28th April 2018
ENHANCED UK POWERS TO SCRUTINISE MERGERS ON GROUNDS OF NATIONAL SECURITY
On 27th April, Travers Smith LLP published an article saying that the U K government is to introduce enhanced powers to scrutinise mergers on grounds of national security and is considering further, more substantial such powers. This briefing looks at what these changes are likely to mean and whether they represent a move towards a more protectionist approach.
https://www.traverssmith.com/assets/pdf/legal-briefings/Prudence_or_protectionism_(April_2018).PDF
SIGNIFICANT CHANGES TO THE BELIZE COMPANIES – DEADLINE 1ST JULY
AGP Law in Cyprus produced a briefing on 27th April explaining changes to Belize company laws. The changes are said to be in in order to achieve full recognition within the evolving international standards of transparency promoted by FATF and OECD. This includes that the Registered Office in Belize will be bound to maintain files with the proper information about the ultimate beneficial owner of companies that they provide services to. Every company which has issued bearer shares shall convert such shares into registered shares and cancel all bearer share certificates, if any.
STOLEN SOMALI WEAPONS FOR SALE ON OPEN MARKET
Defence Web on 26th April reported that at least 600 weapons stolen from a former UAE-run training centre in Mogadishu are for sale in the city, weapons dealers said. The weapons, including new Kalashnikov assault rifles and Chinese versions of them, were stolen by Somali National Army soldiers trained by the UAE at its facility, 3 Somalis who purchased weapons from the soldiers told Reuters. The UAE ended its training programme on April 15th, shortly after security forces at Mogadishu airport seized millions of dollars and temporarily held a UAE plane. The UAE-trained troops began stealing weapons from the facility shortly after the programme was disbanded, dealers said. Soldiers sold guns directly to the dealers and indirectly via their brokers. The looting apparently occurred while the UAE was in the process of emptying its training centre. Meanwhile, a ship docked at Mogadishu port was loaded with equipment from the UAE training centre, including several dozen shipping containers of weapons, dozens of armoured vehicles fitted with anti-aircraft guns and hundreds of cars, a port staff member told Reuters.
PATRICK HO SOUGHT HELP FROM BEIJING TO FIGHT BRIBERY CHARGES, COURT DOCUMENTS SHOW
The South China Morning Post on 28th April reported that that the prosecutor has accused former Hong Kong minister Ho of getting financial support for his legal fees from an unnamed Shanghai-based energy firm.
PHARMACISTS IN IRELAND ALARMED OVER RISE IN ILLEGAL MEDICATIONS
RTE on 28th April reported that there has been a 40% increase in the amount of counterfeit or illegal medications seized in Ireland, according to the Irish Pharmacy Union. Last year almost 1 million medical doses were seized – half of which were steroids. The union fears that many of these anabolic steroids are being used by people to build muscle mass and improve sport performance.
https://www.rte.ie/news/2018/0428/958902-pharmacy-conference/
US WHITE COLLAR CRIME ENFORCEMENT LEGAL TRENDS
On 28th April, Harris Beach PLC advised that Harris Beach attorney Brian Mahoney presented a national webinar on “White-Collar Crime Enforcement: Legal Trends and Developments in 2017 and Beyond,” hosted by The Knowledge Group. The article lists the white collar crimes targeted by US prosecutors, and the factors taken into consideration by prosecutors. It also considers trends in FCPS (bribery/corruption) enforcement, and the status of the Yates memo that said that the DoJ would prioritise prosecution of individuals in corporate misconduct investigations.
https://www.jdsupra.com/legalnews/brian-mahoney-presents-on-white-collar-22740/
The webinar itself is available on You Tube –
AUSTRALIA SENDING PLANE TO MONITOR NORTH KOREAN SHIPS’ ‘ILLICIT TRADE’
The Guardian in Australia on 28th April reported that a P-8A Poseidon surveillance aircraft will look for ship-to-ship transfers of goods prohibited under UN sanctions. Apparently, Canada is also send aircraft, and the Royal Navy some ships.
FIFA BANS BRAZILIAN FEDERATION CHIEF OVER GRAFT
Baker McKenzie on 28th April reported that FIFA has banned Brazilian confederation president Marco Polo Del Nero from all football-related activity for life after he was found guilty of receiving bribes.
http://www.riskandcompliancehub.com/fifa-bans-brazilian-federation-chief-over-graft/
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