Photo of David Harris (UK)

David Harris (UK)

With a record number of enforcement cases resolved in recent years, the Financial Reporting Council (FRC) is continuing to show its determination to hold firms and individuals to account for serious accounting and audit failures. In our latest briefing, we set out five key themes for relevant firms and individuals to be aware

The UK’s Industry and Economic Security Minister, Nusrat Ghani, today announced the creation of a new civil enforcement unit, the Office of Trade Sanctions Implementation (OTSI). OTSI is expected to become operational early next year, and will focus on the civil enforcement of trade sanctions, including in relation to the circumvention or evasion

  1. a focus from organisations on fraud, in particular

Introduction

Following the unprecedented levels of sanctions activity in response to Russia’s invasion of Ukraine, which has resulted in companies dealing with the most significant and complex sanctions regimes across multiple jurisdictions, authorities in the US, UK and EU are now turning their attention to enforcement of those sanctions.

Sanctions authorities have indicated that they