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Sven Bates

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Sven Bates is a senior associate in Baker McKenzie's London office.

On 9 September the Financial Conduct Authority (“FCA“) and the Prudential Regulation Authority (“PRA“) published a letter to bank CEOs with the purpose of reiterating expectations of firms when undertaking trade finance activities. The Dear CEO letter addressed both conduct and prudential issues where the regulators consider that improvements are required in firms’ controls. The regulators stressed that “firms need to demonstrate that they have taken a risk sensitive approach to their control environment that ensures the relevant risks are effectively mitigated”, noting that the last 18 months have seen several “high-profile failures of commodity and trade finance firms with significant financial loss”.

Our market-leading UK trade and competition team will share their insights from 26 January – 3 February 2021 as we discuss the impact of the new UK-EU arrangements and adapting your business to the global realities post-Brexit. Full information about these sessions can be found here. Customs and Product Regulation…

This webinar addresses the particular needs of financial institutions facing a variety of new challenges in complying with international sanctions. Speakers from Baker McKenzie’s international sanctions and regulatory teams shall be discussing the development of increasingly complex and in some cases competing sanctions laws in different jurisdictions. Where do conflicts…

Introduction Following the recent third rejection of the Brexit withdrawal agreement in the UK Parliament, a no-deal Brexit remains firmly on the agenda. This alert sets out some of the main sanctions and export controls issues arising from a no-deal Brexit which are likely to impact upon companies operating in…