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Singapore: High Court sets out new sentencing framework for public sector corruption involving agents

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In a recent appeal before the Honourable Chief Justice Sundaresh Menon involving two individuals who had participated in public sector corruption (Public Prosecutor v Wong Chee Meng and another appeal [2020] SGHC 144), the High Court set out a new sentencing framework for corrupt transactions which take place in relation to contracts with the Government or public bodies under s 6 read with s 7 of the Prevention of Corruption Act (Cap 241) (the PCA).

United States: Supreme Court confirms SEC’s right to obtain disgorgement but…it’s complicated

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While the SEC may seek disgorgement, it may not, under the guise of disgorgement, seek a remedy beyond traditional equitable principlesIn a much anticipated ruling, the United States Supreme Court held today in Liu v. Securities and Exchange Commission that a disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for “the benefit of investors” is “equitable relief” permissible under 15 U. S. C. §78u(d)(5).[1] In reaching its decision, the Court analyzed categories of relief “typically available in equity,” concluding that “equity practice [has] long authorized courts to strip wrongdoers of their ill-gotten gains.”[2]  However, in vacating the decision of the Ninth Circuit Court of Appeals and remanding for further proceedings, the Court left open the questions of whether disgorgement awards not paid to victims can be consistent with the statutory requirement that such a remedy be imposed “for the benefit of investors,” and whether concepts of equity contemplate any circumstance under which a joint-and-several award of disgorgement would be appropriate.

United Kingdom: COVID-19 – Dishonest assistance and fraudulent trading: Bilta (UK) Limited (in liquidation)...

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This article relates to a recent High Court decision regarding dishonest assistance, fraudulent trading (pursuant to s.213 of the Insolvency Act) and vicarious liability and will be particularly relevant to brokers, banks, traders and other intermediaries which process payments and other transactions.  The Disputes Resolution team shed light on the circumstances in which those entities and individuals may be found by the Courts to have acted dishonestly by failing to seek further information where they have suspicions of potential wrongdoing. This will also be useful reading in preparation for a post-Covid-19 world, when the repercussions of actions that took place before and during the pandemic will be better understood and will no doubt be thrust under a spotlight.

Webinar Series (May 2020 to March 2021): The Baker McKenzie Investigations Series – Your...

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Investigation work is peppered with legal and practical issues for which often there is not one right answer. The circle of professionals in charge...

Asia Pacific: Coronavirus (COVID-19) – Risk checklist for companies operating in the healthcare and...

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In brief As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, the challenges for companies operating in the healthcare and life sciences...

United Kingdom: COVID-19: Implications for the Future of Dispute Resolution

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As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, businesses are facing significant levels of instability and uncertainty caused by weakened...

Australian Securities Exchange Provides Helpful Guidance for Continuous Disclosure in the COVID-19 Era

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ASX has issued some helpful and pragmatic guidance in relation to continuous disclosure obligations in the COVID-19 environment. Key aspects of the guidance are:...

US: COVID-19 and the Trade, Anti-Corruption and Human Rights Compliance Risks it Poses to...

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The Novel Coronavirus outbreak continues to have a substantial impact across the globe. As of the writing of this post, more than 87,000 cases of the...

Hong Kong Court Confirms SFC’s Investigation Powers Over Digital Devices in Search Operations

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In five recent judicial review applications brought against the Securities and Futures Commission (SFC) and the Magistrate (HCAL 2132, 2133, 2134, 2136 and 2137/2018),...

Back to the Future: Assessing Industrials’ Readiness for Change

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Will the lure of the past jeopardize the future of Industrials?Industrials are braced for yet another revolution. At the beginning of a new decade,...
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