Archived Briefings
Sanctions: negotiating the minefield
Sanctions obligations and processes continue to be a hot topic in 2010 due to the large fines levied on Lloyds and Credit Suisse in the latter part of 2009 re breaching US sanctions.
The US angle reinforces the need for all firms within the UK financial sector to meet their sanctions obligations effectively. However this involves deciding which sanctions regimes need to be complied with! Once the decision is made, this needs to be documented within a specific policy. The policy must be adhered to and not set aside where lucrative business would otherwise need to be turned away.
New Wire Transfer Cover Payment Regulations
If your organisation is involved in processing cross border wire transfers on behalf of your customers to areas outside of the European Union/European Economic Area, it is essential that you take note of the contents of this article as it contains the future global expectations in relation to the information that must be included in cover payment messages (MT202’s).
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The Bribery Bill - 2009 - Are your compliance controls robust enough to manage the impact?
In March 2009, the UK Government published a new draft Bribery Bill that, if enacted, will have a major impact on the way that companies based, or doing business in the UK operate. In particular the Bill seeks to create an international bribery offence and a corporate liability for negligently failing to prevent bribery.
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