Included in this issue: ANTI-MONEY LAUNDERING: US expands its money-laundering probe of Banamex | BRIBERY AND CORRUPTION: UK groups in talks with SFO for bribery plea deals | SFO won forfeiture order at the High Court | Fifa corruption scandal | HEALTH AND SAFETY: International aerospace company guilty of corporate manslaughter | HMRC: HMRC issues consultation paper on strengthening sanctions for tax avoidance | GENERAL: Modern Slavery Act 2015 | Tom Hayes trial
US expands its money-laundering probe of Banamex
The US Department of Justice has expanded its money-laundering investigation into Banamex and Banamex USA, subsidiaries of Citigroup.
Forbes, 27 July 2015
Bribery and Corruption
UK groups in talks with SFO for bribery plea deals
Two UK companies are in discussions with the SFO to strike a plea in order to avoid prosecution in relation to bribery allegations. These would be the first plea deals agreed with the SFO.
The Financial Times, 23 July 2015
SFO won forfeiture order at the High Court
The High Court upholds a forfeiture order sought by the SFO (at the request of US authorities) against $6.8 million linked to the sale of shares in a Canadian energy company.
The FCPA blog, 29 July 2015
Fifa corruption scandal
It has been reported that former Fifa vice president, Jack Warner, plans to file for judicial review against the government of Trinidad and Tobago claiming political bias in the move to extradite him to the USA.
Reuters, 27 July 2015
Health and Safety
International aerospace company guilty of corporate manslaughter
International aerospace company has been found guilty of corporate manslaughter. A contractor working for the company was crushed to death while at work.
Sentencing is scheduled to be held on 31 July 2015.
Cambridgeshire constabulary, 24 July 2015
HMRC issues consultation paper on strengthening sanctions for tax avoidance
HMRC further consults on measures for serial avoiders, serial promoters and how to introduce specific penalties where the General Anti-Abuse Rule applies.
This consultation takes account of and builds on a previous consultation issued by HMRC earlier in 2015. It describes how it intends new measures to work in practice and asks for comments on these details.
HM Revenue & Customs, 22 July 2015
Modern Slavery Act 2015
The new Modern Slavery Act 2015 (the Act), imposes a statutory duty to all "large" businesses to produce an annual statement which sets out the steps taken to ensure that slavery and human trafficking does not form part of the business or supply chain. This will affect businesses which have an annual turnover of over £36 million. The Act is not expected to come into force until after late 2015.
Tom Hayes Trial - found guilty of eight counts of conspiracy
The jury in the trial of former UBS trader, Tom Hayes, found him guilty of committing eight counts of conspiracy to defraud by manipulating global Libor interest rates. He has been sentenced to a total of 14 years in jail.
Sentencing remarks of Mr Justice Cooke: R v Tom Hayes, 3 August 2015