Reform

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

Edward Einfeld

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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Mind your step: Hong Kong SFC warns of cryptocurrency and ICO risks

Jeffrey Huang

Hong Kong has not followed China and other jurisdictions in effectively banning cryptocurrency trading and initial coin offerings (ICOs). However, the government and regulators are monitoring developments to guard against efforts to circumvent regulatory requirements in pursuit of market protection. The potential risks and related regulatory concerns relating to cryptocurrency exchanges and investing in ICOs Read More

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Australian agencies responsible for the enforcement of foreign bribery laws release self-reporting guidelines

Edward Einfeld

The Australian Federal Police (AFP) and the Commonwealth Director of Public Prosecutions (CDPP), the Australian government agencies responsible for investigating and prosecuting foreign bribery, have recently released joint best practice guidelines that indicate how they will approach self-reporting of foreign bribery and related offences by corporations (the Guidelines). The Guidelines seek to provide greater clarity Read More

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Using artificial intelligence to fight financial crime – a legal risk perspective

Ian Rodgers

The Head of the Financial Crime Department at the UK Financial Conduct Authority (the FCA), Rob Gruppetta, gave a speech on “Using artificial intelligence to keep criminal funds out of the financial system” in December 2017. In it, he explored how artificial intelligence (AI) could potentially be used to prevent financial crime, and for anti-money Read More

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UK National Economic Crime Centre: a period of stability for UK economic crime, but is it enough?

Christian Parker

In December 2017, the UK Government announced creation of a new National Economic Crime Centre (NECC) as part of the Government’s Anti-Corruption Strategy (ACS). Amber Rudd’s announcement outlined that the UK will introduce a multi-agency NECC, and formalised the UK’s approach to economic crime, in an attempt to ensure the UK maintains its “reputation as Read More

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