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Nov 14, 2024 | 
jdsupra.com | Jonathan Benson |Andrew Good |Ryan Junck
[co-author: Frank Lech] Introduction On 6 November 2024, the UK government published its guidance on the new ‘failure to prevent fraud’ offence, which was introduced in the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023).1 We covered the details of the new offence in our 12 September 2024 alert: In summary, the establishment of the new offence will mean that, starting from 1 September 2025, companies can be held criminally liable where a fraud offence is committed by an...
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Nov 5, 2024 | 
jdsupra.com | Jonathan Benson |Karolina Kopczynska-Grobelny |Ryan Junck
[co-author: Frank Lech]What is the EU Corporate Sustainability Due Diligence Directive? The Corporate Sustainability Due Diligence Directive (CS3D) is a pivotal European Union directive that mandates human rights and environmental due diligence for in-scope EU and non-EU companies. The directive requires in-scope companies to conduct due diligence across their entire “chains of activities” globally to ensure compliance with human rights and sustainability standards.
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Oct 7, 2024 | 
lexology.com | Ryan Junck |Jonathan Benson |Jason Williamson |Karolina Kopczynska-Grobelny |Jack Zaher
On 27 September 2024, the UK’s financial sanctions regulator, the Office of Financial Sanctions Implementation (OFSI), announced that it had issued its first monetary penalty for a breach of UK financial sanctions imposed against Russia following its invasion of Ukraine in February 2022.
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Sep 27, 2024 | 
jdsupra.com | Avia Dunn |Andrew Good |Ryan Junck
On September 23, 2024, the U.S. Department of Justice (DOJ) updated its Evaluation of Corporate Compliance Programs (ECCP) guidance. First published in 2017, the ECCP sets out factors that DOJ Criminal Division prosecutors will consider when evaluating the compliance program of a company facing a criminal enforcement action. While primarily intended for prosecutors, the ECCP also serves as a valuable resource for companies to assess how their programs might be judged by the DOJ.
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Sep 25, 2024 | 
jdsupra.com | Jonathan Benson |Andrew Good |Ryan Junck
On 12 September 2024, the UK government published The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (Regulations) which, among other things, set out the powers of the new Office of Trade Sanctions Implementation (OTSI), the long-awaited agency that will have responsibility for the civil enforcement of most of the UK’s trade sanctions.1 OTSI, which will sit within the UK Department for Business and Trade, will commence operations on 10 October 2024, when the...
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Sep 12, 2024 | 
jdsupra.com | Jonathan Benson |Andrew Good |Ryan Junck
The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes1 — when the Economic Crime and Corporate Transparency Act 2023 (the Act) became law in the UK on 26 October 2023. A key innovation introduced by the Act is the new failure-to-prevent-fraud offence that will make it easier for companies to be criminally prosecuted.
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Sep 11, 2024 | 
jdsupra.com | Jonathan Benson |Karolina Kopczynska-Grobelny |Ryan Junck
On 31 July 2024, the UK government broadened its Russian sanctions regime, giving the government express power to impose sanctions on persons who provide financial services, or make available funds, economic resources, goods or technology to persons involved in obtaining a benefit from or supporting the Russian government.
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Sep 4, 2024 | 
lexology.com | Jonathan Benson |Ryan Junck |Jason Williamson
IntroductionRussia’s invasion of Ukraine has resulted in unprecedent judicial scrutiny of the UK’s sanctions regulations. While the judgments delivered in many cases have provided companies with needed certainty on some topics, the courts have struggled to provide clarity on the key issue of when an entity is indirectly targeted by sanctions due to a targeted person controlling an entity.
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Aug 11, 2024 | 
concurrences.com | Bill Batchelor |Ryan Junck |David Simon |Nicola Kerr-Shaw
SummaryIn Nuctech Warsaw (T-284/24), the EU Court of Justice held that EU subsidiaries can lawfully be required to provide access to email accounts and data held by their overseas parent company. The ruling involved the following framing: Broad reach of EU extraterritorial investigative powers: The order interprets the European Commission’s (EC’s) investigative powers broadly. EU law applies to conduct with significant effects in the EU, even if the conduct occurs outside the EU. Consequent...
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Aug 11, 2024 | 
concurrences.com | Bill Batchelor |Ryan Junck |David Simon |Nicola Kerr-Shaw
SummaryIn Nuctech Warsaw (T-284/24), the EU Court of Justice held that EU subsidiaries can lawfully be required to provide access to email accounts and data held by their overseas parent company. The ruling involved the following framing: Broad reach of EU extraterritorial investigative powers: The order interprets the European Commission’s (EC’s) investigative powers broadly. EU law applies to conduct with significant effects in the EU, even if the conduct occurs outside the EU. Consequent...
