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Jul 8, 2015 Software companies and revenue recognition Ben Brocklehurst of Byrne & Partners LLP considers the pitfalls associated with the application of software companies’ revenue recognition policies in his Law Society Gazette article Click Here for the Article About Ben Ben Brocklehurst is a vastly experienced legal executive with particular expertise in defending high value white collar crime and related Restraint/Confiscation proceedings. Ben.Brocklehurst@byrneandpartners.com 020 7842 ... Read More
Jul 4, 2015 Fourth Anti-Money Laundering Directive In a recently published article in Criminal Law and Justice Weekly Magazine, Ilana Hutton has explained the background to the LIBOR scandal and its impact for investors. “Flows of illicit money can damage the integrity,stability and reputation of the financial sector, and threaten the internal market of the Union as well as international development. Money laundering, terrorism financing and organized crime remain significant problems which should be addressed at Union level. ” [Directive of the European Parliament and of the Council on the Prevention of the use of the financial ... Read More
Jun 19, 2015 Flash crash U.S. prosecution – should the FCA be taking notes? On 6 May 2010 the prices of many U.S. based equity products plunged dramatically in a matter of minutes – before rebounding almost as quickly. The crash of the markets, known as ‘the flash crash’, caused major equity indices in both the futures and securities markets to plummet 5-6%. Nearly five years later a criminal complaint was filed in the United Stated District Court in Chicago against Mr Navinder Sarao because he allegedly contributed to the flash crash. Sarao is accused of deliberately spoofing and manipulating the market over a period of nearly five years by ... Read More
Jun 17, 2015 LIBOR - what's the big deal? In a new article in welathadvisor magazine, Byrne and Partners' criminal/regulatory partner Sara Teasdale has explained the background to the LIBOR scandal and its impact for investors. She writes that in 1984 concerns emerged that with banks increasingly trading a variety of options based on loans there developed a need to standardise the pricing of those loans. The British Bankers’ Association (BBA) established various working parties and in October 1984 the production of the BBA standards for interest swap rates (BBAIRS) was born. The full article is ... Read More
Mar 23, 2015 Overseas corruption: oiling the wheels Brazil and Nigeria are both relatively new democracies with oil sectors that could, and should, support their future prosperity but are undermined by corruption. However, they are taking very different approaches to dealing with the problem. In Brazil the police are currently unearthing the deals making up ‘Operation Carwash’: $9bn of suspect transactions by Petrobras, the 40% state-owned oil company. To date, 39 indictments have been issued and the prosecutors have reportedly targeted recoveries of $400m. The current government has not yet been implicated but the recent ... Read More
Mar 9, 2015 Undue Disclosure - Legal risk in UK data-sharing initiative In a recent interview with the Evening Standard, Kieth Bristow, Director General of the National Crime Agency, revealed a new information sharing agreement (ISA) between the NCA and 10 of Britain's biggest banks. In a new article published on Money Laundering Bulletin, Lisa McKinnon-Lower of Byrne and Partners questions the erosion of confidentiality and privacy; she believes legal challenges are inevitable The full article is available to Money Laundering Bulletin subscribers: http://www.moneylaunderingbulletin.com About Lisa Lisa is a criminal litigation lawyer with ... Read More