Reform

Pressure mounting for new failure to prevent economic crime corporate criminal offence

Eve Giles

“Multi-national firms appear beyond the scope of legislation designed to counter economic crime.” This was the damning conclusion of a House of Commons Treasury Committee report on Economic Crime published last week. Those hoping that the UK government has forgotten about its manifesto commitment to reform corporate liability for economic crime will be disappointed. Recent Read More

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What are the key themes in the Final Report of the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry?

Jason Denisenko

The final report (the Report) of the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal Commission) was released on 4 February 2019. The Report provides 76 specific recommendations to the Government, the financial sector, and financial regulators to redress the misconduct revealed by the inquiry. These recommendations reflect Read More

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Second Circuit Narrows FCPA’s Reach Yet Enforcement Risk Remains

Melinda Bothe

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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The Sanctions and Anti-Money Laundering Act 2018: The UK Sanctions and AML regimes after Brexit

Calum Macdonald

  When the Sanctions and Anti-Money Laundering Act 2018 was first proposed, the expectation was that it would enable the UK to maintain the status quo after it leaves the EU in the areas of sanctions and anti-money laundering and no more. However, now the Act is law, the position is not quite that simple. Read More

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Know Your GDPR: self-reporting and enforcement considerations for contentious regulatory lawyers

Stacey McEvoy

With the recent implementation of the General Data Protection Regulation, many financial services institutions are asking themselves what it may mean from a more traditional financial services regulatory perspective, particularly in terms of firms’ ever-present reporting obligations. A&O has recently published a detailed guide to the GDPR for Litigators which deals with questions relating to Read More

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