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Lexology PRO | Canada, European Union, Global, etc. | 18 Jan 2023
Financial crime: key compliance updates (6 – 18 Jan)
US OFAC increases civil penalties to align with inflation, the UK FCA fines two bank subsidiaries for AML failures, and a security business’s CFO pleads guilty to impersonating auditors – plus other key updates.
Lexology PRO | USA | 19 Dec 2022
New FTX CEO calls for increased transparency in crypto space
The new CEO of stricken crypto exchange FTX has described an “utter lack of record keeping and no internal controls whatsoever” at the company ahead of its bankruptcy, saying regulatory attention on the sector in future would have to focus on transparency and the separation of customer funds.
Lexology PRO | Denmark, Estonia, USA | 16 Dec 2022
Estonian branch failings cost Danske US$2.68 billion
In the space of a week, Danske Bank has been handed a US$678 million penalty from a Copenhagen court – the largest fine for money laundering in Danish history – and reached a US$2.06 billion settlement with US and Danish authorities, over a money-laundering scheme operated out of the bank’s former Estonian branch.
Lexology PRO | United Kingdom | 9 Dec 2022
UK FCA hands Santander nine-figure fine for AML faults
The FCA has landed its highest fine of the year against Spanish bank Santander’s UK arm, over failures in its customer due diligence and transaction monitoring.
Lexology PRO | USA | 6 Dec 2022
CFTC chair defends FTX record and asks for more powers
CFTC chair Rostin Behnam has defended his agency’s handling of the FTX debacle before the US senate, calling on it to grant him the statutory authority to oversee crypto firms he said would have averted the collapse.
Lexology PRO | United Kingdom | 29 Nov 2022
How-to guide: How to conduct an internal investigation into bribery allegations (UK)
This guide proposes appropriate steps for your organisation to take when preparing for and carrying out an internal investigation on suspicion of bribery.
Lexology PRO | European Union, Ireland | 24 Nov 2022
EPPO: Ireland refuses to cooperate with European prosecutors
The Irish government denied impeding any investigations after the European Public Prosecutor’s Office claimed the country has “systematically hindered” the prosecuting body’s efforts to protect the EU budget from financial crimes.
Lexology PRO | USA | 18 Nov 2022
Acquitted former Deutsche trader sues bank
Matthew Connolly, whose Libor conviction was overturned in January, says Deutsche Bank made him the “fall guy” and is asking for more than $150 million in damages.
Eversheds Sutherland (International) LLP | United Kingdom | 17 Nov 2022
Checklist: Managing a dawn raid
This checklist will assist in-house counsel and risk and compliance teams with the steps that their organisation should take when dealing with an unannounced inspection or dawn raid.
Lexology PRO | Asia-Pacific, Brazil, Central & South America, etc. | 9 Nov 2022
Anti-corruption and AML: key compliance updates (27 Oct – 9 Nov)
The UK SFO fines Glencore US$319 million after uncovering a US$29 million bribery scheme, the EBA publishes a taxonomy on payment services fraud and Australia updates trade-based ML guidance – plus other key updates.
