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

Financial and economic crime in the UK: what’s on the horizon

Calum Macdonald

The past month has seen the promise of yet more developments to the UK’s ever-evolving financial and economic crime framework. In particular, the FCA has published proposed amendments to its Financial Crime Guide and the influential Treasury Select Committee has announced an inquiry into economic crime. Meanwhile, the UK’s recently enhanced economic crime toolkit is deployed Read More

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

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

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

Market abuse controls: Global approaches vs. local requirements – which one wins?

Sarah Hitchins

The UK FCA recently imposed a financial penalty of just over £1 million on an online brokerage firm for failing to have adequate controls to identify and report potential market abuse. Each of the FCA’s findings can be traced back to one root cause: reliance on a global approach to identifying and reporting market abuse, Read More