May 16, 2022

Hong Kong: The duties of Hong Kong company directors and valuers: The SFC issues a warning

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Article by Alex Potts From Sedgwick Chudleigh Nearly half of the market capitalization of the Hong Kong Stock Exchange is represented by companies incorporated in either Bermuda or the Cayman Islands. Directors, officers, and insurers of such companies need to keep abreast, therefore, of both Hong Kong law, as well as the laws of Bermuda […]

U.K. Serious Fraud Office enters first deferred prosecution pact, with ICBC Standard Bank

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By Sue Reisinger, From Corporate Counsel ICBC Standard Bank on Monday agreed to pay $36.9 million in a global settlement with the U.S. and U.K. governments over a bribe paid to secure business with the Tanzanian government. The settlement marked the first time that the U.K.’s Serious Fraud Office (SFO) used a deferred prosecution agreement […]

Criminal prosecution of corporations: more likely and much harsher

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From Taylor Wessing After much anticipation, it has been announced that deferred prosecution agreements (DPAs) will become available in the UK from 24 February 2014. The SFO, inspired by the extensive and successful use of DPAs by American regulators, is hopeful that their introduction in the UK will be an effective tool for tackling serious […]