The British stiff upper lip has prevailed in cases brought by the FCA during a three year period. In total contrast to the US authorities’ penchant for court cases and restitution payments, most UK firms have settled in advance of decisions rather than contest the FCA Prominent British law firm Freshfields has conducted research with […]

This is a really interesting case whereby an Italian high voltage cable manufacturer, Prysiam was fined 104m euros for its part in a price fixing cartel with 10 other world wide cable suppliers. What’s interesting in this case is that Goldman Sachs, the US private equity firm held a 30% shareholding in Prysiam and as […]

Comsure expert warns Cartels will face big fines… read more https://archive.comsuregroup.com/wp-content/uploads/2014/07/JEP-Article.pdf https://archive.comsuregroup.com/archive/

France’s biggest bank agreed to pay penalty of $8.9bn for dealing with countries that were the subject of US sanctions BNP Paribas guilty plea The bank’s general counsel, Georges Dirani, told the judge that BNP’s sanctions violations took place between 2004 and 2012. BNP Paribas, France’s biggest bank, pleaded guilty to criminal charges and agreed […]

On 17 June 2014 the Guernsey Financial Services Commission (“the Commission”) decided: to impose a financial penalty of £30,000 under Section 11D of the Financial Services Commission Law on Willow and; to make this public statement under Section 11C of the Financial Services Commission Law. The Commission considered it reasonable and necessary to make these […]

The pivotal role BNP Paribas played in helping Sudan sell oil in violation of U.S. sanctions is the major reason U.S. authorities are pushing for harsh penalties against the French banking giant, two sources with first-hand knowledge of the matter said. ”BNP basically was the Sudanese economy. They were just huge in helping the government […]

U.S. investigators are said to seek more than $10 billion in fines, a guilty plea and the suspension of dollar-clearing operations to settle the probe into France’s biggest bank’s dealing in countries including Iran and Sudan. As the world’s reserve currency, dollars are used internationally in trades of goods ranging from oil to airliners. France’s […]

The Jersey Financial Services Commission (the “Commission”) has issued a Consultation Paper on draft primary legislation to provide it with the power to impose civil financial penalties on regulated businesses that contravene regulatory requirements set by Commission Codes of Practice. The Consultation Paper, including the draft amending legislation, can be viewed on the Commission’s website […]