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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
29 June 2017 Kurt Wolfe
The U.S. Supreme Court recently ruled, in Kokesh v. SEC, that a five-year statute of limitations applies to claims for disgorgement in SEC enforcement proceedings. It is an important decision that is likely to impact the SEC’s enforcement program, particularly in Foreign Corrupt Practices Act (FCPA) cases. Below, we suggest five changes that are likely to › Read More
28 June 2017 Blair Keown
The Consumer Rights Act 2015’s (the Consumer Rights Act) introduction of a regime in the United Kingdom (UK) for opt-in and opt-out collective proceedings has been well publicised. The availability of a procedural mechanism through which private competition law claims can be pooled and pursued by an authorised representative may well heighten the litigation risk › Read More
08 June 2017 Rebecca Delfiner
When is a penalty a “penalty,” and why does it matter? The question is whether SEC-mandated disgorgement of illicit profits is a “penalty” under the law, and the decision is Kokesh v. SEC. Why do we care? A “penalty” is subject to a five-year statute of limitations under 28 U.S.C. §2462. Per a unanimous panel, › Read More
07 June 2017 Kurt Wolfe
Things went conspicuously quiet at the SEC’s Office of the Whistleblower after President Trump took office. Over the past several weeks, however, there have been a number of interesting developments at the Whistleblower Office, which remind us that the SEC’s whistleblower program is still up and running. In this blog, we take a look at › Read More
31 May 2017 Blair Keown
The Conservative Party has pledged in its manifesto to incorporate the Serious Fraud Office (SFO) into the National Crime Agency (NCA). As Home Secretary, Theresa May twice tried unsuccessfully to restructure the SFO. In 2011, she proposed sending the SFO’s investigators to the NCA and its prosecutors to the Crown Prosecution Service. In 2014, reports › Read More