The D.C. Circuit has approved a backdoor challenge to the validity of an international arbitration award, finding that a challenge to counsel's authority to enforce an award can never be forfeited....more
In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The...more
The Situation: The Australian Federal Parliament has passed the Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 ("Act"), some six years after a bill to create a 'failure to prevent' foreign bribery offence...more
The recent District of Columbia District Court's decision against Lima demonstrates deference to arbitral tribunals....more
The Situation: On January 12, 2024, the United Kingdom signed up to the Hague Convention of July 2, 2019, on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters ("Hague 2019")....more
Foreign Corrupt Practices Act (“FCPA”) enforcement continues to slowly rebound from pre-pandemic levels. In 2023, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) resolved 13 corporate FCPA...more
The Situation: After a year of debate, the Economic Crime and Corporate Transparency Act (the "Act") was passed into law on 26 October 2023....more
11/7/2023
/ Corporate Crimes ,
Corporate Entities ,
Corporate Governance ,
Corporate Transparency Act ,
Criminal Liability ,
Failure to Prevent ,
Financial Crimes ,
Fraud ,
Investigations ,
Regulatory Agenda ,
UK ,
UK Bribery Act ,
White Collar Crimes
In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area...more
10/18/2023
/ CFTC ,
Compliance ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Department of Justice (DOJ) ,
Electronic Communications ,
Financial Industry Regulatory Authority (FINRA) ,
Guidance Update ,
Instant Messaging Apps ,
Mobile Devices ,
Policies and Procedures ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes ,
Workplace Communication
On July 18, 2023, the French Anticorruption Agency ("FAA") published its 2022 annual activity report. The report detailed key figures related to the inspections carried out by the agency, as well as the lessons to be learned....more
The U.S. Supreme Court held that a foreign plaintiff can sue a domestic U.S. judgment-debtor under the Racketeer Influenced and Corrupt Organizations Act ("RICO") for the debtor's fraudulent domestic efforts to avoid...more
While there are a number of ways in which organizations may become aware of potential wrongdoing internally, perhaps the most significant for its legal and compliance teams is internal reporting, or “whistleblowing,” by...more
5/15/2023
/ Cross-Border ,
Cross-Border Transactions ,
Employment Rights Act ,
EU ,
Financial Conduct Authority (FCA) ,
Foreign Nationals ,
Securities and Exchange Commission (SEC) ,
UK ,
United Arab Emirates (UAE) ,
Whistleblower Protection Policies ,
Whistleblowers
The Court held that the Foreign Sovereign Immunities Act ("FSIA") does not apply to criminal prosecutions, but left open the possibility that instrumentalities of foreign states may have common law immunity from prosecution....more
In Short -
The Situation: Insolvency officeholders increasingly find their investigations into a company's affairs frustrated by the comingling of records on a "group" server. Claims to privilege by other group entities (or...more
2/8/2023
/ Commercial Bankruptcy ,
Corporate Counsel ,
Creditors ,
Debtors ,
Discovery ,
Evidence ,
Fraud and Abuse ,
Insolvency ,
Investment Fraud ,
Ponzi Scheme ,
Privileged Documents ,
Serious Fraud Office (SFO) ,
UK
As described in the first White Paper in this series on internal investigations, "Conducting an Effective Internal Investigation—An Overview," corporations are under increased scrutiny by regulators across the globe, and as a...more
With developments in the investigations field, including the ongoing expansion of this field internationally, companies face an unprecedented level of scrutiny from outside parties, including government agencies, and are...more
In Short -
The Situation: Following years of lobbying by senior prosecutors and other commentators, the UK government seems set to introduce an offence of a corporate failing to prevent economic crime....more
In Short -
The Situation: On September 13, 2022, the United Arab Emirates ("UAE") Ministry of Justice ("MoJ") sent a letter to the Dubai courts stating that the MoJ considers the recent UK High Court decision in Lenkor...more
In Short The Situation: As businesses continue to grapple with realising the value of business and assets which are potentially impacted by sanctions related to Russia's war in Ukraine, an English company recently utilised...more
In Short -
The Situation: Dubai Decree No. 34 of 2021 (the "Decree") was issued on 14 September 2021 and became effective on 20 September 2021. The Decree cancelled—with immediate effect—two arbitration institutions in...more
10/14/2021
/ Arbitration ,
Arbitration Agreements ,
Business Disputes ,
Commercial Litigation ,
DIFC ,
Dubai ,
Implementing Decrees ,
LCIA ,
Mediation ,
Regulatory Agenda ,
Regulatory Reform ,
Rulemaking Process ,
United Arab Emirates (UAE)
In This Issue:
Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements -
Section 365(h) of the Bankruptcy Code provides special protection for tenants if a...more
The deal reached between HM Government and the European Union on December 24, 2020, does not include any framework for the coordination and mutual recognition of cross-border insolvencies and restructurings. For the purposes...more
The Issue: The UK Supreme Court was asked to decide whether section 2 of the Criminal Justice Act 1987 granted the Serious Fraud Office ("SFO") powers to compel the production of documents held outside the United Kingdom. ...more
On 31 August 2020, the Australian Law Reform Commission's Final Report on Corporate Criminal Responsibility was tabled in Parliament. The Final Report makes significant recommendations for reform of corporate criminal...more
10/12/2020
/ Anti-Corruption ,
Australia ,
Board of Directors ,
Bribery ,
Corporate Counsel ,
Corporate Crimes ,
Corporate Culture ,
Corporate Governance ,
Corporate Misconduct ,
Criminal Code ,
Criminal Liability ,
Deferred Prosecution Agreements ,
The Corporations Act ,
White Collar Crimes
The Situation: In response to recent cases of money laundering in European banks, the European Union has released an action plan to reinforce its recently proposed anti-money laundering ("AML") and Countering Financing of...more
The Situation: High-profile money laundering incidents have caught the attention of lawmakers and enforcement authorities in the United Kingdom.
The Result: A new director at the Serious Fraud Office ("SFO"), the formation...more
6/26/2018
/ Anti-Money Laundering ,
Criminal Investigations ,
Deferred Prosecution Agreements ,
Financial Crimes ,
Financial Institutions ,
Foreign Corporations ,
Money Laundering ,
National Economic Crime Center (NECC) ,
Serious Fraud Office (SFO) ,
UK ,
Unexplained Wealth Orders (UWOs)