News & Analysis as of

United Kingdom Financial Institutions Sanctions

A&O Shearman

UK FCA Financial Crime Guide consultation: more obligations, or old news?

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As financial crime compliance pressures grow, the UK Financial Conduct Authority (FCA) continues to emphasise the significance of its Financial Crime Guide (FCG) as part of the overarching regulatory framework for financial...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

A&O Shearman

Key Regulatory Topics: Weekly Update 8 - 14 Mar 2024

A&O Shearman on

There were some key publications this week in relation to financial crime, including a Commission request for the EBA to advise on standards and guidelines under the future AML/CFT framework in Europe and, in the UK, an HMT...more

Conyers

Regulatory & Risk Advisory Outlook 2024: Cayman Islands

Conyers on

2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Announces Creation of New Trade Sanctions Enforcement Agency and Introduces Further Sanctions Against Russia

With Russia’s invasion of Ukraine nearing the end of its second year, the United Kingdom has continued to introduce sanctions measures against Russia, with the latest round announced on 14 December 2023....more

A&O Shearman

UK Legislates on Differentiating Risk of Domestic Politically Exposed Persons

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The Money Laundering and Terrorist Financing (Amendment) Regulations 2023, which amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (known as the MLRs), come into...more

A&O Shearman

Losing control: What the Mints Court of Appeal judgment means for UK sanctions

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On 6 October 2023, the Court of Appeal handed down judgment in the case of Mints & ors v PJSC National Bank Trust & anor [2023] EWCA 1332. The judgment confirmed that the UK’s sanctions do not preclude the English courts...more

American Conference Institute (ACI)

[Event] 2nd Forum on Digital Assets Compliance: AML, Sanctions and Regulatory Oversight - October 17th - 18th, New York, NY

With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more

A&O Shearman

US, EU And UK Maintain Pressure Through Russia Sanctions

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Over a year has now passed since Russia invaded Ukraine, and the U.S., the EU and its member states, the U.K., and many others—including Japan, Australia, New Zealand, Taiwan and Canada—continue to exert pressure on Russia...more

A&O Shearman

UK Russia sanctions: back in the spotlight

A&O Shearman on

Sanctions and the systems and controls companies have in place to comply with them seem to be back in the spotlight. In addition to guidance recently published by the UK Financial Conduct Authority, a number of recent...more

Katten Muchin Rosenman LLP

UK High Court Hands Down Decision in Sova Capital

Key Points - - This application was brought in the wake of sanctions imposed by the United Kingdom, United States and European Union in response to the Russian invasion of Ukraine and involved a complex assessment of...more

A&O Shearman

UK Financial Conduct Authority Acts to Improve Financial Crime Issues at Challenger Banks

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The U.K. Financial Conduct Authority has published the findings of its multi-firm review into financial crime controls at challenger banks. The FCA undertook the review in 2021 in response to the 2020 National Risk Assessment...more

A&O Shearman

UK Regulators Publish Statement on Sberbank CIB (UK) Limited Administration

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The FCA has announced that Sberbank CIB (UK) Limited, the U.K. arm of Sberbank's corporate and investment banking division, has entered special administration. The firm has found itself unable to make payments due to the...more

A&O Shearman

Implications for Credit Agreements After the Russian Invasion of Ukraine

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Following the recent Russian invasion of Ukraine, many countries, including the United States, the United Kingdom and member states of the European Union, have imposed a coordinated series of sanctions unprecedented in scope...more

Morgan Lewis

UK Government Announces Changes to UK Sanctions List Structure & Format

Morgan Lewis on

The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and Office of Financial Sanctions Implementation (OFSI) have announced they will change the structure and format of the UK Sanctions List and OFSI’s...more

Morrison & Foerster LLP

UK Litigation - A Year in Summary

Morrison & Foerster LLP on

This year saw the UK grapple with life after Brexit and, along with the rest of the world, the impact of the continued COVID-19 pandemic. As 2021 draws to a close, we round up the key events and developments from the year in...more

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