Welcome to Allen & Overy’s Investigations Insight blog, sharing with you our views and insights into the latest trends, risks and developments in financial services investigations
Second Circuit Narrows FCPA’s Reach Yet Enforcement Risk Remains
04 September 2018 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
FCA annual report 2017/18: Enforcement highlights
20 July 2018 Sarah Hitchins
Yesterday afternoon the UK Financial Conduct Authority (the FCA) published its Annual Report. Alongside the Annual Report, the FCA also published its usual Enforcement Annual Performance Report (the Report), which sets out an overview of the FCA’s enforcement activities during 2017/18. Set out below are some of the key points highlighted by the Report. › Read More
The Sanctions and Anti-Money Laundering Act 2018: The UK Sanctions and AML regimes after Brexit
27 June 2018 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
Know Your GDPR: self-reporting and enforcement considerations for contentious regulatory lawyers
14 June 2018 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
Crypto-crime: The new risks of financial crime in the time of cryptoassets
13 June 2018 Vincent Liu
The UK Financial Conduct Authority (the FCA) has turned its attention to the prospective criminal dangers of cryptoassets in a letter addressed to the CEOs of the banking industry. This letter follows the FCA’s response to a freedom of information request in May that revealed the financial regulator is investigating 24 businesses that deal with › Read More