Clik here to view.
US Baseball Scandal Provides Valuable Lessons on Corporate Culture
The Commissioner held senior leadership accountable for illegal “sign-stealing”, even though the conduct generally involved players and low-level operations employees. By Nathan H. Seltzer, David...
View ArticleClik here to view.
FCA Issues Guidance on Key Workers in Financial Services
The FCA has clarified which people working in regulated financial services firms will meet the definition of a “key worker”. By Rob Moulton On 19 March 2020, the UK government published guidance...
View ArticleClik here to view.
UK Government Temporarily Suspends Wrongful Trading Rules to Assist Company...
Proposed changes to UK insolvency laws aim to support companies under pressure due to COVID-19. By Rob Moulton and Anna Lewis-Martinez On 28 March 2020, the UK government announced a number of reforms...
View ArticleClik here to view.
FCA and PRA Statement on SM&CR and COVID-19: Expectations of Dual-Regulated...
UK Regulators announce new measures after acknowledging firms affected by COVID-19 will need to keep their governance arrangements under review. By Rob Moulton and Anna Lewis-Martinez On 3 April 2020,...
View ArticleClik here to view.
Key Regulatory Developments in Hong Kong and Singapore: September 2020
Regulators consult on anti-money laundering guidelines and issue guidance on cybersecurity, best execution, and senior management accountability. By Farhana Sharmeen, Simon Hawkins, Kenneth Y.F. Hui,...
View ArticleClik here to view.
Insider Trading in Commodities Markets: An Evolving Enforcement Priority
The CFTC and the DOJ both now pursue enforcement actions against trading in commodities based on misappropriation of confidential information. By Douglas K. Yatter, Sohom Datta, and Cameron J....
View ArticleClik here to view.
Climate (and ESG) Risk: The Growing Focus on Board Accountability
Board members are expected to have adequate knowledge and understanding of climate-related and ESG risks. By Nicola Higgs, Paul A. Davies, and David Berman Legislators and regulators around the world...
View ArticleClik here to view.
Private Bank Briefing – September 2021
By Rob Moulton, Nicola Higgs, Anne Mainwaring, and Charlotte Collins The latest edition of our Private Bank Briefing provides a roundup of legal and compliance issues impacting private banks and their...
View ArticleClik here to view.
SEC Proposes Stricter Requirements for the Rule 10b5-1 Affirmative Defense
The Proposal would have a significant impact on current practices surrounding the use of Rule 10b5-1 plans by public companies and insiders. By Joel H. Trotter, Stephen P. Wink, Naim Culhaci, and Deric...
View ArticleClik here to view.
FCA Issues Final Notice to Former Banking CEO Over Anti-Money Laundering...
The case provides instructive practical examples of the “reasonable steps” companies can take according to the FCA and a reminder of the FCA’s cultural expectations of CEOs. By David Berman, Jonathan...
View ArticleClik here to view.
Singapore: MAS Issues New Accountability Guidelines for Senior Management
The guidelines aim to strengthen the accountability of senior managers in financial institutions. By Farhana Sharmeen and Marc Jia Renn Tan On 10 September 2020, the Monetary Authority of Singapore...
View ArticleClik here to view.
PRA Publishes Findings on Its Evaluation of the SMCR
The PRA has released a largely positive report, along with nine follow-up actions and recommendations on the SMCR for PRA-regulated firms. By Rob Moulton, Katy Sanders, and Anna Lewis-Martinez The PRA...
View Article10 Key Focus Areas for UK-Regulated Financial Services Firms in 2021
This annual publication outlines some of the primary focus areas in 2021 for UK-regulated financial services firms. Some of these topics are attracting attention because they are an emerging trend, or...
View ArticleClik here to view.
When Are CCOs on the Hook? FINRA Offers Guidance on CCO Liability
Guidance clarifies assessment of liability under Rule 3110, including designation as supervisor, application of reasonableness standard, and factors for and against charging compliance officials. By...
View ArticleClik here to view.
The FCA’s Approach to Non-Financial Misconduct — A Further Twist
By David Berman, Nicola Higgs, Jon Holland, Andrea Monks, Rob Moulton, and Nell Perks The FCA stated that the perpetrator’s character is key to non-financial misconduct investigations, which suggests a...
View ArticleClik here to view.
DP 23/1: FCA Publishes Discussion Paper on Sustainability-Related Governance,...
The discussion paper aims to encourage industry-wide dialogue on sustainability related-governance, incentives, and competence. By Anne Mainwaring, Sara Sayma, and Dianne Bell On 10 February 2023, the...
View ArticleClik here to view.
UK Government and Regulators Launch SMCR Review
The tone of the papers suggests that a fundamental reform of the Regime will be unlikely. By Rob Moulton, David Berman, Jonathan Ritson-Candler, and Charlotte Collins On 30 March 2023, the PRA and the...
View ArticleClik here to view.
The Edinburgh Reforms — Where Are We Now?
As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with...
View ArticleClik here to view.
UK Regulators Set Out Plans on Growth and International Competitiveness
PRA and FCA speeches recap the regulators’ work to deliver growth and enhance competitiveness, and outline some key upcoming policy work. By Rob Moulton, Nicola Higgs, Becky Critchley, and Charlotte...
View ArticleClik here to view.
The Edinburgh Reforms — Two Years On
When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain...
View Article