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FSR and Corporate Crime notes Blog

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Transparency International publishes CPI 2023

United Kingdom - February 19 2024 On 30 January 2024, Transparency International (“TI“) published the Corruption Perceptions Index 2023 (“CPI“). The CPI, which is the most widely used…

President Biden Signs the FEPA, Signalling Increased Efforts to Combat Foreign Bribery

USA - February 6 2024 On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (FEPA) as part of the National Defense Authorization Act…

EEA UCITS operators take note: the Overseas Funds Regime to start by the end of 2026

European Union, United Kingdom - February 5 2024 Last week, the government announced its first equivalence decision under s271A of the Financial Services and Markets Act 2000 (FSMA), finding the EEA…

Higher fines and early settlement - the future of UK PRA Enforcement?

United Kingdom - February 2 2024 As the Bank of England finalises its new Approach to Enforcement, we have taken a closer look at the implications for PRA enforcement cases and the…

Funds Update - 2 February 2024

Australia - February 2 2024 On 12 January 2024, Treasury released the Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (Exposure Draft Legislation)…

The EU Anti Money Laundering Authority and the AML reform package: an update

European Union, United Kingdom - January 22 2024 In July 2021, the European Commission presented a package of legislative proposals designed to combat money laundering, terrorist financing and the…

Tackling APP Fraud in the UK: where to next?

United Kingdom - January 16 2024 At the end of 2023, the UK Payment Systems Regulator (PSR) published its final position on the authorised push payment (APP) fraud reimbursement…

Economic Crime and Corporate Transparency Act 2023: Jurisdictional scope of the Failure to Prevent Fraud Offence

United Kingdom - January 16 2024 The Economic Crime and Corporate Transparency Act 2023 (the ECCTA) received Royal Assent in October 2023. Among other reforms, the ECCTA introduced a…

OFSI publishes Annual Review 2022-23

Russia, United Kingdom - January 12 2024 On 14 December 2023, HM Treasury’s Office of Financial Sanctions Implementation (“OFSI“) published its Annual Review for the 2022-23 financial year…

Domestic PEPs: “officially” lower risk as of today

United Kingdom - January 10 2024 Today, 10 January 2024, sees the commencement of the Money Laundering and Terrorist Financing (Amendment) Regulations 2023 (Amending Regulations)…