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Financial Crime

Summer 2021 articles


1. Prosecutors’ New Weapon In Cross-Border Investigations - US prosecutors routinely seek bank records while conducting white-collar investigations - Read here

2. The ‘zero-tolerance’ policy - An insight into the UAE’s continuous efforts to combat corruption during unprecedented times - Read here

3. The future of US Sanctions Policy - There has been much speculation around how the Biden administration will approach sanctions policy - Read here


Operational Resilience, Fintech, Cyber Security and Outsourcing

Summer 2021 articles


1. UK implements EU outsourcing rules – the PRA has published its final rules on outsourcing which must be implemented by March 2022 - Read here

2. UK’s central bank and regulators - Publish final guidance on operational resilience for financial institutions, offering some relief - Read here

3. Lessons learnt from an unparalleled 12 months of volatility - Key lessons from 2020 to help navigate the future of cybersecurity and data privacy - Read here

FS Disputes Trends

Summer 2021 articles


1. FCA Test Case – Supreme Court Judgment - Supreme Court Broadens Circumstances in which Covid-19 BI Policyholders can recover - Read here

2. FCA Guidance Consultation on Cancellations and Refunds due to Covid-19 - In June 2020 the FCA published statements to help consumers identify how they can attempt to claim a refund if they have had an event or travel plan cancelled - Read here

3. COVID-19 vaccine fraud on the increase - With the continuing roll out of the COVID-19 vaccine, we consider the reports of fraud and scams being perpetrated against the public and businesses - Read here


Investigations and Enforcement

Summer 2021 articles


1. Anti-money laundering - The efforts of the Financial Action Task Force (FATF) has driven countries into a cycle of continue assessment and evaluation, improvement and enhancements - Read here

2. Legal privilege – It is important for firms to fully appreciate the nature of legal privilege and what protection it can afford them - Read here

3. Developing scrutiny from regulators with regards to data breaches in Hong Kong – A number of recent major breaches has raised concerns about the lack of a mandatory notification policy - Read here


Governance, Culture and Individual Accountability

Summer 2021 articles


1. Singapore’s Individual Accountability and Conduct Guidelines - On 10 September 2021, the Individual Accountability and Conduct Guidelines (Guidelines) introduced by the Monetary Authority of Singapore (MAS) will come into effect - Read here

2. Restoring Trust in Audit and Corporate Governance – In March 2021 the Department of Business, Energy & Industrial Strategy (BEIS) published a white paper. The Government’s proposals are directly relevant to companies and their directors - Read here

3. The role of INED - What are regulators’ expectations of independent non-executive directors (INEDs) of regulated financial services firms? - Read here

4. General Scheme of the Central Bank (Individual Accountability Framework) published - On 27 July, the Minister for Finance, Paschal Donohoe, announced the publication of the new General Scheme to give effect to a new Individual Accountability Framework, including the Senior Executive Accountability Regime (“SEAR”) Read here