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Legal & Regulatory Updates

Keeping up with the ever-changing landscape of compliance regulations is one of the biggest challenges of our work. These updates will make that a little easier. Use the legal and regulatory feed to stay current on the latest news and regulations impacting the world of compliance.

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Portugal: Legal Regime on the Beneficial Ownership Central Register – Implementation Ministerial Order

09/14/2018

In Portugal, the Ministerial Order 233/2018, which regulates the Legal Regime on the Beneficial Ownership Central Register, was issued.

UK: Court of Appeal Moves to Protect Legal Professional Privilege

09/07/2018

The Court of Appeal has handed down its much-anticipated judgment in the case of The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Limited [2018] EWCA Civ 2006, overturning the most controversial aspect of the first instance decision.

Russia: Important Amendments to the Procedure for Prosecuting Companies for Bribery

09/03/2018

Companies in Russia may avoid liability in domestic bribery cases if they assist in identifying the offence (e.g. by disclosing information), assist in investigation of the bribe, or if the bribe has been extorted.

New Ecuadorean Resolutions Establish Mandatory Compliance Programs for Financial Institutions and Insurance Companies

08/27/2018

The Ecuadorean authorities have issued mandatory resolutions for compliance matters to establish anti-money laundering and financing of terrorism compliance programs.

German Data Protection Authorities Establish New Rules for Whistleblowing Hotlines: Call for Action

08/22/2018

In light of the implementation of the General Data Protection Regulation, the German data protection authorities have changed their position on how employees submit whistleblowing reports anonymously. The German data protection authorities have issued guidelines in this regard.

The New Anti-Corruption Act: Clearly Defined to Cover Foreign Juristic Persons Registered Abroad

08/10/2018

On 22 July 2018, the Act Supplementing the Constitution Relating to the Prevention and Suppression of Corruption came into effect, replacing the previous anti-corruption law from 1999. Among other things, the reason for implementing the new law is to enhance measures and mechanisms to prevent and suppress corruption and willful misconduct.

EU: 5th EU Anti-Money Laundering Directive Published

07/16/2018

The EU Commission proposed the revised AMLD in July 2016 as part of its Action Plan against terrorism announced in February 2016, after the attacks in Paris and Brussels, and as a reaction to the Panama Papers published in April 2016.

A UK Corporate Governance Code That is Fit for the Future

07/16/2018

The Financial Reporting Council has published a new guide for best practices in corporate governance. It puts new emphasis on boards engaging with senior managers in issues of corporate culture and employee complaints, and says the board is responsible for policies and practices which reinforce a “healthy culture.”