Cross-border issues

Read Allen & Overy’s latest thoughts on cross-border issues affecting financial services investigations.

Australian agencies responsible for the enforcement of foreign bribery laws release self-reporting guidelines

Edward Einfeld

The Australian Federal Police (AFP) and the Commonwealth Director of Public Prosecutions (CDPP), the Australian government agencies responsible for investigating and prosecuting foreign bribery, have recently released joint best practice guidelines that indicate how they will approach self-reporting of foreign bribery and related offences by corporations (the Guidelines). The Guidelines seek to provide greater clarity Read More

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The SEC Enforcement Landscape: What to Watch in 2018

Kurt Wolfe

Last year was something of a transitional year at the U.S. Securities and Exchange Commission (“SEC” or the “Commission”) and changes are now taking shape that will figure prominently on the SEC enforcement landscape in the coming year. Among them are the influence of new leadership, new enforcement priorities and programs, and new case law. Read More

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Revisiting cooperation with the Hong Kong SFC: A carrot not a stick?

Matt Bower

At the end of last year, the Hong Kong Securities and Futures Commission (the SFC) published updated guidance on cooperation (the Guidance) in disciplinary, civil court and Market Misconduct Tribunal (MMT) proceedings. Much of the guidance is neither new nor will surprise the market. However, formal discounts for early settlement will be welcomed, while its Read More

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DOJ’s new FCPA Corporate Enforcement Policy: Companies have greater incentives to disclose, but caveats remain

Alexander Calthrop

On November 29, 2017, the U.S. Deputy Attorney General, Rod Rosenstein, announced the Department of Justice’s new FCPA Corporate Enforcement Policy. The Policy is similar to the FCPA Pilot Program announced last year (discussed here), but goes further in the potential rewards it offers companies that self-disclose FCPA-related misconduct. Rosenstein said he hoped the Policy Read More

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Clarification on regulatory expectations and enforcement actions by the Hong Kong Securities and Futures Commission

Fai Hung Cheung

On 21 November 2017, the Hong Kong Securities and Futures Appeal Tribunal (Tribunal) issued a much awaited determination in respect of a private bank’s review of disciplinary action taken against it by the Hong Kong Securities and Futures Commission (SFC) in July 2015. The determination clarifies the murky area of fines and sanctions by the Read More

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