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 UK FCA shines a light on personal account dealing
18 November 2019 - Post by:
In its latest Market Watch newsletter, the FCA has reported on the ‘varied’ quality of firms’ personal account dealing (PAD) controls and set out points that it says all firms should consider when reviewing their PAD controls. The requirement for firms to have PAD controls The FCA requires firms to establish adequate PAD controls in › Read More
Employee interviews in internal investigations
14 November 2019 - Post by:
Recent developments in the U.S., UK and Germany have cast a spotlight on the interplay between corporate internal investigation interviews and investigations by, and cooperation with, the authorities. Interviewing company employees is often a key part of an internal investigation. Despite most employees having little choice but to agree to give internal interviews, they are › Read More
11 November 2019 - Post by:
In Kokesh v. SEC, 137 S. Ct. 1635 (2017), the U.S. Supreme Court held that disgorgement in SEC enforcement actions constitutes a penalty rather than equitable relief. Disgorgement requires a defendant to return the ill-gotten gains obtained as a result of his wrongdoing. The Supreme Court’s decision meant that SEC disgorgement now is subject to › Read More
U.S. DOJ Antitrust Division launches Procurement Collusion Strike Force
07 November 2019 - Post by:
The U.S. Department of Justice’s Antitrust Division announced on 5 November 2019 that it has established the Procurement Collusion Strike Force (PCSF), a new task force designed to detect criminal anticompetitive behavior in government procurements. This comes off the back of recent statements from senior DOJ officials that the Division had plans to be more › Read More
The FCA confirms the number of open enforcement investigations into ‘non-financial misconduct’
06 November 2019 - Post by:
It is now just over a year since Megan Butler wrote her letter to the UK Women and Equalities Committee which coined the (now common) phrase ‘non-financial misconduct’. Even before Megan Butler’s letter was published, many regulated firms were already looking at personal misconduct (especially sexual misconduct) committed by their employees through both employment and › Read More