Comsure hosts AML thought leadership seminar 22 Oct 2012 Two pioneers of the Anti Money Laundering and Counter Terrorist Financing sector will be visiting Jersey in conjunction with Comsure. Dr Dionysios Demetis and Professor Michael Mainelli will spend the day with Senior Financial Services delegates to offer insightful thought leadership on Anti Money Laundering (AML) […]

THE FSA AND INSIDER DEALING 22 Oct 2012 IntroductionInsider Dealing prosecutions have a chequered history. Historically, few prosecutionswere brought and even fewer were successful. More recently, no doubt in partbecause of the much-publicised banking crisis, there appears to be a much greaterappetite to investigate and prosecute such cases. And it is a fact that the […]

17 Oct 2012 Foreign Account Tax Compliance Act (FATCA): the operational challenge In February 2012 draft FATCA regulations were released by the US Internal Revenue Service (IRS). Relief provisions have been included in certain areas to ease the administrative burden of FATCA, which are likely to be welcomed by many affected companies. Despite these allowances […]

16 Oct 2012 Good FATCA news for UK retirement plans – On 14 September 2012 the UK Government and U.S. Treasury Department signed a ‘Bilateral Agreement to improve international tax compliance and to implement FATCA’. The Bilateral Agreement specifies the retirement plans and financial accounts that will be treated as exempt beneficial owners or exempt […]

Thai officials prevented from money transactions in US 11 Oct 2012 US bank entities have refused to make money transactions for Thai embassy officials in Washington, a harsh move that has been influenced by the fact that Thailand is on the Financial task force watch list as a high risk country for money laundering according […]

Foreign Account Tax Compliance Act (FATCA): the operational challenge 11 Oct 2012 Foreign Account Tax Compliance Act (FATCA): the operational challenge In February 2012 draft FATCA regulations were released by the US Internal Revenue Service (IRS). Relief provisions have been included in certain areas to ease the administrative burden of FATCA, which are likely to […]

11 Oct 2012 Innospec sentencing: SFO plea deal went too far – The sentencing remarks of Lord Justice Thomas in the recent case of Regina v Innospec Limited* raise questions as to the ability of the Serious Fraud Office (“SFO”), to live up to the promises in its July 2009 guidance on its approach to […]

SFO pulls back from ‘pragmatic’ approach to enforcement of Bribery Act 11 Oct 2012 On Tuesday, 9 October 2012, the Serious Fraud Office (“SFO”) published revised policies on facilitation payments, business expenditure and corporate self-reporting (click http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2012/revised-policies.aspx ). The SFO’s previous guidance, first issued in 2009, was aimed at reassuring business that the SFO would […]