FATF extends assessment deadlines in response to COVID-19
The Financial Action Task Force (FATF) announced that it will pause the review process for high-risk jurisdictions (aka “grey list”...
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FCA issues statement on financial crime checks for small business loans
The FCA states that it recognises the need to balance financial crime checks with getting money to businesses in need. Therefore existing...
FCA warning to banks on treating corporate customers fairly when they are preparing to raise equity finance
The Financial Conduct Authority (FCA) has issued a stern Dear CEO letter warning banks to treat corporate customers fairly when they are...
Tumultuous times, but time to plan for growth? The utility of programmatic JVs for European real estate investment
These are obviously strange and unsettling times for all markets and real estate is no different.
However, in the midst of them, a...
Looking beyond the crisis
Since the full force of the COVID-19 outbreak began to be felt, collaboration has replaced adversarial and sometimes antagonistic...
Priming debt, the new equity injection?
As global lockdown measures trigger revenue losses across a broad range of sectors, private equity sponsors are actively assessing means...
Congratulations to my partner Geoff Atkins and the rest of Global Investigation Review's 40 Under 40
Proud to see Geoff included in this prestigious list and could not agree more with the below quotes from David Reintjes, General Counsel...
FCA follows ESMA statement and provides extension to AIFMs for publication of annual reports
The FCA today followed the statement issued by ESMA and provided fund managers of alternative investment funds with a two month extension...
Better transparency through ESG reporting standards, despite COVID-19
Even as businesses continue to grapple with the fallout from COVID-19, bottom-up pressure has continued to build from large asset...
The people's flag is deepest...green
The change in Labour leadership has been slightly lost in the coverage of coronavirus. However, Sir Keir Starmer’s election could lead to...
Data analytics and statistical modeling must be adapted and repeated to achieve true value
Forensic Risk Alliance (FRA) has written an interesting analysis about COVID-19 modeling and statistics, noting that some are too quick...
OFAC announces it will take COVID-19-related reporting delays and risk assessments into consideration
The US Office of Foreign Assets Control (OFAC) stated that it “understands that the COVID-19 pandemic can cause technical and resource...
Could fully remote jury trials become a reality?
The campaign group, Justice, has tested the extent to which a virtual trial could be a fair alternative to in-person hearings during the...
US issues fact sheet on humanitarian exemptions to sanctions
The US Office of Foreign Assets Control has released a fact sheet on the most relevant exemptions, exceptions, and authorisations for...
Judith Seddon named a Who's Who Legal Global Elite Thought Leader 2020
Congratulations to my good friend and partner Judith Seddon for being named a Global Elite Thought Leader 2020 for both Business Crime...
FCA updates its guidance on expectations for funds as a result of COVID-19
The FCA has updated its previous guidance on its expectations for funds as a result of COVID-19 (see our previous update).
Of particular...
US issues guidance on North Korean cyber threat
A group of US agencies have issued an advisory detailing the ways North Korea has sought to use cybercrime and cyber attacks to earn...
COVID-19 pressure leads HMRC to place investigations on hold
As it pivots towards administering the schemes aimed at helping businesses and individuals through the COVID-19 crisis, press reports...
FCA warns insurers to act quickly and fairly on business interruption insurance claims for SMEs
The FCA has written a "Dear CEO" letter to insurance firms setting out its expectations of conduct in relation to business interruption...
More green fire power with more green rules? European Commission consultation launched
The European Commission has launched a consultation on its renewed sustainable finance strategy. Comments are due by 15 July on potential...
Heightened money laundering risks in the COVID-19 era
The FCA's recent Dear CEO letter set out its approach to a number of issues affecting retail investors, in order to provide some guidance...
CPS issues guidance on the application of the Public Interest test during the COVID-19 crisis
Urgent need for anti-corruption measures in IMF response to COVID-19 crisis
Transparency International, Human Rights Watch and Global Witness have written to the IMF Executive Board reminding them that...
ESMA issues public statement for fund managers on the deadline for publication of annual reports
On 9 April, ESMA issued a public statement for fund managers in relation to the deadlines for publication of their annual reports in the...
First successful challenges to UK unexplained wealth orders
The High Court has ordered that three unexplained wealth orders (UWOs) obtained by the UK National Crime Agency (NCA) should be...
The response to COVID-19 highlights the tensions between the desire to track data and data protection laws
Desperate times may call for desperate measures as the old adage goes, but in the desire to track and respond to the COVID-19, law makers...
Tax residence in the time of COVID-19
Some fund executives who have lived a pattern of international travel to attend various board meetings may be secretly relieved by the...
FCA issues guidelines in relation to funds and COVID-19
On 6 April the FCA published a webpage setting out its expectations on funds in light of COVID-19. The page includes some helpful...
FCA expectations of solo-regulated firms re SMCR
The Financial Conduct Authority has issued a statement setting out its expectations in the current crisis for solo regulated firms...
FATF statement on COVID-19 and measures to combat illicit finance
The Financial Action Task Force (FATF), the global standard setter for AML/CFT, released a statement addressing COVID-19 related...
FinCen issues further compliance guidance for banks
Following on from its 16 March guidance, the Financial Crimes Enforcement Network (FinCen) has released more detailed guidance for banks...
Serious fraud is lower priority during COVID crisis
New guidance has set out which new offences should be "fed into the system and how those offences are progressed." Offences are...
FCA provides firms flexibility in notifications and KYC
The Financial Conduct Authority (FCA) has sent a letter to heads of retail financial services firms recognising the need for some changes...
'Financial crime remains unacceptable' according to EBA statement
The European Banking Authority (EBA) issued a statement on 31 March titled, "actions to mitigate financial crime risks in the COVID-19...
UK's landmark group claim for compensation under data protection laws - Morrison's found not vicariously liable for actions of rogue employee
A landmark group claim for compensation under data protection laws in the UK between employees and employer has failed. The UK's Supreme...
Fraud in the time of COVID-19
Fraudsters are willing to exploit fear arising from the coronavirus crisis - including by offering unlicensed testing kits for COVID-19...
US presents transition and sanctions relief plan for Venezuela
The US has presented a 'Democratic Transition Framework for Venezuela' which proposes that both Maduro and Guaido would step down and...
Cash is king
Having enough liquidity in a business is always important, but in a crisis it becomes fundamental. If you are managing or advising a...
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