Reform
23 December 2019 - Post by:
The Australian Law Reform Commission (ALRC) has authored a discussion paper into criminal responsibility in Australia. Amongst other things, the paper proposes reforms to how liability is attributed to corporations and their senior executives. The discussion paper follows several inquiries into corporate behaviour and regulation, including the recent Royal Commission into Misconduct in the Banking, › Read More
Sanctions post-Brexit – avoid traps for the unwary
17 December 2019 - Brexit , Financial sanctions Post by:
A new UK sanctions regime in a hard Brexit scenario is expected to broadly mirror that which is in place in the EU. However, there will be some key differences. Businesses should be alert to these differences in order not to breach any post-Brexit new UK sanctions or existing EU sanctions. There are some real › Read More
A steady hand on the tiller: how to build operational resilience
13 December 2019 - Post by:
In a financial services sector heavily reliant on technology and subject to increasing numbers of cyber-attacks, how can firms hope to avoid operational disruption? This is the focus of a suite of consultation papers published on 5 December by the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA), and the Bank of England. Although › Read More
Pressure mounting for new failure to prevent economic crime corporate criminal offence
15 March 2019 - Post by:
“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
06 March 2019 - Post by:
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