Of Counsel

An exclusive focus on the latest legislative developments and their impact from leading legal figures


exclusive UK contributor

Lewis Baach

exclusive US contributor

21 Feb 2017
Of Counsel

Have Deferred Prosecution Agreements come of age?

On 17 January 2017, at Southwark Crown Court, Lord Justice Leveson approved a deferred prosecution agreement (“DPA”) between the Serious Fraud Office (“SFO”), and Rolls-Royce Plc and Rolls-Royce Energy System Inc (“Rolls-Royce”).[1] The third DPA agreed by the SFO has led some to wonder whether DPAs have finally come of age as a weapon the SFO’s enforcement arsenal.

15 Sep 2016
Of Counsel

OFAC Compliance – It’s Not Just for Banks Anymore

In this exclusive Of Counsel piece, Katherine Toomey, Partner at Lewis Baach PLLC outlines the recent OFAC actions against ordinary (non-bank) companies and discusses how companies should approach the development of a compliance culture.

05 Sep 2016
Of Counsel

Cybercrime – tackling the invisible threat

On 7 July the National Crime Agency published its “Cyber Crime Assessment 2016 – need for a stronger law enforcement and business partnership to fight cyber crime”.

In this article, Neill Blundell, Head of the Fraud & Investigations Group at Eversheds and Jason Williamson, Eversheds Associate, consider (i) the growth in cyber crime, (ii) the challenges business face as a consequence and (iii) the practical steps businesses can take to enhance their defences against cyber-criminal activity.

04 Aug 2016
Of Counsel

Between “Baba Go Slow” and “the Bulldozer”: wrestling with corruption, poverty and business in Nigeria and Tanzania

Human and economic development in Nigeria and Tanzania have each been constrained by systemic corruption. In 2015, each country elected a president who campaigned on an anti-corruption manifesto. How successful have they been in fighting corruption – and why should businesses care anyway? Vivian Jones, Senior Associate in the global Fraud & Investigations Group of Eversheds, examines the two presidents’ styles and achievements to date.

07 Jul 2016
Of Counsel


In this exclusive Of Counsel piece, Julie Copeland and Mirella A. de Rose of Lewis Baach pllc, take a look at the “ABCs” of compliance.

05 Jul 2016
Of Counsel


A new global standard is being developed by the International Organisation for Standardisation on anti-bribery management systems, which is intended to help organisations fight bribery and promote an ethical business culture. The new standard, IS0 37001, is likely to become a benchmark for anti-bribery systems and may influence how regulators evaluate corporate compliance programmes.
In this article, Neill Blundell, Partner and Head of the Fraud & Investigations Group and Aisling O’Sullivan, Associate in the Fraud and Investigations Group, Eversheds, examine the draft ISO 37001 and its implications.

07 Jun 2016
Of Counsel

“Go Forth and Sin No More” – Opportunities for Amnesty in the United States

Adam S. Kaufmann and A. Katherine Toomey of Lewis Baach pllc discuss the advantages of self-reporting for those U.S. businesses who may fear that an upcoming disclosure, whether as a result of the Panama Papers scandal or elsewhere, may lead to a criminal or serious regulatory investigation in the U.S.

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    New EU beneficial ownership rules for trusts: good news for offshore?

    In March, the European Parliament voted overwhelmingly for new legislation to force EU countries to keep public registers of all parties in trusts in their jurisdiction. Beneficial owners would only be able to maintain anonymity if they could prove to the authorities that making their beneficial ownership public would put their personal safety at risk.

    Air Koryo, North Korea

    UK Treasury gets new powers for enforcing financial sanctions

    On 3rd April 2017, the UK Treasury gained access to new penalties for individuals and firms that breach UK financial sanctions. Under the new rules, any persons deemed to have been involved in serious breaches after the first of April 2017 may find themselves liable for penalties of up to £1 million or 50% of the value of the breach, whichever is higher.

    Susan Grossey: A record number of records

    In the olden days of the Third Money Laundering Directive (written on vellum by monks, you may recall), the distinction was drawn between KYC records (yes, way back before CDD was born) and transaction records. The former had to be kept for at least five years from the date of the end of the business relationship, and the latter for at least five years from the date of the completion of the transaction. But this time round – see Article 40 of the Fourth Money Laundering Directive – the line has moved.

    Deutsche bank computers, AI, artificial intelligence, FOREX, trading, bank

    The effects of artificial intelligence on the AML landscape

    As regulatory compliance initiatives move toward utilizing machine learning and artificial intelligence (AI), what effect might the increased efficacy of AML programs have on developing nations and small financial players without large compliance budgets?