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Perspectives on Cyber Risk
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Corporate misconduct and liability
August 14, 2017 6:12 PM |
Top Story │ Update on AUSTRAC allegations against the Commonwealth Bank of Australia [read more]
August 14, 2017 6:11 PM |
Top Story │ ASIC reportedly confirms it will investigate whether the Commonwealth Bank of Australia board complied with continuous disclosure obligations when it decided not to alert investors to the AUSTRAC investigation [read more]
August 7, 2017 12:35 PM |
AUSTRAC brings civil proceedings against Commonwealth bank for 'serious and systemic non-compliance' with the AML/CTF Act [read more]
June 26, 2017 2:28 PM |
Barclays Bank and four of its former senior staff charged with fraud by the Serious Fraud Office for events dating to the 2008 financial crisis [read more]
June 13, 2017 4:21 PM |
US Securities and Exchange Commission disgorgement orders subject to five year time limit [read more]
May 29, 2017 2:50 PM |
Further action has been taken by regulators to improve conduct in the foreign exchange market, including the release of a global code of conduct and a new ASIC report on the issue FX Global Code of Conduct
[read more]
April 10, 2017 6:22 PM |
The federal government is consulting on proposed reforms to Australia's foreign bribery regime, including a new corporate offence for failure to prevent foreign bribery. [read more]
April 3, 2017 1:42 PM |
Following 'overwhelming support' for the introduction of a deferred prosecution scheme for corporate wrongdoing in Australia, the federal government is consulting on a proposed model. [read more]
April 3, 2017 1:34 PM |
The Senate Economics References Committee has released the report of its inquiry into penalties for white collar crime, recommending increased civil penalties and disgorgement powers. [read more]
June 20, 2016 1:01 PM |
A new report has assessed disclosure of political risk in FTSE 100 annual reports, concluding that there is 'an excessive tendency to report risks in a generic form'. [read more]
June 20, 2016 12:54 PM |
EY's survey of FTSE 350 directors has found that culture is vital to overall strategy and performance, but that boards need to take more responsibility for defining and monitoring it. [read more]
June 14, 2016 2:30 PM |
A Melbourne Law School study of proceedings brought by ASIC and the CDPP for breach of directors' duties has provided empirical data to inform the current debate on penalties. [read more]
May 2, 2016 1:01 PM |
The federal government has announced a reform package designed to better enable ASIC to 'combat misconduct in Australia's financial services industry'. [read more]
April 4, 2016 3:54 PM |
ASIC has released its latest enforcement report: looking forward it will continue its focus on market integrity, corporate governance and misconduct in the wealth management industry. [read more]
March 23, 2016 5:07 PM |
The federal government is consulting on whether a scheme for Deferred Prosecution Agreements (DPAs) should be introduced in Australia for 'serious corporate crime'. [read more]
March 23, 2016 5:00 PM |
In a recent speech, ASIC chairman Greg Medcraft said that culture 'is not something that can be regulated with black letter law', but is an issue that companies themselves must address. [read more]
March 16, 2016 1:44 PM |
Australian commentators have highlighted a number of challenges companies face in establishing and protecting a healthy corporate culture. [read more]
February 24, 2016 2:01 PM |
The UK’s Serious Fraud Office has secured its first conviction under s 7 of the Bribery Act 2010, after Sweett Group PLC pleaded guilty to a charge that it had ‘failed to prevent an act of bribery’ [read more]
November 25, 2015 12:34 PM |
The Joint Head of Bribery and Corruption at the UK Serious Fraud Office has discussed how companies should go about engaging with the SFO. [read more]
November 25, 2015 12:32 PM |
The US Deputy Attorney General has further clarified the US DOJ's new approach to pursuing individuals for corporate wrongdoing, focusing in particular on the importance of cooperation. [read more]
November 11, 2015 4:53 PM |
A Director in Enforcement at the UK's Financial Conduct Authority has discussed some key issues firms should bear in mind when carrying out their own internal investigations. [read more]
September 16, 2015 2:58 PM |
The US Department of Justice has set out a number of measures designed to address the challenges faced by prosecutors in pursuing individuals for corporate wrongdoing. [read more]
July 22, 2015 11:07 AM |
The High Court has agreed to hear the Commonwealth's appeal against the Full Federal Court's finding that in civil penalties proceedings it should not have regard to penalties agreed by the parties. [read more]
May 20, 2015 4:46 PM |
An application for leave to appeal to the High Court is expected after the Full Federal Court held that it should have no regard to figures agreed with regulators in fixing the amount of pecuniary penalties. [read more]
May 13, 2015 3:05 PM |
Goldman Sachs and JPMorgan have disclosed updated information relating to the current status of legal and regulatory issues. [read more]
May 6, 2015 2:14 PM |
US government foreign bribery investigations spark backlash from Wall Street banks, who fear the outcomes may change the way they do business overseas. [read more]
May 6, 2015 2:11 PM |
The federal government has announced that it will establish the 'Serious Financial Crime Taskforce' to fight serious and organised financial crime. [read more]
April 29, 2015 5:06 PM |
According to an S&P report, Britain's biggest banks face a further US$29 billion of charges for past misconduct. [read more]
April 29, 2015 4:53 PM |
The UK Supreme Court has held that the principle that the Court will not assist a company to recover damages for its own wrong does not apply to a claim by a company against its directors for breach of their duties. [read more]
April 22, 2015 5:27 PM |
The ongoing probe into Brazil's Petrobras has raised questions about managing corruption risk in emerging markets. [read more]
April 22, 2015 5:22 PM |
Australia's top banks faced questioning by a Senate committee on financial misconduct, during which the banks reportedly indicated that they will conditionally support proposals to establish an industry-funded compensation scheme for victims. [read more]
March 25, 2015 11:59 AM |
General news in shareholder activism. [read more]
March 4, 2015 12:31 PM |
US Attorney General puts 90 day deadline on prosecutors to decide if they can charge individuals for the their roles in the GFC. [read more]
February 3, 2015 5:01 PM |
A dozen US banks face an antitrust lawsuit brought by investors over the alleged rigging of the foreign exchange market. [read more]
January 20, 2015 4:33 PM |
Jamie Dimon argues that 'banks are under assault' as JPMorgan and Citigroup profits are affected by legal costs following government probes. [read more]
January 20, 2015 4:31 PM |
Insider trading: raising the bar for tippee prosecutions in the US. [read more]
January 19, 2015 10:00 AM |
The modern auditing function needs to respond to continuing accounting fraud scandals, contends The Economist. [read more]
December 10, 2014 2:46 PM |
Australian agencies are under increasing international pressure to prosecute corrupt corporate citizens, says risk expert. [read more]
November 26, 2014 9:04 AM |
US court orders Credit Suisse to pay $1.8 billion for helping Americans to evade income tax. [read more]
November 26, 2014 9:03 AM |
Chancellor George Osborne withdraws UK Treasury's challenge to EU bonus cap. [read more]
November 19, 2014 1:53 PM |
The Supreme Court of Victoria has construed a particular deed of indemnity as requiring a company to make payments for legal costs incurred by its former CEO in defending criminal proceedings prior to a verdict, despite the absence of the usual 'advances of money' provision. [read more]
November 19, 2014 1:50 PM |
Six big banks have reached a combined settlement of $4.3 billion for manipulating the $5 trillion foreign exchange. [read more]
October 15, 2014 12:15 PM |
There are fears that the UK's proposed 'Senior Managers Regime' will make bank directorships less appealing. [read more]
October 9, 2014 10:42 AM |
Banks may face fines totalling £1.8 billion as concerns are raised about the unfeasibility of fines and uncoordinated approach of regulators. [read more]
October 7, 2014 4:16 PM |
Corporate settlements in the US are said to be undermined by a lack of individual prosecutions. [read more]