Welcome to the May 2016 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below we provide a brief overview of what is covered in each update.
- Market Abuse Update April 2016
- UK launches Panama Papers taskforce
- Anti-Corruption Summit: London 2016
- SFO article on self reporting
- Money laundering Action Plan
- Recent developments in English and Scottish bribery enforcement
- Sanctions update – creation of Office of Financial Sanctions Implementation and changes to UK financial sanctions
- The Register of Persons with Significant Control - Q&A for UK companies
- Treasury Committee letters on tax deductibility of fines imposed by regulators on banks
- EU extends sanctions in respect to actions undermining the territorial integrity of Ukraine and to former members of the Ukrainian regime in respect to the misappropriation of public funds.
- Commission inception impact assessment on Directive amending MLD IV
- IOSCO study of regulatory approaches to cyber risk
- French anti-corruption developments: Sapin II law proposes new anti-corruption rules for businesses
- The Panama papers: France returns Panama to its list of Non-Cooperative Countries and Territories
- Vote after a second reading of the proposed law imposing a duty of vigilance on parent or subcontracting companies
- Reform of the criminal statute of limitations
- France issues ministerial decree to freeze assets in respect to individuals and entities affiliated with Al-Qaeda and ISIL (Da'esh), North Korea's nuclear programme, and the Lord's Resistance Army
- Iran-Europe – Opportunities and Challenges
- PwC Middle East Economic Crime Survey 2016
- Egyptian auditor dismissed for making allegations of corruption
- Property tycoon and former Chief Secretary appeal to Court of Final Appeal in Hong Kong's high profile corruption case
- Hong Kong used as conduit for corrupt money according to Chinese anti-corruption official
CHINA, SOUTH EAST ASIA & INDIA
Malaysia
- Special task force established for an immediate review of a ministry's procurement process following Malaysia anti-corruption agency's recent investigation involving senior officials of the ministry
India
- Kingfisher Airline’s loans under extended investigation
China
- China court jails 24 in another financial fraud
- Another two senior officials under investigation
Laos
- Central bank teams up with police to combat money laundering and financing of terrorism
- Toshiba reveals additional accounting irregularities, faces investigation by US authorities
- Olympus pays US$ 646 million to resolve US bribery probes
- Consideration of Deferred Prosecution Agreement scheme
- Calls to establish National Integrity Commission
- New funding for the AFP
- Hearing held concerning Senate inquiry into foreign bribery
- Las Vegas Sands settled FCPA charges with the SEC
- Novartis settled FCPA charges with the SEC
- Venezuelan businessmen pleaded guilty for bribing PdVSA
- DOJ extended Zimmer Biomet's DPA amid post-settlement investigations
- DOJ announced new FCPA pilot programme
- Latest FIFA developments
- District Court refuses to reconsider its earlier order to limit FCPA's jurisdiction
- DC Circuit determines that Judiciary does not have power to substantively review deferred prosecution agreements
- US authorities further ease Cuban sanctions
- US authorities arrest a Turkish businessman who allegedly conspired to violate US sanctions
- Singapore man extradited to US facing charges for illegal exports to Iran
- OFAC issues regulations implementing new sanctions targeting Hizballah
- U.S. Department of Treasury's Office of Foreign Asset Controls (OFAC) sanctions supporters of Iran's Ballistic Missile Program and UK/ UAE companies for dealings with terrorism-designated Mahan Air
- Microsoft challenges US authorities' use of secrecy orders to obtain stored electronic data
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