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.
10 November 2020 - Post by:
The SFO has concluded a deferred prosecution agreement with Airline Services Limited (ASL), a UK supplier of aircraft cabin parts and services, for failure to prevent bribery under s7 Bribery Act 2010. Despite the company having received external legal advice on ABAC policies and procedures, it had failed to implement the recommendations adequately: Serious Fraud › Read More
Legal resilience: lessons learnt from recent crises
29 October 2020 - Post by:
Back in March, many of my colleagues were fielding urgent and complex Covid-related legal queries. Many of the questions were familiar to those who remembered other recent crises, and caused us to think about what organisations could learn about legal resilience, including around dealing with regulators and compliance issues. This has resulted in A&O’s very › Read More
Future challenges in economic crime: a view from the SFO
16 October 2020 - Post by:
“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
Hamburg regulator issues EUR 35 million GDPR fine for data privacy breach
12 October 2020 - Post by:
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
The UK FCA reminds firms about the confidentiality of information requirements
15 September 2020 - Post by:
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