Summary

Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market.

This edition covers:

1. Documents produced for UK employment court proceedings could be disclosed
2. UK Government changes the list of high risk third countries
3. UK regulators focussed on cryptoasset exposure
4. UK Government to introduce second Economic Crime Bill
5. Further Russian individuals and industries have become the target of UK and US sanctions
6. Lessons Learned: US and UK authorities interested in the use of non-firm approved messaging platforms for business communications

If you have any questions or feedback, please get in touch.

1. Documents produced for UK employment court proceedings could be disclosed

In a recent decision by the UKs Employment Appeals Tribunal involving a whistleblower, the tribunal held that documents produced in the course of proceedings could be handed over to a newspaper, on its request. The case was fairly fact specific but you may want to discuss how this might impact your internal whistleblower policies.

Polly James.

2. UK Government changes the list of high risk third countries

With effect from 29 March 2022, the list of high risk third countries for the purposes of the UK’s anti-money laundering regime changed slightly. You may wish to discuss how this affects your AML/CTF policies.

Naomi Miles.

3. Regulator focus on cryptoasset exposure

On 24 March 2022, the UK’s financial services...

Read Full Story: https://www.jdsupra.com/legalnews/banking-bites-april-2022-4410368/