, the FCA announced its first decision under its competition enforcement powers, finding three asset management firms have …