BROKER-DEALER - FINRA New Rule 3241 Becomes Effective February 15 - On February 15, Financial Industry Regulatory Authority (FINRA) new Rule 3241 — “Registered Person Being Named a Customer’s Beneficiary or Holding a...more
On April 3, 2017, the UK Treasury’s Office of Financial Sanctions Implementation (OFSI) announced new penalties for economic sanctions violations of £1 Million or 50% of the value of the transaction, whichever is higher. As a...more
As previously reported, the Policing and Crime Act 2017 (the Act) introduced a series of major changes to the U.K. financial sanctions regime. The changes, which came into force on April 1, 2017, included the creation of new...more
The Financial Conduct Authority and Prudential Regulation Authority published a joint Policy Statement on changes to their enforcement decision-making processes. The changes are in response to the recommendations set out in...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a look at recent cases and enforcement trends, including proposed amendments to China’s commercial bribery law, the use in U.S. courts of compelled...more
The current UK sanctions enforcement regime is a complicated web reflecting the requirements of UN Security Council Regulations, EU Regulations, and UK Primary and Secondary Legislation. Penalties for breaches of sanctions...more
The UK Government put a package of proposals to Parliament in February to increase both the type and the potential severity of consequences for persons and companies who breach EU financial sanctions. If approved, these...more