Search for:
Category

AML

Category

Our Banking & Finance, Competition & Antitrust, Mergers & Acquisitions and Trade partners in Johannesburg outline ten reasons to turn your attention to African trade and investment opportunities in the coming year. Some of these reasons include the rise in commodity prices, shifting patterns and alternative financing, digitization and competition law and enforcement.

Financial crime remains at the top of the regulatory agenda across the globe. As responses to the pandemic stabilise, and following some high-profile global incidents, regulators face renewed pressure to manage financial crime more effectively through robust supervision and enforcement. In the October 2021 edition of the City Library’s Compliance Officer Bulletin, our business crime, regulatory and cybersecurity lawyers explore the latest developments in anti-money laundering and financial crime in a series of articles

The Monetary Authority of Singapore (MAS) has released for consultation the proposals in its paper, FI-FI Information Sharing Platform for AML/CFT, which will require Financial Institutions to share with each other information on customers or transactions, where they cross material risk thresholds, on a secured digital platform owned and operated by MAS to be named ‘Collaborative Sharing of ML/TF Information & Cases

The growth of digital engagement practices has raised regulatory issues for broker-dealers and investment advisers. In this preview of an article from an upcoming issue of The Review of Securities & Commodities Regulation, Amy Greer and Gavin Meyers discuss a variety of such issues, including account opening due diligence and best execution. They suggest that, as a starting place, to prepare for regulatory examinations firms should review current practices and address those concerns raised by the SEC and FINRA in their recent statements, guidance, and regulatory responses.

On 14 October 2021, the Office of Financial Sanctions Implementation (“OFSI“) published its Annual Review, providing an overview of OFSI’s activities in the financial year April 2020 to March 2021. In 2020-2021, OFSI considered 132 reports of potential financial sanctions breaches, a slight decrease from 140 in 2019-2020. However, the number of cases considered generally remains on an upwards trajectory from the 99 potential financial sanctions breaches considered in 2018 to 2019.

On 6 September 2021, the Office of Financial Sanctions Implementation (“OFSI“) published its 2021 frozen asset reporting notice. The notice is a reminder that all persons that hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person must provide a report to OFSI with the details of these assets by 15 October 2021. This is part of HM Treasury’s annual review of frozen assets to update its records and to capture any changes during the reporting period.

Taking off from the guide Crypto around the World, the second of two episodes takes a closer look at market abuse, sustainability, decentralized finance and future developments. Sue McLean, a partner in our London office, talks to the team that started this project: Iris Barsan, counsel from our Paris office; Julian Hui, associate from our London office; and Chris Murrer, a US attorney in our Zurich office. They also cover specific regulatory and policy considerations, as well as the future impact of central bank digital currencies.

Episode 19: Crypto around the World (Part 2) Taking off from the guide Crypto around the World, the second of two episodes takes a closer look at market abuse, sustainability, decentralized finance and future developments. Sue McLean, a partner in our London office, talks to the team that started this project: Iris Barsan, counsel from our Paris office; Julian Hui, associate from our London office; and Chris Murrer, a US attorney in our Zurich office. They also cover specific regulatory and policy considerations, as well as the future impact of central bank digital currencies.

The financial services industry is undergoing sweeping changes driven by regulatory developments, rapidly advancing technology, ESG concerns and continued consolidation in the sector. The far-reaching impact of financial reforms, intricacies in their implementation, and conflicting regulations in different jurisdictions can expose businesses to increased regulatory risk.