“If they don’t do it, you’d be left with no one to bring in punitive enforcement action other than the Department of Justice. It highlights the need for prudential regulators to figure this out.” Over the past few weeks, SEC has been filing charges against individuals in the crypto industry over insider trading and fraud. […]
In the Press
Charlie Steele comments on BDO USA’s decision to press clients on their connections to Russia
“The BDO provision certainly goes beyond what the U.S. currently requires […] taking a very conservative risk conscious approach” With major auditing firms in the US worried about running afoul of sanctions, firms like BDO USA are pressing clients on their connections to Russia, pushing for disclosure of investors’ nationalities. Partner Charlie Steele speaks to […]
Tarek Kassem joins FRA as Senior Advisor
We are delighted to announce that Tarek Kassem has joined FRA as Senior Advisor to support the expansion of our global presence, particularly in the Middle East. With his wealth of experience in investment banking, capital markets, and private equity, Tarek is a leading and prominent advisor to global corporations and governments facing complex challenges […]
SEC Doubles Down on Greenwashing
As featured in Sustainable Investment The Securities and Exchange Commission (SEC) recently penalised BNY Mellon Investment Adviser, Inc. (BNY Mellon) for misstatements and omissions about Environmental, Social, and Governance (ESG) considerations in making investment decisions for certain mutual funds that it managed. As a result, BNY Mellon agreed to pay a $1.5 million penalty to […]
Sanctions Screening: Challenges and Control Considerations
The current sanctions environment is one that is constantly changing across multiple international regimes, particularly in light of the macro-economic and political backdrop of Russia and Belarus. At a time of growing complexity, it’s important for practitioners and businesses and their advisers to keep up to speed with the latest regulations around sanctions compliance, across […]