TI publishes progress report on enforcement of OECD Convention on foreign bribery 17 Sep 2012 Transparency International (TI) has published (http://www.transparency.org/whatwedo/pub/exporting_corruption_country_enforcement_of_the_oecd_anti_bribery_conventio?intEmailHistoryId=811948&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) its 8th annual progress report (http://herbertsmith.vuturevx.com/edit/email_handler.aspx?id=811948&redirect=http%3a%2f%2ffiles.transparency.org%2fcontent%2fdownload%2f510%2f2109%2ffile%2f2012_ExportingCorruption_OECDProgress_EN.pdf) on enforcement of the Organisation for Economic Cooperation and Development (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (the Convention). The Convention, which […]

Directors’ conflicts of interest: What to do 14 Sep 12 In an ideal world all directors would become members of boards with just one aim – to act objectively in the interests of the company, making decisions based solely on the business merits of the situation. Unfortunately we have all come across sole director/owners who […]

RISK MANAGEMENT POLICY 12 Sep 2012 A risk management policy serves two main purposes: to identify, reduce and prevent undesirable incidents or outcomes and to review past incidents and implement changes to prevent or reduce future incidents. For example, a doctor’s office may utilize their risk management policy in order to continuously analyze and improve […]

RISK STRATEGY GUIDE 12 Sep 2012 Risk is one of the most overlooked areas for new business. It is clear to most entrepreneurs that starting any new business involves risk, and risk is one of the reasons many of us are entrepreneurs. There is a certain thrill in taking the gamble and making a business […]

Politically Exposed Persons – A Policy Paper on Strengthening Preventive Measures 11 Sep 2012 http://siteresources.worldbank.org/EXTSARI/Resources/5570284-1257172052492/PEPs-ful.pdf?resourceurlname=PEPs-ful.pdf Funds stolen by corrupt politicians and stashed abroad with the help of the international banking systems are the main focus of this publication. The authors analyse the shortcomings in existing frameworks to curb such activity and identify a set of […]

Money Laundering Bulletin – Twin peaks – leading cases in 2010 11 Sep 2012 There have been two cases of significant interest to practitioners in the field of criminal litigation and money laundering compliance this year, write Peter Binning and Charles Elton of Corker Binning. The first, in February, was the case of Shah v […]

HM Treasury and US Tax Authority release model agreement to implement FATCA in the UK and extend information sharing powers between the US and the UK 11 Sep 2012 HM Treasury (in conjunction with the governments of France, Germany, Italy and Spain – together the ‘FATCA Partners’) have published the terms of a model agreement […]

Insider dealers ordered to pay £1.5 million in confiscation 11 Sep 2012 The FSA has announced (http://www.fsa.gov.uk/library/communication/pr/2012/082.shtml?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) that it has been successful in obtaining Confiscation Orders against Christian and Angie Littlewood following their sentencing for insider dealing in 2010. Mr and Mrs Littlewood have each been ordered to pay £767,000 by way of confiscation and […]