The Cayman Islands, a British overseas territory, has long been recognized as one of the world’s leading providers of institutionally focused financial services and a preferred destination for the structuring and domiciling of sophisticated and specialized financial services products, particularly investment funds. However, for a number of reasons, the inherent risks to the Cayman Islands’ … Continue Reading
Following its agreement with the United Kingdom, the United States announces formal negotiations are underway with Australia about joining the CLOUD Act. Although also a bi-lateral negotiation, the U.S. talks with Australia strike a more practical tone than those with the U.K.… Continue Reading
Gaming company Tabcorp has been fined $45 million for breaching anti-money laundering and anti-terrorism financing laws. The Federal Court found that Tabcorp broke the law on 108 occasions over five years. The fine imposed by the Federal Court is the highest civil penalty in Australian corporate history. The multi million dollar fine was handed down … Continue Reading
If you’ve ever been to Australia, or are familiar with Australian politics, there is a good chance that you have heard the catch cry of the ‘fair go.’ For our non-Australian audience, this can be roughly translated to ‘equality of opportunity for all Australians’. As we all know, in the United States freedom of speech … Continue Reading
Australian Sports Coalition Makes Submission to Foreign Bribery Senate Inquiry The Coalition of Major Professional and Participation Sports Inc. (COMPPS) has made a submission to the Senate Inquiry into Foreign Bribery, calling for a federal legislative response to tackle the threat of local and cross-border match fixing in Australia. As sports betting in legal and … Continue Reading
The AFP’s new Fraud and Anti-Corruption Centre (FAC Centre) says it is ramping up investigations on foreign bribery, sending a clear warning that Australian companies with foreign operations need to get their house in order. FAC Centre Manager Commander Linda Champion recently told The Australian Financial Review that the AFP “started ramping up [their] efforts … Continue Reading
The United States and Australia have entered into a memorandum of understanding that will facilitate the countries’ sharing of crime-combatting resources, including DNA profiles and fingerprints.… Continue Reading
The following is a guest post from associate Nicole Matraiin Squire Patton Boggs’ Perth, Australia office. The Australian Attorney General’s Department is looking to change some of the key points to Australia’s laws on bribery of a Commonwealth and foreign public official (found in Division 141 and 70 of the Criminal Code Act 1995 (Cth)). According … Continue Reading
