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A&O Shearman

Former Chief Executive of bank fined for failing to take “reasonable steps”

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The UK Prudential Regulation Authority (PRA) has fined the former CEO of Wyelands Bank GBP118,808 for various regulatory breaches, including that he failed to take reasonable steps to ensure the business for which he was...more

Bennett Jones LLP

Additional Changes to Alberta's Business Corporations Act Now in Effect

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The Alberta Government's Business Corporations Amendment Act, 2021 (formerly Bill 84), which we wrote on in our previous insight Additional Changes Coming to Alberta's Business Corporations Act, was proclaimed into force on...more

Bennett Jones LLP

Ontario Announces New Beneficial Ownership Regime to Fight Illicit Financial Activities

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On November 4, 2021, Ontario’s 2021 Fall Economic Statement announced an intention to address tax evasion, money laundering and other illicit financial activities by amending Ontario’s Business Corporations Act to require...more

Bennett Jones LLP

Government of Canada Publishes First Report on Diversity Disclosure

Bennett Jones LLP on

On April 7, 2021, the Government of Canada published Diversity of Boards of Directors and Senior Management of Federal Distributing Corporations. The report is the first report on the effect of the government's efforts to...more

Ruder Ware

The Essence of Compliance - Compliance Officer Authority and Resource Allocation

Ruder Ware on

How Are Compliance Budgeting and Compliance Officer Autonomy Tied Together When Assessing Compliance Effectiveness? The Department of Justice (“DOJ”)’s compliance program evaluation identifies the need to allocate...more

Perkins Coie

OFAC Issues Sanctions Compliance Program Guidance

Perkins Coie on

The Office of Foreign Assets Control (OFAC), an agency of the U.S. Department of the Treasury, administers and enforces U.S. economic sanctions programs against targeted foreign governments, individuals, groups and entities...more

Holland & Knight LLP

Department of Justice Issues New Guidance on How It Evaluates Compliance Programs

Holland & Knight LLP on

Last week, the DOJ Criminal Division published a guidance document entitled "Evaluation of Corporate Compliance Programs" (ECCP). This document is meant to assist prosecutors in determining what credit should be given to a...more

The Volkov Law Group

DOJ’s New Corporate Compliance Guidance: Implementation, Operationalization and Effectiveness (Part IV of V)

The Volkov Law Group on

While I hate to start out a posting with such “mumbo jumbo” terms, I had to come up with short hand descriptions of some otherwise fairly complex and robust topics under the new DOJ Guidance....more

Wilson Sonsini Goodrich & Rosati

DOJ Criminal Division Releases Updated Guidance for Prosecutors Evaluating Corporate Compliance Programs

On April 30, 2019, Assistant Attorney General Brian A. Benczkowski announced the release of an updated version of the Criminal Division's "The Evaluation of Corporate Compliance Programs" during a keynote address at the...more

The Volkov Law Group

DOJ’s New Corporate Compliance Guidance: Risk Assessments and Policies and Procedures (Part II of IV)

The Volkov Law Group on

Part 1 of the Corporate Compliance Guidance addresses the following elements of a well-designed compliance program: risk assessment, policies and procedures, training and communications, confidential reporting structure and...more

The Volkov Law Group

DOJ Issues New and More Robust Guidance on Evaluation of Corporate Compliance Programs (Part I of IV)

The Volkov Law Group on

In a major development in ethics and compliance program expectations, the Justice Department has issued a new and important revised guidance on the Evaluation of Corporate Compliance Programs....more

Bennett Jones LLP

Proposed Changes to the CBCA: Directors Duties and Disclosure Obligations

Bennett Jones LLP on

On April 8, 2019, the Federal Government introduced Bill C-97, An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2019 and other measures, which includes proposed changes to the Canada...more

Dechert LLP

Financial Services Quarterly Report - First Quarter 2017: Hong Kong’s New Requirements for “Senior Management” of Fund Managers...

Dechert LLP on

The Securities and Futures Commission of Hong Kong (SFC) recently introduced the “Senior Management Accountability Regime” (regime), in an effort to make senior managers (particularly those who are not already designated as...more

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