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Welcome to Allen & Overy’s Investigations Insight blog, sharing with you our views and insights into the latest trends, risks and developments in financial services investigations
16 November 2017 Todd Fishman
Item 303 of SEC Regulation S-K requires registrants to disclose “any known trends . . . events or uncertainties . . . that will result in . . . the registrant’s liquidity increasing or decreasing in any material way[.]” The purpose of Item 303 is to require disclosure of company management’s discussion and analysis of › Read More
01 November 2017 Charlotte Robins
On 16 October 2017, the Hong Kong Monetary Authority (HKMA) announced the introduction of a new Management Accountability Initiative (MAI) aimed at increasing the accountability of the senior management of Hong Kong registered institutions (RIs). The MAI, effective from 16 March 2018, requires every RI to identify (and disclose to the HKMA and the SFC) › Read More
17 October 2017 Kurt Wolfe
The Enforcement Division of the U.S. Securities and Exchange Commission recently announced the formation of a dedicated “Cyber Unit” that will focus on detecting and prosecuting cyber-related misconduct. (1) The announcement follows several statements by high-ranking SEC officials that stress the programmatic importance of cyber enforcement. For example, in a recent interview with Reuters, › Read More
25 August 2017 Kurt Wolfe
The SEC recently approved a $2.5 million whistleblower award to “an employee of a domestic government agency whose whistleblower tip helped launch an SEC investigation and whose continued assistance enabled the SEC to address a company’s misconduct.” The award is noteworthy because of the source of the tip—a government employee—and because it is a first-of-its-kind › Read More
09 August 2017 Stacey McEvoy
Financial institutions engaged in cross-border business are increasingly at risk of being caught in the middle of a complex web of internal, regulatory and criminal investigations as well as civil litigation and employment claims when something has gone wrong. These may be conducted simultaneously or at different times, but they will often arise out of › Read More