In Latin American arbitration wins

Administrative Managing Partner Marta Colomar-Garcia explains that in Latin America the possibility to use international mediation is key to do business.
In order to invest in Latin America, legal security is a key factor. The stability of the legal framework and justice efficiency when the norms must be enforced can accelerate or slow down the entrance of foreign capital.
Although legal security has improved in Latin America, all countries are not equal and in some cases progress is not sufficient. This is why alternative dispute resolution processes such as international arbitration have taken the leading role.

Trump’s Changes to U.S.-Cuba Deal Headed Our Way Soon

On June 16, President Donald Trump announced a cancelation to the post-Dec. 14, 2014 U.S. policy toward Cuba. While speaking before prominent members of the Cuban-American community in Miami, President Trump stated that he is “canceling the last administration’s completely one-sided deal with Cuba,” effective immediately. However, the announced changes do not take effect until the new regulations are officially issued by the different U.S. government departments. The Department of Treasury, along with its Office of Foreign Assets Control (OFAC), as well as the Department of Commerce, will be among the departments that will each have 30 days to review the changes the president has provided. After the 30-day review, the departments will begin drafting the new regulations. It may be months before the new regulations are officially issued, at which moment everything becomes official and binding.

Four Tips for Ensuring Effective Compliance and Risk Management Programs

By Richard N. Wiedis Companies with strict internal controls, even when operating within a highly regulated industry, are not immune to dramatic and costly compliance or risk management failures. All too often, despite having the foundations of a successful compliance program in place, companies experience dramatic failures resulting in criminal penalties, civil fines, job losses,…

Peru’s Fight Against Financial Crimes

Is Peru Winning the Fight Against Financial Crimes? Q: Peru’s government announced in November that it was strengthening the country’s Financial Intelligence Unit in an effort to crack down on money laundering and crimes related to terrorism. The agency will now be able to request that judges lift bank and tax secrecy provisions when necessary…

Mexico Moves Forward With New Anti-Corruption Act

Corruption is a significant risk for companies doing business in Mexico: bribery is widespread, and business registration processes, including the obtainment of construction permits and licences, are negatively influenced by corruption. But the Mexican government is not standing still. Mexico’s new Anti-Corruption Act strengthens oversight of public officials and designates a Special Prosecutor to tackle…

Sustainable development could boost Colombia’s financial system

Though it has navigated the global slump in oil prices better than some of its neighbors, Colombia’s economy has still not been immune, as shown by indicators including slowing business volumes. Latin America Financial Services Adviser asks: Will Colombian Banks Thrive in the Months Ahead? How are Colombia’s current economic conditions affecting the country’s financial services…

Are Caribbean banks ready for new FINCEN customer due diligence requirements for financial institutions?

Caribbean banks address fears of severed ties with U.S. banks due to fines and higher costs in a new set U.S. compliance regulations issued by the U.S. Department of the Treasury Financial Crimes Enforcement Network. With the release of the Panama Papers, many investors, banks, financial institutions, and foreign countries are concerned that the traditional shell company may…