Directive 2015/2366/EC, known as the recast Payment Services Directive (PSD2), entered into force on 12.01.2016 and requires Member States to ensure compliance with its provisions by 13.01.2018. According to its Preamble, the PSD2 seeks to achieve alignment with the developments in the market and the emergence of new technologies and types of payment services, to …
A is for award! It is essential to start with the end result in mind; the purpose of any arbitration is to secure an award that you can ratify and enforce against the respondent’s assets. An unenforceable award is worthless and unfortunately in the Gulf you have a greater chance of ending up in this …
Third-party due diligence systems are receiving renewed interest in Turkey. An increasing number of companies are adopting compliance programs to create an ecosystem of compliance for both antitrust and anticorruption issues. The companies are opting to invest in these systems due to active local authorities, increasing digitalisation, and to have an adequate control on compliance …
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Being a director or senior officer of a corporate organisation has a number of responsibilities. With these is a corresponding liability when things go awry. These include the possibility of a prosecution if the criminal law has been breached.
The In-House Lawyer’s earlier survey with DAC Beachcroft in the Spring 2017 issue, ‘Managing Risk: The In-House View’ identified these key points:
Internal investigations can be challenging – they are fast paced, highly sensitive, completely confidential and necessitate strategic choices at every turn. They require a steady hand at the helm, guided by the most accurate and precise information available at the time. Internal investigations combine a number of skills such as crisis management, damage control and …
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Innovation in legal services remains the buzzword of the moment, yet what clients require from their law firms remains the same – a true understanding of both their legal and business needs. Firms continue to explore the cost and time-saving benefits that AI and legal technology bring, as well as employing flexible resourcing models as …
With investigations such as the Paradise Papers and LuxLeaks placing tax arrangements squarely under the spotlight, it seems clear that businesses as well as wealthy individuals need to consider tax planning from a reputational as well as a legal perspective. In the eyes of the public, there is scant difference between tax evasion and aggressive …
Continue reading “Criminal Finances Act: another change to the corporate legal landscape”
As expected – or feared – implementing the incoming General Data Protection Regulation (GDPR) is a mammoth task for some companies. ‘It is all-encompassing,’ says Karen Kerrigan, chief legal officer at equity crowdfunding firm Seedrs. ‘The advantage of being a small business is that you can involve all the other departments. Frankly, I would be …
When a company learns that there may have been serious misconduct within the organisation, one option is for it to conduct its own internal investigation to establish what has happened, who is liable and how to make sure that it does not happen again. A company investigation may take place either instead of or in …
The final session of the 2017 Commercial Litigation Summit sought the views of senior in-house counsel on managing disputes. Chairing the panel, Stephen Moriarty QC of Fountain Court Chambers kicked off the debate by tackling the perception of an in-house department as a cost centre – effectively, a necessary evil – citing the CV of …
Political and public pressures continue to drive significant changes in the approach to criminal corporate enforcement throughout the world. The UK has proved no exception and in September 2017 the Criminal Finances Act 2017 created another strict liability criminal offence for businesses, for failing to prevent facilitation of UK or foreign tax evasion.