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Cross-border issues

Read Allen & Overy’s latest thoughts on cross-border issues affecting financial services investigations.

Future challenges in economic crime: a view from the SFO

“Future challenges in economic crime: a view from the SFO” was the title of a speech that Lisa Osofsky, Director of the SFO, gave on 8 October 2020. The speech, which touches upon new challenges as well as old ones, also sets out Ms Osofsky’s wish list for the SFO going forwards. A month earlier, Read More

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Hamburg regulator issues EUR 35 million GDPR fine for data privacy breach

GDPR enforcement is a sharp sword, which regulators are starting to make full use of. What is important for your company in light of the enforcement trends discussed in this blog? The Hamburg Data Protection Authority imposed the largest ever GDPR fine in German history on Swedish fashion company H&M on 1 October 2020. According Read More

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Financial Institutions in Singapore to Ensure a Culture of Responsibility and Accountability Applies from the Top Down

The Monetary Authority of Singapore (MAS) has issued its finalised Guidelines on Individual Accountability and Conduct, which will come into effect on 10 September 2021. Most financial institutions regulated by the MAS will be covered by the new Guidelines. They will accordingly need to clearly identify and delineate the responsibilities of senior management and material Read More

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The French anti-corruption policy: more settlements with corporations and harsher prosecutions against individuals

Recent guidelines from the French Minister of Justice reveal a heightened willingness of French authorities to combat corruption-related offences and to prosecute more individuals. The guidance, contained in a Circular, also strongly encourages corporations to voluntarily self-disclose internal suspicions of corrupt practices. A call for self-reporting The Circular calls for self-reporting by corporations, stressing that Read More

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Regulatory focus on senior management accountability in Asia – a victim of Covid-19 coronavirus?

For many years, regulators across the globe have been extolling the importance of senior management accountability and an appropriate culture for financial institutions. In the Asia-Pacific region, the Securities Futures Commission (SFC) led the vanguard with the introduction of its Manager In Charge regime in 2017. This was followed by regulators in Australia and Singapore Read More

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