HM Treasury issues statement on money laundering controls in overseas jurisdictions – On 15 March 2010, HM Treasury issued a statement of advice about risks posed by unsatisfactory money laundering controls in a number of jurisdictions. This advice supersedes previous advice issued by HM Treasury in connection with deficiencies in these areas. HM Treasury’s advice […]

On 16 March 2010, the Committee of Advertising Practice (CAP) and the Broadcast Committee of Advertising Practice (BCAP) launched revised codes for broadcast advertisements and non-broadcast advertising (the codes). The revised codes follow a consultation launched by CAP and BCAP in March 2009 on revisions to the codes intended to keep them up to date […]

UK Bribery Bill: ten things you should know (Norton Rose article) – Norton Rose has published 10 key points that all corporates should be aware of in relation to the fortcoming bribery Bill, which is expected to be enacted in the course of 2010. The corporate community has become accustomed to the US authorities frequently […]

Extortion by corrupt officials in Russia has got so bad that some Western multinationals are considering pulling out altogether, the head of a U.S. anti-bribery group said in an interview. Alexandra Wrage, whose non-profit organization TRACE International advises firms on how to avoid bribery, told Reuters the “rampant endemic” corruption in Russia was much worse […]

On 15 March 2010, the FSA published a press release announcing that Christian Littlewood, a senior investment banker, and his wife, Angie Littlewood, have been charged with thirteen counts of insider dealing under section 52 of the Criminal Justice Act 1993 and one count of conspiracy to commit insider dealing under section 1 of the […]

On 12 March 2010, Hector Sants, FSA Chief Executive, gave a speech entitled: “UK Financial Regulation: After the Crisis”. In the speech, Mr Sants formally launched the FSA’s new approach to conduct regulation, which is intended to be proactive and “outcomes-based”. Mr Sants’ view is that the FSA’s past “reactive” stance meant that it has […]

Kim Jong-il, the Supreme Leader of North Korea, has a $4 billion (£2.6 billion) “emergency fund” hidden in secret accounts in European banks that he will use to continue his lavish way of life if he is forced to flee the country. South Korean intelligence officials told The Daily Telegraph that much of the money […]

On 11 March 2010, the FSA published a speech given by Linda Woodall, FSA Head of Savings and Investments Department, on the implications of intensive supervision for small firms. Amongst other things, in her speech, Ms Woodall advised that the FSA would be focusing on the following key areas for small firms during 2010: Sustainable […]