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Cross-border issues

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

Cross-border information sharing within corporate groups

The UK HM Treasury and Home Office have issued a joint statement and guidance on cross-border information-sharing within corporate groups for the purpose of combating economic crime. Echoing the previous sentiments of the Economic Crime Plan 2019, the guidance makes clear that effective and diligent practice in intra-group cross-border data sharing is critical for identifying Read More

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Current and emerging issues for in-house investigations lawyers

The Allen & Overy Cross-Border White Collar Crime and Investigations Review, reviews recent developments from ten jurisdictions and highlights our global investigations lawyers’ selection of the ten most significant current and emerging issues for in-house investigations lawyers. The selection includes the need to tread very carefully when authorities from a number of jurisdictions are involved.  Read More

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Second Circuit Narrows FCPA’s Reach Yet Enforcement Risk Remains

The Second Circuit recently ruled that the general criminal statutes of conspiracy and complicity cannot be used to draw non-U.S. persons or companies within the jurisdiction of the Foreign Corrupt Practices Act (the FCPA) where their conduct would not otherwise fall within the statute’s ambit. That is, prosecutions under the FCPA cannot be brought against Read More

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Singapore: Adding to the alphabet soup of accountability regimes

Australia has its BEAR (Banking Executive Accountability Regime), Hong Kong its MCR and MAI (Manager-in-Charge Regime and Management Accountability Initiative) and the UK its SMCR (Senior Managers and Certification Regime). To this alphabet soup of accountability regimes will be added Singapore’s Guidelines on Individual Accountability and Conduct (Guidelines). Financial institutions doing business in two or Read More

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ASIC’s new Chairman promotes ASIC’s enforcement record and outlines his proposed approach to steadying the ship in choppy waters

The new Chairman of the Australian Securities and Investments Commission (ASIC), James Shipton, has welcomed the work of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Financial Services Royal Commission) and noted that many of the matters that have been raised have already been, or continue to be, the subject Read More

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