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Enforcement Authority United Kingdom

BCLP

The FCA’s Commitment to “test and Use” Its Powers Pays Off in FCA v Bluecrest Capital

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The recent decision by the Court of Appeal in FCA v BlueCrest Capital Management [2024] EWCA Civ 1125 reverses the Upper Tribunal’s decision in BlueCrest Capital Management (UK) LLP v FCA [2023] UKUT 00140 (TCC) (which we...more

Latham & Watkins LLP

A Look At UK, EU And US Cartel Enforcement Trends

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Demonstrating both increased cross-border collaboration and the adoption of novel theories of cartel violations, the European Commission and the U.K. Competition and Markets Authority, together with the U.S. competition...more

Pillsbury - Internet & Social Media Law Blog

The UK Introduces Tougher Penalties for Consumer Protection Breaches

In May 2024 the UK passed the new Digital Markets, Competition and Consumers Act (DMCC). Amongst other changes, the DMCC grants the UK Competition and Markets Authority (CMA) new powers to directly impose fines of up to 10%...more

BCLP

Major Changes to Consumer and Competition Rules, a New Digital Regime and More Power to the CMA

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On 23 May 2024, over a year since its introduction to Parliament, the DMCC Bill was rushed through before the proroguing of Parliament ahead of the July UK General Election. It received Royal Assent the following day....more

WilmerHale

The FCA Enforcement Club: Public Membership Soon to be Available...

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“The first rule of enforcement club is that you do in fact talk about enforcement club”; so Therese Chambers, the UK Financial Conduct Authority’s (FCA) joint executive director of enforcement and market oversight, announced...more

BCLP

On Watch - Do regulators now expect firms to monitor communications using AI?

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Artificial Intelligence (AI) is no longer just a buzzword, but a reality that is firmly on the radar of regulators and regulated firms in the US and UK. Recently, considerable investment into this area has prompted...more

BCLP

Stumbling Block? What is the Path Ahead for DeFi Through the Eyes of Policymakers?

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DeFi development carried quietly on throughout 2023, but DeFi protocols also faced significant hurdles. In the US, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) increased their...more

WilmerHale

Call for Reform of Regulatory Supervision of Auditors

WilmerHale on

Chartered accountants are accustomed to continuous oversight of their work by regulators. While regulatory supervision can often be a collaborative process, it does sometimes culminate in individual accountants and firms...more

WilmerHale

The Emergence of a Global Russia Sanctions Enforcement Regime

WilmerHale on

The year since Russia’s invasion of Ukraine has been marked by the development of a multi-jurisdictional, multi-agency sanctions regime in the United States, the United Kingdom and the European Union. Although coordination...more

American Conference Institute (ACI)

How to Handle a Cross-Border Anticorruption Investigation

Juggling conversations with multiple enforcement agencies simultaneously in the course of a cross-border anticorruption investigation can be a difficult and daunting task for legal and compliance teams. Getting it right can...more

WilmerHale

Access points: how to respond to raids by UK investigating authorities

WilmerHale on

Following recent media reports of raids conducted by the UK National Crime Agency (NCA) - including at domestic residences - as part of a Covid-linked fraud investigation, and visits by the UK Serious Fraud Office (SFO) to...more

Latham & Watkins LLP

A More Aggressive UK Pensions Regulator?

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The Regulator’s expanded powers, effective 1 October 2021, reinforce the need for all relevant parties to give proper consideration to the effect of corporate transactions, refinancings, restructurings and other activity on...more

BCLP

FCA proposals to cut out RDC involvement in significant supervisory cases will lead to undesirable outcomes for the regulator and...

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At the end of July 2021, the FCA published a consultation paper, CP21/25, setting out proposals to reduce the decision-making remit of its quasi-independent Regulatory Decisions Committee (“RDC”) and instead bring those...more

BCLP

Who, Sir? Me, Sir? Appointing GDPR Representatives in the UK and the EU

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This article explores the topic of appointed representatives under Article 27 of the GDPR. What are they? When do you need one? How is regulatory enforcement starting to play out in the EU and in the UK on this issue?...more

BCLP

Economic Crime: the Crown Prosecution Service unveils its strategy

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On 30 March 2021, the Crown Prosecution Service (CPS) published an overview of its strategy in relation to economic crime, outlining its high-level goals leading up to 2025. In it, the CPS ambitiously commits “to ensure the...more

Dorsey & Whitney LLP

UK To Adopt New Powers Over M&A Activity To Protect National Security

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Draft legislation, which is currently being debated in the UK Parliament, will introduce a new regime granting the UK Secretary of State robust powers to review, vary or block acquisitions which may pose a risk to the...more

Latham & Watkins LLP

UK Government Publishes Full Response to Online Harms White Paper

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Organisations face fines of up to 10% of annual global turnover or £18 million (whichever the greater) for failure to comply. On 15 December 2020, the UK government published its full response to the Online Harms White...more

Dechert LLP

Overseas Production Orders – Where are we now?

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In March 2019 Dechert reported that the Crime (Overseas Production Orders) Act 2019 (the “COPO Act”) had granted UK authorities new extra-territorial powers....more

Latham & Watkins LLP

CMA COVID-19 Taskforce to Investigate Unfair Cancellation and Refund Practices

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The CMA has launched a programme of work to investigate reports of businesses failing to respect cancellation rights during the COVID-19 pandemic. The CMA’s COVID-19 Taskforce Update on 24 April 2020 noted that its...more

BCLP

Environment Agency reassures operators in wake of COVID-19

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The Environment Agency is responding to the compliance difficulties that businesses face as a result of COVID-19 with some much needed reassurance as to its enforcement position. In the last few days, the Environment...more

Latham & Watkins LLP

Unexplained Wealth Orders Subject to Rigorous Judicial Scrutiny

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Recent judgments help to clarify purpose and threshold of unexplained wealth orders. The National Crime Agency (NCA) has had a mixed start to 2020, with appeals heard on unexplained wealth orders (UWOs) testing the new...more

Latham & Watkins LLP

Competition Law in the Energy Sector: What to Look Out For in 2020

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Ofgem’s recently announced goals and developments and changes to the post-Brexit state aid regime will have important implications for market players. 2020 is set to be a an important year for competition law-related...more

Holland & Knight LLP

Lessons Learned from the Airbus Anti-Corruption Settlements

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In late January 2020, Airbus agreed to pay nearly $4 billion and to take a number of remedial measures in order to resolve alleged corruption violations with the French National Financial Prosecutor's Office (PNF), the United...more

Seyfarth Shaw LLP

Top 10 Developments and Headlines in Trade Secret, Non-Compete, and Computer Fraud Law for 2019 & 2020

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Continuing our annual tradition, we have compiled our top developments and headlines for 2019 & 2020 in trade secret, non-compete, and computer fraud law. Here’s what you need to know to keep abreast of the ever-changing law...more

Latham & Watkins LLP

No-Poach Prosecutions: A Growing Problem for Private Equity?

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Buyout firms and portfolio companies should take note of heightened scrutiny of HR and employment practices by antitrust enforcers, both in the US and in Europe. No-poach and wage-fixing agreements — arrangements between...more

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