FSR and Corporate Crime Notes

Disclosure of internal investigations – the Hong Kong SFC’s FAQs fail to relieve industry concerns

The Hong Kong Securities and Futures Commission (SFC) has released frequently-asked questions (FAQs) to clarify its Internal Investigation Disclosure …

FATF Releases Fourth Round Mutual Evaluation Report of China

Authors: Kyle Wombolt, Jeremy Birch, Karen Ip and Mark Chu On 17 April 2019, the Financial Action Task Force (FATF) released its fourth round mutual …

Updated DOJ Guidance Steers Effective Compliance and Remediation Programmes

HKMA and SFC issue joint circular following co-ordinated inspections which reveal risky financial arrangements and deficient lending practices

Authors: William Hallatt, Hannah Cassidy and Valerie Tao On 24 April 2019, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures …

No More "Significant Reduction Waivers" – The Trump Administration Further Strengthens Sanctions against Iran

On April 22, 2019, the White House announced that the Trump administration will not issue further "significant reduction waivers" exempting specified …

Japan's whistleblower laws set to change

Japan's Consumer Affairs Agency is currently considering amendments to expand the scope and increase the effectiveness of Japan's whistleblower …

New podcast on conducting internal investigations in Asia

Robert Hunt, a partner in the firm's corporate crime and investigations practice, has recorded a podcast for the Corporate Compliance and Ethics Blog on …

AML/CFT compliance in Hong Kong: Recent record fine and reminder of latest guidance

Authors: William Hallatt, Hannah Cassidy, Natalie Curtis, Valerie Tao and Jennifer Fong. The Hong Kong Securities and Futures Commission (SFC) has …

Corporate Crime Update - Winter 2019

Anti-money laundering regulatory round-up

Author: Susannah Cogman Late 2018 and early 2019 saw a flurry of regulatory developments and proposals relating to anti-money laundering. We have …

The importance of supply chain due diligence and the risks of modern slavery – OFAC settles North Korean sanctions case with fine

Authors: Kyle Wombolt, Jeremy Birch, Antony Crockett and Emily Purvis. A recent enforcement action by the US Department of the Treasury’s Office of …

HKMA turns up the heat and announces consultation on IBOR transition

On 12 February 2019, the Hong Kong Monetary Authority (HKMA) announced in a briefing to the Legislative Council Panel on Financial Affairs that the …