On 6 November 2024, the UK Government published the much-anticipated guidance on the new corporate offence of failure to prevent fraud (the “Guidance”). The failure to prevent fraud offence forms part of a huge shift in the...more
11/19/2024
/ Compliance ,
Corporate Crimes ,
Corporate Governance ,
Criminal Liability ,
Environmental Social & Governance (ESG) ,
Extraterritoriality Rules ,
Failure to Prevent ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Fraud ,
New Guidance ,
Risk Assessment ,
Serious Fraud Office (SFO) ,
UK ,
Whistleblowers ,
White Collar Crimes
On July 10, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released new guidance (the “July 10 Release”) outlining different types of precautionary letters (“supplier list” letters, “Project...more
7/29/2024
/ Bureau of Industry and Security (BIS) ,
China ,
Colleges ,
Compliance ,
Due Diligence ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Federal Contractors ,
National Security ,
Popular ,
Russia ,
Ukraine ,
Universities
Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more
5/20/2024
/ Bribery ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Criminal Investigations ,
Criminal Liability ,
Criminal Prosecution ,
Due Diligence ,
Fraud ,
Law Enforcement ,
Money Laundering ,
National Crime Agency (NCA) ,
New Guidance ,
Popular ,
Risk Assessment ,
Serious Fraud Office (SFO) ,
Tax Evasion ,
UK
After a laborious passage through the United Kingdom Parliament, the Economic Crime and Corporate Transparency Act (the Act) received Royal Assent on 26 October 2023. The Director of the UK Serious Fraud Office (SFO) hailed...more
10/31/2023
/ Bribery ,
Compliance ,
Corporate Crimes ,
Corporate Transparency Act ,
Criminal Liability ,
Fraud ,
Money Laundering ,
Regulatory Reform ,
Serious Fraud Office (SFO) ,
Theft ,
UK ,
UK Companies Acts
Companies faced with the decision of whether to voluntarily self-report sanctions breaches to law enforcement or sanctions enforcement agencies in the UK and the US can take some measure of comfort from recent comments made...more
10/16/2023
/ Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Good Faith ,
Office of Financial Sanctions Implementation (OFSI) ,
Office of Foreign Assets Control (OFAC) ,
Sanction Violations ,
Self-Reporting ,
Serious Fraud Office (SFO) ,
U.S. Commerce Department ,
U.S. Treasury ,
UK ,
Voluntary Disclosure
The UK Government yesterday introduced a new corporate “failure to prevent fraud” offence into draft legislation, the Economic Crime and Corporate Transparency Bill (“the Bill”).
This is a significant development in UK...more
4/13/2023
/ Companies Act ,
Compliance ,
Corporate Crimes ,
Corporate Transparency Act ,
Enforcement ,
Financial Crimes ,
Fraud ,
Policies and Procedures ,
Proposed Legislation ,
Serious Fraud Office (SFO) ,
UK ,
White Collar Crimes
The Office of Financial Sanctions Implementation (OFSI) has updated its ‘enforcement and monetary penalties for breaches of financial sanctions’ guidance, which was last updated in June 2022. ...more
3/23/2023
/ Business Ownership ,
Change of Ownership ,
Compliance ,
Control Test ,
Due Diligence ,
Economic Sanctions ,
Enforcement ,
Financial Conduct Authority (FCA) ,
Guidance Update ,
Office of Financial Sanctions Implementation (OFSI) ,
Penalties ,
Strict Liability ,
UK