Practical steps to ensure compliance with the UK financial sanctions – There is no positive obligation under UK sanctions legislation to check whether a customer or a third party is a sanctions target (in contrast to anti-money laundering rules and the US sanctions regime). A financial institution that does not carry out checks and never […]

World-Check (WC) have just released a new White Paper – “FCPA Prosecution: Lessons from Kay” – Written by FCPA practitioner Michael Osajda, the paper describes how two US executives were imprisoned for their part in a corrupt deal in Haiti. United States v. Kay is one of the more interesting prosecutions under The Foreign Corrupt […]

March 2010 JFSC Quarterly Newsletter – www.jerseyfsc.org/pdf/JFSCNewsletter(17).pdf Read http://www.jerseyfsc.org/pdf/JFSCNewsletter(17).pdf

A code of conduct for QROPS providers in Guernsey is one step closer with the sub-committee’s first meeting set for tomorrow. The sub-committee has been formed by the Guernsey Association of Pension Providers (GAPP) and contains a cross-section of QROPS providers from the jurisdiction. Its aim will be to establish a voluntary code of conduct, […]

Whistleblower at Johnson & Johnson unit jailed over bribes to Greek doctors – Robert Dougall, a former executive of DePuy International who turned whistleblower, has been jailed for 12 months for helping pay £4.5m of bribes to Greek state doctors. The 44-year-old, a former director of marketing at the subsidiary of US healthcare group Johnson […]

The Financial Services Authority risks putting itself in the firing line for company failures by taking more responsibility for vetting directors, the Chartered Institute for Securities & Investment warned. CISI said on Thursday that the watchdog would struggle to assess boards and that by taking responsibility it risked its reputation if directors led companies into […]

….Investors the world over breathed a sigh of relief on October 16 when the Swiss government rescued UBS. But unbeknownst to them at the time, the bank faced a potentially devastating crisis on a very different front. One day after the bailout, top executives from UBS and Swiss regulators were summoned to a closed-door meeting […]

Launderers in the news – http://www.lawsociety.org.uk/newsandevents/news/view=newsarticle.law?NEWSID=427051 Property salesman admits almost £4m money laundering offences – Devon A semi-retired property salesman has admitted £4m in money laundering offences after he was caught trying to smuggle nearly £60,000 in cash out of the country in his underpants. The man was being monitored by the authorities as he […]