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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 business crime and financial services investigations

SFC Enforcement Trends

Hong Kong’s Securities and Futures Commission (the SFC) recently published its annual report for 2019 to 2020. The report highlights the SFC’s regulatory work for the period dated April 2019 to March 2020 (the 2019/2020 Period). As part of this, the SFC has published information on its enforcement actions, in addition to its regular enforcement Read More

Direct access – a sea change in data gathering in UK/U.S. criminal investigations

A new UK/U.S. bilateral agreement for accessing electronic data in cases of serious crime, which was negotiated and released in autumn 2019, is about to enter into force. The Agreement represents a sea change in cross-border investigations.  The Agreement permits criminal authorities in each country to obtain electronic data directly from a range of telecommunications Read More

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

Update on enforcement risks associated with valuation of illiquid securities and investments

In April, we noted on this blog that increased government enforcement activity around issues of perceived or actual mismarking or over valuation of illiquid securities should be expected in light of recent market turmoil. We have now started to see examples of this type of enforcement. Overvaluation by investment advisory firm On April 28, 2020, Read More

Active U.S. enforcement of anti-money laundering rules continues unabated

In January 2020, the U.S. Department of the Treasury issued its National Strategy for Combating Terrorist and Other Illicit Financing (2020 Strategy). This document details the key priorities of the U.S. government regarding the enforcement of the Bank Secrecy Act (BSA) and its broader agenda on efforts related to anti-money laundering and the combating the Read More