Region: Ukraine

The IBA’s Anti-Corruption Committee today presented an update on legal developments and enforcement action around the world.

22 October 2014

The Ukrainian parliament has today passed a law to introduce a new anti-corruption prosecuting agency, the National Anti-Corruption Bureau, according to reports. Ukrainian politicians also voted in favour of introducing a law that sets out a government strategy to implement further improvements to Ukraine’s anti-corruption programme.

14 October 2014

Ukraine is on the verge of introducing a new specialised anti-corruption prosecuting authority and an independent watchdog.

10 October 2014

Ukraine’s government has approved draft legislation of a proposed new anti-money laundering law, the country’s State Financial Monitoring Service said in a statement last week. The agency said the bill “on prevention of and counteracting money laundering, financing of terrorism or proliferation of weapons of mass destruction” was part of Ukraine’s obligations to meet the standards of  the international anti-money laundering body, the Financial Action Task Force, and the International Monetary Fund (IMF).

15 September 2014

The European Union adopted new sanctions against Russia on 8 September, but has delayed enforcing them to avoid derailing a fledgling ceasefire in Ukraine, which began three days earlier. In a statement, Herman Van Rompuy, president of the European Council, said the sanctions will come into force in “the next few days”, leaving time for an assessment of peace plans and the ceasefire agreement.

10 September 2014

The International Monetary Fund (IMF) will send US$1.39 billion to Ukraine after the country met a series of requirements, the organisation said on Friday. IMF managing director Christine Lagarde said the Ukrainian government met the requirements after the country continued work on the “establishment of a strong anti-corruption agency, enhancing the anti-money laundering framework, and simplifying the regulatory environment”.

02 September 2014

The Swiss Federal Council has imposed new restrictions on trade with Russia and parts of Ukraine, which limit investment in Crimea and Sevastopol, as well as trade with five banks. The measures, which are designed to prevent the circumvention of EU sanctions, came into effect on 27 August.

29 August 2014

Ukraine’s anti-corruption reforms have hit a snag after a government official threatened to resign in protest against a lack of progress.

21 August 2014

The broadening of an anti-circumvention list designed to stop Switzerland being used as a channel to bypass EU and US sanctions against Russia is likely to have little effect on multinational Swiss banks and companies.

07 August 2014

CMS Cameron McKenna has hired partner Olga Vorozhbyt, a compliance and foreign bribery investigations lawyer, in Kiev.

22 July 2014