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Latest Practice Compliance News

SFO bribery case could test unanswered legal principles

Law360, London: Allegations by the Serious Fraud Office (SFO) that an insurance broker failed to prevent bribery will tread new ground, a sign that the agency is willing to probe largely unanswered legal principles to test the extent of its powers, lawyers say.

Spotlight on Corruption analyses the SFO’s new corporate guidance

Following the publication of the Serious Fraud Office’s (SFO) new corporate guidance setting out expectations for Deferred Prosecution Agreements (DPAs) and corporate cooperation, Spotlight on Corruption considers whether it will work to tackle corporate crime or whether the guidance is lacking. The guidance promises accelerated response times and clear timelines for investigations, while requiring companies to identify all persons involved in wrongdoing. This forms part of Director Nick Ephgrave's strategy to increase enforcement, following recent investigations into Thales for bribery and the first contested 'failure to prevent bribery' trial. The guidance aims to address declining corporate self-reporting, though critics note it maintains similar treatment for proactive and reactive cooperation.

DBT releases dual Russia sanctions guidance on technology and software

The Department for Business and Trade (DBT), Office of Trade Sanctions Implementation (OTSI) and Department for Science, Innovation and Technology (DSIT) have jointly published two guidance documents relating to the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. The first guidance addresses technology transfer sanctions compliance under regulations 26, 42A, 46YA, 46Z30A and 46Z35, while the second covers sectoral software sanctions under Chapter 4N. Both documents provide detailed information on compliance requirements and licence application procedures for their respective areas. These guidance documents complement the existing Russia sanctions statutory guidance.

OFSI extends General Licence INT/2023/3263556

The Office of Financial Sanctions Implementation (OFSI) and HM Treasury (HMT) have extended General Licence INT/2023/3263556, initially issued under the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855, allowing payments and activities related to insolvency proceedings for two Irish GTLK Companies and their subsidiaries. The licence, effective from 01 August 2023, has been extended to expire at 23:59 on 31 July 2030.

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