On 24 December 2020 the Fiscal Procedure Code in Romania was amended and several fiscal-budgetary measures were approved. This law came with many important changes in the area of fiscal law, but it also impacts, to a large extent, the field of white-collar crime.
As the level of sophistication of economic crime has evolved and increased, there has been a growing need to streamline the mechanisms for confiscating its benefits, thus eliminating its economic incentive and inculcating the idea that ‘crime does not pay’. The law went beyond a strict definition of white-collar crime and entered what is seen …
Continue reading “New Portuguese powers to seize criminal spoils – a dangerous game”
In September 2020, the French Minister of Economy (Bercy) announced more controls on financial and tax optimisation schemes. This statement is part of the logical flow in reinforcing the fight against tax fraud in France.
It is an undeniable truth that the regulatory framework and law in relation to anti-corruption in India has undergone a significant change in the last couple of years. Considerable amendments have been made that have tightened disclosure requirements in the light of swelling number of financial frauds in India. To that end, the government of …
Continue reading “Recent shifts in India’s anti-bribery and anti-corruption strategy”
In our increasingly globalised world, crime and in particular white-collar crime often traverse multiple jurisdictions, involving persons from all over the globe. With a few clicks of a button, the technology that connects our world can also facilitate the concealment, manipulation and dissipation of assets, information and documents. This makes such crimes difficult to detect, …
While in-house lawyers were struggling during 2020 to deal remotely with the myriad commercial crises affecting their company, financial crime prosecutors globally were continuing to raise the bar on company compliance programmes – signalling repeatedly that any company seeking a reduced penalty or other form of leniency following a compliance incident would need to demonstrate …
Continue reading “Compliance programmes – why it pays to be up to scratch”
Adapting Mexican corporate governance policy related to new market realities would need corporate law reform with the backing of enforcement. Nevertheless, certain local instruments – which lack binding force and which may, at best, fit in the category of ‘soft law’ – attempt to direct corporate practices through a voluntary approach. This is the case …
Continue reading “Corporate governance in Mexico: overview and trends 2021”
In our article, we will highlight recent developments and key issues for corporate governance in Switzerland. Several developments are driven by the new corporate law reform that has been passed last year. This includes a new gender quota, fine-tuning of executive compensation regulation, and other corporate governance topics. In addition, we will discuss the new …
Greek Law 4706/2020 (the Law) will take effect in July 2021. The Law brings about broad reforms in the landscape of corporate governance, aiming to upgrade compliance standards, enhance transparency and restore investor trust. Following is an overview of selective key aspects of the Law, together with our preliminary assessment of the proposed new approach.
Transactions for the transfer of assets of commercial enterprises, and commercial enterprises in toto, have always been somewhat controversial under Turkish law. A threshold issue is whether, under applicable law, the divested asset(s) comprise the seller’s total enterprise. In this respect, it is important to start with the definition of an asset transfer under Turkish …
Continue reading “Substantive and procedural issues in asset purchases under Turkish law”
On 20 September 2019, the Brazilian federal government, lead by the president Jair Messias Bolsonaro, enacted Law No 13,874/2019 (the Brazilian Economic Freedom Act), which was passed with the aim of (i) reducing day-to-day bureaucracy for Brazilian investors, (ii) establishing free market guarantees and (iii) providing greater legal certainty for Brazil’s business environment. As a …
2020 tested the resilience of organisations in ways that were unprecedented and, with further restrictions on movement imposed at the start of the new year, continued disruption seems inevitable for the foreseeable future. For many, continued homeworking – and the challenges that brings – is likely to be an everyday feature of life for some …
Continue reading “Cybercrime: tackling the many faces of a growing threat”