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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

SEC urges companies applying for filing extensions to guard against increased insider-trading risks under U.S. Federal Securities Laws

Federal regulators in the United States are moving quickly to respond to the Covid-19 coronavirus. As part of its Covid-19 coronavirus relief measures, the SEC now permits companies to apply for 45-day filing extensions In recent weeks, the U.S. Securities and Exchange Commission has implemented new relief measures for companies experiencing difficulties meeting their obligations Read More

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

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

Financial reporting and auditors under the spotlight in Australia

The Australian Securities and Investments Commission (ASIC) has released a review of financial reports from the period ending 30 June 2019. This review, together with ASIC’s recent enforcement update and audit inspection report, highlights one of ASIC’s key priorities – to engage in high deterrence value enforcement actions against corporations and auditors to ensure that Read More

Hong Kong’s Privacy Commissioner for Personal Data – the end of the paper dragon?

At a global panel session on 28 March 2019, the Hong Kong Privacy Commissioner expressed concern that Hong Kong runs the risk of being left behind as “a risky jurisdiction for hosting data”. This could soon change. The Hong Kong’s Constitutional and Mainland Affairs Bureau presented to the Legislative Council on 20 January 2020 a Read More