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Cross-border issues

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

Dubai Financial Services Authority Business Plan 2021/22: key messages for litigators and contentious regulatory lawyers

The Dubai Financial Services Authority (DFSA) has published its Business Plan for 2021/22 (the Business Plan) setting out its areas of focus for the upcoming financial year. Here we provide the key highlights, with particular focus on the matters that are of most relevance to litigators and DFSA-regulated institutions.   Strategic themes for managing risks Read More

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SFO rebuked for overreaching: no power to seek overseas documents from non-UK companies

The Supreme Court has decided the Serious Fraud Office does not have the power to issue a section 2 notice to a non-UK company with extraterritorial application.  It can, however, continue to compel production of documents held extraterritorially by UK companies: The Queen on the application of KBR Inc v The Director of the Serious Read More

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Future challenges in economic crime: a view from the SFO

“Future challenges in economic crime: a view from the SFO” was the title of a speech that Lisa Osofsky, Director of the SFO, gave on 8 October 2020. The speech, which touches upon new challenges as well as old ones, also sets out Ms Osofsky’s wish list for the SFO going forwards. A month earlier, Read More

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Hamburg regulator issues EUR 35 million GDPR fine for data privacy breach

GDPR enforcement is a sharp sword, which regulators are starting to make full use of. What is important for your company in light of the enforcement trends discussed in this blog? The Hamburg Data Protection Authority imposed the largest ever GDPR fine in German history on Swedish fashion company H&M on 1 October 2020. According Read More

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Financial Institutions in Singapore to Ensure a Culture of Responsibility and Accountability Applies from the Top Down

The Monetary Authority of Singapore (MAS) has issued its finalised Guidelines on Individual Accountability and Conduct, which will come into effect on 10 September 2021. Most financial institutions regulated by the MAS will be covered by the new Guidelines. They will accordingly need to clearly identify and delineate the responsibilities of senior management and material Read More

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