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SEC being forced to change its enforcement approach

In a conversation with A&O partner and former SEC Enforcement Official Bill White, Billy Jacobson explores the Supreme Court’s decision in SEC v. Liu decided in late June 2020, and two other recent Supreme Court decisions which are already having an impact on the SEC’s ability to bring cases going forward. To listen to the podcast click here. Read More

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The long arm of OFAC: U.S. secondary sanctions and English law governed finance agreements

Allen & Overy has published an article on the UK Court of Appeal’s recent decision in Lamesa Investments Ltd v Cynergy Bank Ltd which will be of interest to those involved with sanctions investigations.  The Court of Appeal confirmed that a provision in an English law facility agreement stating that the borrower would not be Read More

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Amid falling markets, valuation challenges and mis-marking fraud risks rise

Amidst a troubled economy and falling public markets, private-equity firms and financial institutions are facing valuation challenges that may spell trouble with United States regulators. In early April, the Wall Street Journal reported that private-equity firms are grappling with how to assess the impact of the current economic turmoil on the value of the illiquid Read More

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Hong Kong Court of First Instance confirms SFC’s powers to seize digital devices and demand passwords

The recent High Court decision of Cheung Ka Ho Cyril v Securities and Futures Commission and another [2020] HKCFI 270 confirmed the powers of the Securities and Futures Commission (SFC) to (i) seize digital devices such as smart phones and tablets in the course of executing a search warrant, and (ii) demand passwords to the Read More

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Part State-owned enterprises and Politically Exposed Persons

The definition of a Politically Exposed Person (PEP) is an important one to understand for those involved in financial crime compliance.  PEPs are considered to be more vulnerable to corruption so those who deal with them are often obliged to exercise a higher degree of caution.  Under UK money laundering laws, dealing with a PEP Read More

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