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

The FCA wants “purposeful” AML systems and controls

Firms must have “purposeful” AML systems and controls, according to Mark Steward (the FCA’s Executive Director of Enforcement and Market Oversight) in a recent speech. What does the FCA mean by “purposeful” AML systems and controls? And what does this add to the existing requirement for firms to establish “effective” systems and controls? A key Read More

New powers for the UK Pensions Regulator

The Pensions Regulator has new and far-reaching powers to investigate and prosecute those who put pension schemes at risk.  The broad scope of the new offences and information gathering powers has caused a stir in the pensions industry and beyond. New criminal offences relating to pensions schemes The Pension Schemes Act 2021 received Royal Assent Read More

Dubai Financial Services Authority Business Plan 2021/22: key messages for litigators and contentious regulatory lawyers

The Dubai Financial Services Authority (DFSA) has published its Business Plan for 2021/22 (the Business Plan) setting out its areas of focus for the upcoming financial year. Here we provide the key highlights, with particular focus on the matters that are of most relevance to litigators and DFSA-regulated institutions.   Strategic themes for managing risks Read More

Global trends in antitrust enforcement

The Allen & Overy Global antitrust enforcement report reviews antitrust enforcement around the world, including cartels, vertical arrangements and abuse of dominance/monopolisation cases. The report looks at key statistics for a number of major jurisdictions in 2020, including the impact of the Covid-19 pandemic on the data and on antitrust authorities’ investigative practices. Fewer dawn Read More

Remote working: No excuse for non-compliance with obligations to record telephone conversations and electronic communications

The UK Financial Conduct Authority (FCA) has emphasised in the latest edition of its Market Watch Newsletter its expectations for firms to record telephone conversations and electronic communications in light of the increased use of alternative working arrangements by employees such as increased homeworking. The FCA has highlighted that risks from misconduct may be heightened Read More