FSR and Corporate Crime Notes

Court of Appeal confirms borrower’s right to withhold payment under English law Tier 2 Capital facility agreement where risk of US secondary sanctions

OFAC, State Department, and Coast Guard Issue New Guidance About Sanctions Evasion Practices in Shipping Industry

On May 14, 2020, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the US Department of State, and US Coast Guard issued a …

COVID-19: Temporary bans on short selling in the EU come to an end

Those national regulators in the EU which had put in place temporary restrictions on any short selling of securities admitted to trading on regulated …

Corporate Crime update - Spring 2020

The month ahead in financial services regulatory developments…

OFAC Issues Finding of Violation — but No Penalty — for Sanctions Violations Caused by Compliance System Defects and Human Error

On April 30, 2020, the US Department of Treasury (“Treasury”)’s Office of Foreign Assets Control (“OFAC”) issued a Finding of Violation to …

COVID-19: Pressure Points: Impact on UK criminal investigations & justice system

German Ministry of Justice releases official draft Corporate Sanctions Act

Germany is progressing towards a corporate sanctions law addressing the criminal conduct of companies, regarding executive bodies, managers and employees …

OFSI imposes fourth monetary penalty in respect of financial sanctions

COVID-19: Short selling restrictions and other reporting developments in the EU

[This post was last updated on 16 April 2020 to reflect the extensions to the temporary bans on short selling by EU national regulators] SHORT SELLING …

The month ahead in financial services regulatory developments…