The events in Ukraine and the economic sanctions imposed on Russia raise a number of broader issues that financial services firms will need to consider, above and beyond the immediate concerns and challenges arising from the imposition of sanctions on clients and counterparties and heightened market volatility.
These include broader questions around governance, financial crime compliance and systems and controls, as well as the approach that firms want to take to manage their reputational risk and their regulatory position. Our global financial services team has broad experience supporting clients to navigate these complex issues from both a legal and compliance perspective.
Recent developments signal a rise in sanctions enforcement risk for UK regulated firms
Whilst historically there have been relatively low levels of sanctions enforcement in the UK, in light of recent developments, in the coming months we expect to see more scrutiny in this area and increased enforcement activity in relation to sanctions breaches.
Anti-money laundering: Regulation Around the World
A number of enforcement actions taken by regulators around the world have been a reminder for financial institutions that board involvement in, and appropriate oversight of, anti-money laundering/countering the financing of terrorism (AML/CFT) compliance programmes is critical.
Financial Services Academy: Sanctions
We are pleased to invite you to the next session of our Financial Services Academy, a series of online webinars aimed at up-and-coming in-house regulatory lawyers and compliance professionals who are not directly involved in sanctions related matters on a day-to-day basis, but who want to understand the sanctions regulatory framework.
Governance lessons learned: Experience from implementation of Russian sanctions
UK regulated firms seeking to comply with the Russian sanctions have had to grapple with fast moving legislative and regulatory change, and have inevitably encountered governance challenges along the way.
RT Plus - Beyond Sanctions – Enforcement
In this episode of our Beyond Sanctions series, David Harris and Katie Stephen, Co-Heads of our Contentious Financial Services Group in London, discuss some recent developments regarding sanctions enforcement for regulated firms.
Beyond Sanctions: Regulation Around the World
As a result of recent events in Ukraine, and the economic sanctions imposed on Russia, there are a number of potential issues facing financial institutions.
Hot topics in sanctions compliance for financial services firms, and broader considerations
The events in Ukraine and the economic sanctions imposed on Russia raise a number of issues that financial services firms will need to consider.
RT Plus - Beyond Sanctions - Cyber resilience
In this next instalment of our Beyond Sanctions series, Haney Saadah and Steve Hadwin discuss the FCA’s recent announcement concerning cyber security in light of the events in Ukraine and what boards should be thinking about.