In the latest edition of the law firm’s review, Allen & Overy  –

  • identifies an increasing trend by national courts across a number of jurisdictions, particularly France and Italy, to apply extraterritorial jurisdiction to a number of criminal offences committed by corporates;
  • the increasing use of Deferred Prosecution Agreements and similar tools – most notably in France but now potentially in Germany;
  • the long-awaited first contested trial for corporate failure to prevent bribery;
  • progress on the 5th Money Laundering Directive, even while 4th Directive continues to be implemented in a small number of jurisdictions;
  • the extra-territorial reach of French AML laws in French carbon tax scam litigation;
  • the German FIU reportedly faces administrative challenges following reorganisation;
  • in Spain, the proceeds of tobacco smuggling are deemed not illicit, because where smuggling leads to profits of less than €150,000, such activities are deemed in Spain to be administratively illegal, not criminal;
  • in the UK, the JMLSG publishes updated guidance On AML/CFT in asset finance and syndicated lending;
  • success in acting to reinstate Romania’s best-known anti-corruption magistrate.

It details the status of the implementation of the 4th Money Laundering Directive in the Member States.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: