Anti-money laundering, terrorist financing, and know your client obligations
FCA-authorised firms are required, pursuant to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on Payer) Regulations 2017 (“MLRs”), to implement anti-money laundering (“AML”) measures.
The Fifth EU Anti Money Laundering Directive provides for the first time for the inclusion of exchange platforms for virtual currencies and digital wallet providers in the group of obliged entities under money laundering law. In addition, new requirements are imposed on the group of obliged entities. This concerns, among ...
CMS is delighted to send you the 4th edition of our CMS Guide to Anti-Bribery & Corruption. The Guide summarises the main aspects of anti-corruption laws applicable in 34 countries by answering the following key questions: What are the key offences? Who can be liable and when? What are the ...
The Fourth Anti-Money Laundering Directive (Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015) was published on 5 June 2015. This directive implements the revised 40 Recommendations of the Financial Action Task Force (FATF) of the OECD for the prevention of money laundering and ...
Presentation slides from our webinar on Market Abuse Directive (MAD) II can be accessed via the 'Training & Seminars' app or via a link on this report page. The report page also contains a link to a recording of the seminar (lasting approx. 60 minutes).
In recent years, the Foreign Corrupt Practices Act of 1977 (the "FCPA") enforcement has been a top priority for U.S. enforcement agencies. There have been a number of recent cases which have confirmed the desire for strong enforcement against both companies and individuals who violate the FCPA and large penalties ...
Last week, in the face of ever evolving placement and remuneration structures, Lloyd’s reiterated its guidance for managing agents issued in 2012 following the implementation of the Bribery Act 2010 (the Act). The Act makes it an offence to offer, promise or give bribes, or to request, agree to receive or accept a bribe. The Act also imposes a corporate liability for failing to prevent bribery. Lloyd’s...
Seminar held at Mitre House, London on 29 January 2015. The seminar covered the new senior insurance managers regime, the insurance distribution directive (IMD 2) and recent thematic reviews (complaints handling, and bribery and corruption).
This seminar was held in Edinburgh on 1 October 2014.
It covered the following topics: FCA policy, when does the FCA take action, the elements of good practice and the SFO and COPFS focus and approach to anti-bribery controls.
On 16 July 2014, the Supreme Court provided clarity on the nature of a principal’s entitlement to recovery of a secret commission or bribe received by an agent.