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16 charged by US over $194m complex investment scam across 3 continents

All of the investigations received assistance from the SEC’s Office of International Affairs

Financial Regulation: Daily Update

The response sets out HM Government’s (HMG) final policy approach to amending the regulatory framework, which will ensure that the FSCS can operate most effectively for the consumers of pre-paid funeral plan contracts if a regulated funeral plan pro

Herbert Smith Freehills Financial Regulation: Daily Update

The report informed the FATF’s Strategic Review, which aims to make the next cycle of FATF assessments more timely, risk-based and effective.

Bird & Bird advises Flex on landmark bond offering in Hungary

The transaction is one of the largest bond offerings by value, both within the framework of the BFGS and beyond, in Hungary.

UAE’s new whistleblowing regime ‘significant and positive’ step for employees

Employees, officers or agents of DFSA-regulated companies operating in or from the DIFC can now withhold their identities when reporting suspected misconduct

Changes to the Unexplained Wealth Orders regime

The changes to the UWO regime appear to have been designed with a mind to the limited use of UWOs since their creation in 2018

Concept of AI inventor rejected in Australian patent ruling

The effect of the ruling is that AI systems cannot be listed as inventors on patent applications on Australia.

NEC’s proposed climate change clause an ‘important tool’ to reach net zero

The guidance adds that while the requirements are likely to be set by the client, they can also be requested from bidders or developed between bidders and clients.

Updated guidance on the countering of the financing of proliferation of weapons of mass destruction

To do this, Industry will be risk assessed for exposure to proliferation financing risk.

Reflections from the FIRE Starters Global Summit in Dublin

Interactive case study of a contentious high-value UK bankruptcy with multi-jurisdictional elements

Facilitating Corporate restructurings in the Cayman Islands – The new “Restructuring Officer”

The Amendment Bill will also make some helpful changes as regards who can apply to Court for the appointment of a restructuring officer.

Cayman Gov’t sets October deadline to seal financial deal on ReGen

Energy recovery facility projected to be commissioned in 2026

US-Spain cooperation leads to seizure of Russian yacht

US attorney general Merrick B. Garland said the case was the first seizure of a Russia-linked sanctioned individual’s assets and promised that it would “not be the last”.

South Africa anti-corruption charter ‘first step’ towards meaningful change

For these groups, the implication is that the signing would be a social contract and symbolic stand against corruption, as opposed to being of direct legal effect.

Financial firms can expect more scrutiny of outsourcing arrangements

Now much more detailed requirements are outlined in guidelines issued by the EU’s supervisory authorities, like the European Banking Authority (EBA), and national regulators – such as the Central Bank of Ireland – have issued their own g

US SEC Cyber Risk Management Proposed Rules

Although the proposed rules remain subject to comment, in many ways they reflect preexisting SEC expectations for how regulated entities should manage cybersecurity risks and report cybersecurity incidents.

UK government’s ZEV green paper a ‘significant change in direction’ on HGVs

If not fully zero emission, all new cars and vans sold in the UK between 2030 and 2035 must also have ‘significant zero emission capability’ (SZEC).

Regulatory risk ‘shifting upwards’ as FCA publishes new-look business plan

The plan targets the three areas in the FCA’s three-year strategy where it said it will strengthen its focus: ‘reducing and preventing serious harm’, ‘setting and testing higher standards’, and ‘promoting competition an

Prescription begins to run once there is a reasonable suspicion of negligence by the auditors

Between 2007 to 2013, WK Construction suffered a loss of approximately ZAR80-million as a result of one of its erstwhile directors effecting fraudulent transactions.

Grand Court Upholds Novel Use Of Receivership To Enable Beneficial Owner Of Shares In Cayman Investment Funds To Access Statutory Shareholder Protections

This was particularly problematic where there were serious concerns of wrongdoing in the management of the relevant fund.

Government Regulation