This website uses cookies to ensure you have the best experience. Learn more

Regulatory Risk Essay

913 words - 4 pages

Lecture 8: Legal and Regulatory Risks of International Business
Regulatory Risks
* Potential difficulty in compelling overseas counterparty to fulfil obligation under contract only one risk.
* Even more serious risk: international business activities attracting criminal liability.

Money Laundering
* Few would defend open laundering of domestic crime
* But historically, more relaxed approach taken to property derived from overseas crimes. The attitude has been taken:
* “What happens in X, stays in X”

* Definition of “criminal property” in UK extends to property derived from act committed abroad which would be a crime if it were committed in UK.
* Proceeds of ...view middle of the document...

K. law
* child sex offences (including pornography)
* war crimes
* bribery

‘Long arm’ jurisdiction
* US famous for “long arm” jurisdiction
* Jurisdiction over acts apparently committed abroad
* Example: New York State jurisdiction
* Includes not just those domiciled within state, but also anyone who does business within state
* N.Y.C.P.L.R. §302(a)
* “Doing business within the state” also very widely defined: where a person “purposely avails himself of the privilege of conducting activities in New York”
* Cutco Industries Inc. v Naughton (1986) 806 F.2d 361

Asset forfeiture
* For purposes of this lecture, “asset forfeiture” used to mean any procedure, criminal or civil, by which state removes property linked to crime
* Different terms used in different jurisdictions
* In UK, confiscation may only follow actual conviction before UK court
* Therefore often dealt with as part of money laundering prosecution
* e.g. James Ibori
* But can also be used where overseas crime actually offence under UK law
* e.g. Mabey & Johnson
* But civil recovery in UK may extend to proceeds of crime committed anywhere
* “Unlawful conduct” includes acts which would be offence if committed in UK
* Provided it is also offence in jurisdiction where committed
* Proceeds of Crime Act 2002, s.241(2)
* National Crime Agency v Amir Azam & ors. (No. 2) [2014] EWHC 3753
* In US, asset forfeiture provisions particularly far reaching
* Where forfeitable funds found in account of...

Other Papers Like Regulatory Risk

Recognizing and Minimizing Tort and Regulatory Risk

957 words - 4 pages Recognizing and Minimizing Tort and Regulatory Risk Social responsibility with the responsibility to the environment, are some of the critical points that involve the development and evolution of a company. The acceptation brand by customers and compliance with the standards set by the same is as it were the hallmark of growth from this. You cannot pretend to create a business if not willing to care for those around them, as this involves

Recognizing and Minimizing Tort and Regulatory Risk Plan

628 words - 3 pages Recognizing and Minimizing Tort and Regulatory Risk Plan Environmental Regulation is perhaps the most stringent area of government’s regulation in business. The government imposes great technology investment demands on the industry for regulatory compliance. One single act of irresponsibility can cost businesses greatly or be forced to close (Business Regulation Simulation, 2009). It is important to identify, manage, and correct torts

Credit Risk Analysis in Standard Charter Bank

562 words - 3 pages Best Practice in Risk Management in Banks A Two-day Practical Workshop The Workshop Objective: Bank managers will understand how risks are identified, quantified in terms of their impact on earnings, monitored and managed within banks. Program participants will become better equipped to: • • • Identify and quantify the bank’s vulnerability to credit, market, liquidity, operational, regulatory and reputational risks. Understand and learn best


655 words - 3 pages , reporting, attribution and reporting to desks - PRice Verification and management reporting - Account and monitor forthe firm's secured and unsecured financing activitis Regulatory Controllers - Calcualte and review Firl's capital ratios - Analyze and report regulatory capital - Prepare global regulatory filings -Coordinatre teh capital computations for "GS" Group and regulated legal entities Market Risk Analysis is responsible for

Indian Insurance Industry: Governance, Risk and Compliance 2015

610 words - 3 pages 7th Nov 2015, – Navi Mumbai, India: Market reports on India presents the latest report on “Indian Insurance Industry: Governance, Risk and Compliance 2015”. The report brings together research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. Synopsis 'Governance, Risk and

Regulation Plan for Alumina Inc

706 words - 3 pages Regulation Plan for Alumina Inc. LAW531 21 March 2011 Mr. Majid Safaie Regulation Plan for Alumina Inc. Regulatory risk, by definition, is a risk to which private companies are subject, arising from the possibility of legislation or regulations that will affect business being adopted by a government [ (Unabridged, 2009) ]. To avoid this risk, Alumina Inc, must be proactive in their approach to legal analysis, marketing, public

Risk Management In Banking

9309 words - 38 pages Accord: Banking has changed dramatically since the Basel I document of 1988. Advances in risk management and the increasing complexity of financial activities / instruments (like options, hybrid securities etc.) prompted international supervisors to review the appropriateness of regulatory capital standards under Basel I. To meet this requirement, the Basel I accord was amended and refined, which came out as the Basel II accord. The new proposal


537 words - 3 pages planning Regulatory Objectives Prudential: • Safety and soundness of insurers • Solvency, risk management and corporate governance Market Conduct • Selling practices • Disclosure Regulatory Philosophy • Strong prudential and market conduct regulation and supervision • Benchmarked against best practices • Offsite and on-site supervision • Close collaboration with industry (regular dialogue, joint working groups, consultation papers

Joint Director

2706 words - 11 pages Why Basel III 3. market liquidity risk stress testing and bank capital adequacyWhat is "Basel III": " A global regulatory standard on: 4. 4. Risk management Supervision RegulationAlso a set of reform measures toimprove: 5. 5. Failures of Basel II being:A.Reasons for Basel III Formulation: Inability to strengthen financial stability.B. Insufficient capital reserve.C. Inadequate comprehensive risk management approach.D. Lack of

HCS 451 UOP Course Tutorial / uop help

940 words - 4 pages organization will monitor performance, achieve regulatory and accreditation compliance, and improve overall organizational performance. o Describe ways each organization will communicate with leadership to ensure alignment of organizational goals and gain buy-in from staff to achieve compliance with the standards and requirements issued by regulatory and accreditation bodies. o Determine how compliance with the regulations and development of risk

Wellfleet Bank

1535 words - 7 pages risks, such as legal/regulatory risk, credit risk, business risk and operational risk. The legal/regulatory risk is presented by changing international regulatory rules, the bank is required to set aside and manage capital reserves in response to these new regulatory rules. The global economy is becoming more competitive and Wellfleet bank is growing against a risky environment. Companies may default and that present credit risk to the bank

Related Essays

Tort And Regulatory Risk Essay

742 words - 3 pages Recognizing and Minimizing Tort and Regulatory Risk Managing regulatory risks such as tort liability can be managed through preventative detective and corrective measures. The goal of this management plan is to prevent extensive losses, environmental and commercial, preserve the image of Alumina and abide by the important environmental statutes. The strategies include transferring the risk to another party, reducing the negative effect of the

Regulatory Risk Plan Essay

692 words - 3 pages Recognizing and Minimizing Tort and Regulatory Risk Plan Brittny Iman Gill University of Phoenix Organizational Leardership LAW 531 Mark A. Addington June 10, 2010 Recognizing and Minimizing Tort and Regulatory Risk Plan This week in LAW 531 the class learned about intentional torts and negligence. According to the textbook a “tort” is basically a legal wrongdoing in which one party or a party’s property is damaged and another party

Tort And Regulatory Risk Plan Essay

1679 words - 7 pages There are many risks for a company in the legal realm and it is important for them to minimize their tort and regulatory risks. A company should have a risk plan in place that can help them succeed. This plan can be a continuously changing plan depending on needed improvements on the plan. A risk plan can be developed easily when you look at the Alumina Inc. case as an example. A company such as Alumina can manage their risks through three basic

Recognizing And Minimizing Tort And Regulatory Risk

963 words - 4 pages Week Two - Recognizing and Minimizing Tort and Regulatory Risk It is extremely important to identify and manage possible tort liabilities for a company. There are ways to manage risks effectively but there must be proactive methods taken by the company. Common torts that were covered in our collaboration that could have been prevented or minimized will be addressed below. The textbook describes a company that disposed of