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In recent weeks, rumours have started to circulate that President Biden's administration is set to depart from the US government's current approach to the use of sanctions. While the administration's review of US sanctions policy remains ongoing, details of a new softer approach, which is expected to be formally outlined when the review is published at the end of the summer, were described by a number of current and former administration officials in a series of high-level meetings held in the US Congress.

On 1 July, which marks the 10th anniversary of the UK's Bribery Act coming into force, the Serious Fraud Office ("SFO") secured court approval for a Deferred Prosecution Agreement ("DPA") with Amec Foster Wheeler Energy Limited ("AFWEL"). This latest DPA concludes yet another significant multi-year corruption probe and highlights the importance of continued ABC compliance measures for multinational organisations.

In February 2021 Travers Smith and techUK led a webinar which, amongst other issues, examined how the growing need to provide more transparency and possibly to formally report on the use of AI and algorithms could lead to the development of an effective audit and assurance framework. 

On 26 April 2021, the Global Anti-Corruption Sanctions Regulations 2021 ("ACSR") came into force in the UK – the second targeted sanctions regime the UK has introduced in under a year. This follows the July 2020 Global Human Rights Sanctions Regulations, which we reported on here.

Earlier this year, we launched a series of webinars on the theme of "Sustainability and alternative asset managers: the new normal".

In this short video, Knowledge Counsel Jonathan Rush provides a 3 minute guide to the EU-UK Trade and Cooperation Agreement (TCA).

On 16 March 2021, the UK Government published a delayed integrated review of security, defence, development and foreign policy, setting out in general terms the UK's approach to national security and international policy over the next five years (the "Integrated Review").

The evidence outlined by the UK Government includes allegations of forced sterilisation, extra-judicial detention and forced labour. The proposals are intended to "send a clear message that these violations of human rights are unacceptable, and to safeguard UK businesses and public bodies from any involvement or linkage with them".

Updated 31 March 2021

Updated 26 February 2021

A regular briefing for the alternative asset management industry. 

Disruption to goods supply chains is widely expected after the Brexit transition period ends on 31 December 2020. Even businesses which are well prepared for new border processes could be caught up in delays.

Brexit is likely to have a major impact on goods supply chains, whether or not a trade deal can be reached with the EU. This checklist sets out the key issues that UK exporters need to consider.

Brexit is set to have a major impact on goods supply chains and the trade deal with the EU, though welcome, is unlikely to make a significant difference, except when it comes to tariffs. Our Q&A explains why and sets out what importers and exporters need to do in order to adapt to these changes.

In September, Travers Smith Partner and Head of Risk & Operational Regulatory Doug Bryden featured as a guest speaker on KTN's webinar addressing some of the legal and regulatory issues faced by the robotics and AI community in the UK.

On 16 October 2020, the UK’s Export Control Joint Unit ("ECJU") issued a timely reminder to UK businesses that an Open General Export Licence ("OGEL") will be required where a business is exporting dual-use items, as set out in Annex 1 of EU Regulation 428/2009 (the "Dual-use Regulations"), to any EU member state, and the Channel Islands, from 1 January 2021.

The EU passed a Regulation on Conflict Minerals ("the Regulation") back in 2017 and its requirements will finally begin to apply to importers of covered minerals as of 1 January 2021. Conflict minerals – usually "the 3Ts" (tantalum, tin, and tungsten) and gold ("3TG") are crucial in the components of many consumer electronic products and have applications in aerospace, automotive, medical and other sectors.

Following a consultation undertaken by the US Treasury Department, a new rule will come in to force on 15 October 2020 altering the current mandatory Committee on Foreign Investment in the United States ("CFIUS") filing requirements. The amendment relates specifically to foreign direct investments ("FDI") into US businesses with a 'critical technology' focus.