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Guidance on the regulators’ latest proposals, along with practical and insightful practitioner comment.
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
09 March 2017 Brandon O'Neil
The ripple effects of the important December 2016 decision by the English High Court in The RBS Rights Issue Litigation continue to reverberate. In holding that notes of interviews by a firm’s lawyers of the firm’s own employees created for the purpose of providing legal advice are nonetheless not protected from disclosure by legal advice › Read More
06 March 2017 Claire Rajan
In February 2017, the U.S. Department of Justice (“DOJ”), through the Fraud Section of the Criminal Division, issued new guidance on how it evaluates corporate compliance programs, available here. The Guidance details sample topics and questions that the DOJ is likely to ask in evaluating the strength of a corporate compliance program, which is of › Read More
02 February 2017 Sarah Hitchins
Following a process that has lasted for more than two years, yesterday the UK Financial Conduct Authority (FCA) and the UK Prudential Regulation Authority (PRA) confirmed changes to their enforcement decision-making processes. These changes take the form of guidance, not formal rules. We set out below the key changes announced by the regulators, some of › Read More
01 February 2017 Kurt Wolfe
This blog post was co-authored by Matt Bower, a litigation and regulatory investigations partner based in Hong Kong. The U.S. Securities and Exchange Commission (SEC) and the Hong Kong Securities and Futures Commission (SFC) recently entered into a Memorandum of Understanding (MOU) regarding the supervision and oversight of regulated entities that operate in the United States and › Read More
31 January 2017 Sarah Hitchins
Bumper fines have become a mainstay of UK Financial Conduct Authority (FCA) enforcement action. However, last year we saw a significant drop in the financial penalties imposed by the FCA. It got people talking. Has the FCA gone soft? In a speech delivered earlier this month, Mark Steward gave a clear ‘no’ in response to › Read More