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Enforcement action

Set out below are thoughts from Allen & Overy’s market leading investigations team on issues relating to enforcement action taken by the FCA, as well as other regulators in the UK and overseas.

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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The UK FCA reminds firms about the confidentiality of information requirements

The UK Financial Conduct Authority (FCA) chose the latest edition of its Market Watch newsletter to highlight the importance of firms observing the confidentiality restrictions set out in information requirements. Confidentiality restrictions Formal information requirements issued by the FCA typically contain some form of wording to make it clear that they are confidential. However, the Read More

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Australian corporate regulator adjusts its strategic priorities to deal with the pandemic

The Australian Securities and Investments Commission (ASIC) recently released its Corporate Plan for 2020-24, recalibrating its regulatory priorities in the wake of the COVID-19 pandemic. ASIC’s Chair, James Shipton, emphasised that the quality of financial reports is “more important than ever” to inform investors and preserve market confidence. Moreover, a recent Enforcement Report confirms ASIC’s Read More

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How to train your employees on the UK FCA’s Code of Conduct

The UK Financial Conduct Authority (FCA) has highlighted shortcomings relating to firms’ employee training programmes in 32% of the Final Notices that it has published since the start of 2019. With this statistic in mind, firms will no doubt want to compare the training that they provide to their employees on the FCA’s Code of Read More

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