Reform – International
DFS Proposes First-in-the-Nation Cybersecurity Regulation
03 November 2016 - Kurt Wolfe
In September, New York’s Department of Financial Services (DFS) proposed a new first-in-the-nation regulation that would require banks, insurance companies, and other financial services institutions regulated by DFS (‘covered institutions’) to ‘establish and maintain a cybersecurity program designed to protect consumers and ensure the safety and soundness of New York State’s financial services industry’. In › Read More
Bitcoin theft: Regulatory response to an emerging technology
31 August 2016 - Ryan Middlemas
The recent theft of approximately US$60m worth of bitcoins from Hong Kong based cryptocurrency exchange Bitfinex is the latest in a series of Bitcoin thefts. The value of bitcoins fell over 20% in the immediate aftermath of the incident. The theft highlights the continuing legal and regulatory uncertainty in relation to cryptocurrencies. While some jurisdictions › Read More
The real-world impact of the Yates Memo
11 August 2016 - Kurt Wolfe
In September 2015, the U.S. Department of Justice (DOJ) released its policy on Individual Accountability for Corporate Wrongdoing—better known as the “Yates Memo”—which is ‘designed to ensure that individual accountability is at the heart of [DOJ’s] corporate enforcement strategy’. (Investigations Insight has posted a number of helpful pieces on the Yates Memo.) I recently published an › Read More
Settlement opportunities in France: Change on the horizon?
07 July 2016 - Dan Benguigui
Legislation recently (or about to be) adopted in France will strengthen the French legal systems’ opportunities to settle white collar investigations. The “Sapin II” Bill Named after France’s Minister of Finance, Michel Sapin, the bill adopted by France’s National Assembly on 14 June 2016 and currently examined by the Senate, will introduce a new › Read More
Under fire? The FCA’s treatment of whistleblowers
07 June 2016 - Sarah Hitchins
The UK’s Financial Conduct Authority (FCA) has been pretty vocal about its expectations about how firms should treat whistleblowers. However, it looks like the tables have been turned on the FCA. Both the Treasury Select Committee and the Complaints Commissioner have recently questioned the FCA’s own approach to handling whistleblowers. Whistleblowers: A valuable resource › Read More