Patisserie Valerie arraignments delayed

The judge and the barrister for one of the defendants took issue with the wording and formatting of the Serious Fraud Office’s indictment. That, together with extensive disclosure in the case, means a plea hearing has been postponed to next year.

07 November 2023

Caveats could limit impact of DOJ’s Safe Harbor policy, lawyers say

A new DOJ policy allows companies to avoid prosecution by swiftly reporting misbehaviour uncovered in the M&A process. But lawyers say they’re unsure how broadly the policy will benefit businesses given certain caveats outlined by the DOJ.

06 November 2023

US fines fintech company for sanctions violations

The Office of Foreign Assets Control hit Swift Prepaid Solutions with a fine of around $206,000 for issuing prepaid reward cards to users in Iran, Syria, Cuba and Crimea. The company’s voluntary disclosure of the misconduct and subsequent cooperation with investigators contributed to the relatively minor settlement.

06 November 2023

DOJ official highlights “clear imperative” to stop illegal exports to Russia

Assistant Attorney General Matthew Olsen said that Russian weapons recovered from the frontlines in Ukraine “far too often” contain component parts from the United States or a European ally.

06 November 2023

Theatre trips, private school fees and nannies: inside the UK’s effort to curtail oligarchs’ high-rolling lifestyles

Recently disclosed internal guidance reveals how the UK government seeks to limit the types of payments that sanctioned people can justify as meeting their “basic needs”.

03 November 2023

Head of Debevoise white-collar group steps down

Bruce Yannett, who chaired the practice for more than 10 years, told GIR he’s “incredibly proud” of what it has become, but added it’s time for a new generation of lawyers to step up.

02 November 2023

Sabre Corp reports potential sanctions violations to OFSI

US technology company Sabre Corporation, which provides specialist booking software for airlines, has self-reported potential sanctions breaches to the UK’s civil sanctions enforcer.

02 November 2023

UK appeals court to hear NCA supply chain-linked case

A London appeal court is set to hear arguments about the level of suspicion the National Crime Agency needs to have about human rights abuses in a company’s supply chain to open a money laundering investigation.

02 November 2023

Supreme Court declines to review PDVSA case after sanctions ease

Following a recent shift in US policy towards the country, the Supreme Court declined to review arguments by Venezuela’s state oil company that a board appointed by contested president Nicolás Maduro could bring a case accusing banks and oil traders of looting billions of dollars by bribing officials for inside information and illegal pricing.

01 November 2023

World Bank debars Bangladesh engineering company for 22 months

The Dhaka-based company admitted to engaging in “corrupt and fraudulent practices” related to a bank-funded project to improve water access in Chattogram.

01 November 2023

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