Investigations & Dawn Raids

Recent Articles

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  21/06/2024

  Poland

  Poland adopts new whistleblower protection law

  Poland’s parliament recently passed the Whistleblower Protection Act, implementing EU Directive 2019/1937 concerning the protection of whistleblowers. The law implements the key provisions of the Directive such as the obligation of a the employers to implement an internal whistleblowing system and to provide feedback and protection to the whistleblowers. The Polish law also contains local differences, which companies should be aware of.Who does the new law apply to?The law applies to companies from financial sector, anti-money laundering (AML) obliged entities and all other companies employing...

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  31/05/2024

  Europe

  Violation of EU competition law: Commission fines Mondelez EUR 337.5m for cross-border trade restrictions

  On 23 May 2024, the European Commission imposed an alarmingly high fine of EUR 337.5 million on the US company Mondelez, one of the world's largest producers of chocolate and biscuit products. The accusations: cross-border trade restrictions between member states of the EU by engaging in anticompetitive agreements or concerted practices and by abusing its dominant position regarding chocolate biscuit products.The European Commission issued a statement with this decision that it will protect the free movement of goods in the EU single market. With this decision, the Commission sent a clear signal...

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  27/05/2024

  Europe

  Aven v Council (T-301/22) and Fridman v Council (T-304/22)

  IntroductionThe EU and many other countries impose financial sanctions on individuals. These people, who are often wealthy businessmen with ties to particular governments, are “designated” under the relevant sanctions regime. The consequences of such designation are usually dire and, usually, any challenge to such a designation will be extremely difficult.However legal challenges are possible in the EU and other jurisdictions, and sometimes succeed. A recent example is the case of Mikhail Fridman and Petr Aven, who have persuaded a lower court of the EU to overturn their designation...

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  16/05/2024

  United Kingdom

  Bet365 reaches regulatory settlement with the Gambling Commission

  On 4 April 2024, the Gambling Commission (the “Commission”) announced that it had reached a regulatory settlement with Bet365. The settlement comprised a payment in lieu of a financial penalty totalling £582,120 across two licensees.Following a compliance assessment in March 2022, the Commission commenced a regulatory review under s.116 of the Gambling Act 2005. The licence review found Bet365 in breach of the Licence Conditions and Codes of Practice between May 2021 and September 2022 in respect of social responsibility and anti-money laundering (“AML”) obligations...

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  21/09/2023

  Poland

  Poland to allow shareholders to request prosecution for crime of mismanagement

  PL

  As of 1 October 2023, Polish shareholders in a both joint stock and a limited liability company will be able to file a request for prosecution for a crime of mismanagement not resulting in an actual loss (Article 296 § 1a of the Polish Criminal Code). This provision criminalises actions that cause an imminent threat of financial loss exceeding PLN 200,000 by persons responsible for managing the financial matters or business activity of another person or entity (i.e. primarily by members of the management board).Who will be able to file a request for prosecution?Until now, a request from...

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  04/08/2023

  United Kingdom

  Star Sports fined for AML and social responsibility failures

  Star Racing Limited, trading as Star Sports, (“Star Sports”) has been issued an official warning, a £594,000 financial penalty and had additional conditions attached to its operating licence by the UK Gambling Commission (the “Commission”) for anti-money laundering and social responsibility failures.Following a review of Star Sports’ operating licence, the Commission found that, between March 2020 and May 2021, the licensee was in breach of AML and social responsibility obligations under the Licence Conditions and Codes of Practice (the “LCCP”).AMLLicence...

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