Welcome to Allen & Overy’s Investigations Insight blog, sharing with you our views and insights into the latest trends, risks and developments in financial services investigations

The Criminal Finances Bill: Part One

Calum Macdonald

With the publication of the draft Criminal Finances Bill 2016-2017 on Thursday, financial services firms have been put on notice of what stands to be the largest expansion of UK corporate criminal liability since the Bribery Act 2010. In case that were not enough for practitioners to digest, the Bill also proposes one of the most Read More

Further drop in number of market abuse cases concluded by the FCA

Sarah Hitchins

The latest figures show that the gap between the number of civil market abuse cases opened by the UK Financial Conduct Authority (the FCA) and the number of these cases that the FCA manages to conclude continues to grow. Although last summer the FCA promised us that it had a number of market abuse cases Read More

A whole new world: thoughts on the rise and rise of cryptocurrencies

Nitish Upadhyaya

Distributed ledger technology is here to stay and with the rise of cryptocurrencies based on the technology, come numerous legal and regulatory issues. Although technological solutions will make transactions and exchanges more secure, the task of policing the interaction of cryptocurrencies with the financial system will inevitably fall to the courts and regulatory authorities.   Read More

General Counsel and Heads of Legal as UK Senior Managers: The debate rumbles on

Calum Burnett

Earlier this year, the UK Financial Conduct Authority (the FCA) announced that it was considering whether General Counsel and Heads of Legal should be designated as Senior Managers for the purposes of the new Senior Managers and Certification Regime. The FCA has now published a Discussion Paper on this topic, which sets out arguments for Read More

UK Senior Managers and ‘reasonable steps’: Clarity at last?

Sarah Hitchins

Last week the UK Financial Conduct Authority (FCA) published new draft guidance on the meaning of ‘reasonable steps’ for the purposes of the Senior Managers Regime. If you were hoping that this latest guidance was going to provide us an A to Z guide to ‘reasonable steps’ then, unfortunately, you are going to be disappointed. Read More