Download a free sanctions policy template

Following Russia’s invasion of Ukraine in February 2022, the US, UK and EU have imposed an unprecedented level of financial sanctions against Russia. The new sanctions block dealings with many Russian banks and restrict many types of business interactions.  Now, more than ever, it is important for businesses to keep track of sanctions and ensure their sanctions policy is up to date.

VinciWorks has created a free sanctions policy template that can easily be edited to suit your organisation, industry and staff, as well as remain relevant with all the current sanctions in place.

You can download the sanctions policy template for free by clicking on the button below.

Download sanctions policy template

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Diversity at VinciWorks

Diversity at VinciWorks

Celebrating who we are

Diversity, equality and inclusion are deeply held values at VinciWorks. Those values drive us to create products that help organisations promote ethical and inclusive workplace culture. They also instruct our corporate mission to create a safer, fairer and more honest world.

Our work to provide compliance expertise and promote best practice in the area of ESG often involves the seemingly tricky task of tracking diversity data. Finding out who works in the organisation is the first step to increasing talent and representation. A diverse, representative workforce is not merely about looking the part, it helps the organisation thrive. 

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Compliance 101 podcast, episode 2: How is bribery & corruption being tackled?

In our latest Compliance 101 episode, Nick is joined by Head of the Anti-Corruption Division in the Organisation for Economic Cooperation and Development (OECD) Patrick Moulette. Patrick will draw on important anti-corruption and bribery cases and what we can learn from them, as well as the industries most vulnerable to bribery and corruption.

What is the OECD?

The OECD has been around in one form or another since 1948 as an intergovernmental organisation focused on trade and democracy. In 1997, the OECD put together a convention on combating bribery of foreign public officials in international business transactions. 

Before the OECD Anti-Bribery Convention was signed in 1997, there was no effective multinational framework for the prevention and prosecution of bribery.

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How to conduct an ESG gap analysis

How to conduct an ESG gap analysis

As companies look to develop and implement their ESG programmes, there are a number of issues that commonly come up. As we deliver our webinars and guides on ESG, VinciWorks receives many questions about the subject. Many are addressed in articles on our blog. 

In this post, we will explore how to do an ESG gap analysis. An ESG gap analysis from VinciWorks looks at an organisation’s achievements in ESG, as well as suggesting potential initiatives and metrics to track those.

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Get your staff on board with ESG: Free ESG resource page

Has your organisation set any ESG-related goals such as net zero carbon emissions? Are you building an ESG programme around a reporting framework? Whether your programme is already under way or you don’t know where to start, our ESG resource page contains the guides, policy templates, on-demand webinars and blogs to help any organisation in any industry.

Our most popular resources include:

• A series of guides on the different reporting frameworks

• Introductory guide to ESG

• ESG policy template

• On-demand webinar on implementing an ESG programme

• Blog on mapping regulatory requirements

Click here to view the ESG resource page and instantly access the rich collection of resources.

VinciWorks launches Compliance 101 podcast

We have just released the first episode of our new podcast, Compliance 101, hosted by our Director of Learning and Content Nick Henderson. 

Compliance is a big word. From bribery to money laundering, data protection to diversity, there’s no end to the number of topics to discuss, and what can seem like an overwhelming amount of information out there.

VinciWorks has always been about keeping compliance simple, and we’re going to do the same with this podcast. Because we have been providing compliance training to the world’s leading law firms based out of London, we are well versed in UK regulations. But this podcast is going to take a global view of compliance. We will bring in international viewpoints, discuss developments in key jurisdictions like the EU, the US and UK, and aim to provide perspectives beyond one jurisdiction or one industry.

In our first episode, Nick will be speaking to Director of Best Practice Gary Yantin to delve into what is considered bribery and share some insight on the warning signs and red flags to look out for. Nick and Gary will also consider the need to go beyond tick-box compliance when it comes to bribery.

Listen to Episode 1: What is bribery and corruption?

You can listen to the first episode here. Don’t forget to follow us on Spotify, Stitcher, Apple Podcasts and other popular podcast providers to get updated on future episodes.

What ESG issues should be included in your risk register?

What ESG issues should be included in your risk register?

As the world gets more and more interconnected, corporate responsibility and sustainability are more important than ever for a company’s success. 

Whereas in previous decades, a company’s value was mainly linked to physical assets like property and equipment, now it is intangible assets like branding, relationships, and ideas that define a business. 

The growing trend toward ESG measurements is, in part, a response to that change. Attractive businesses must now be more sensitive than ever to how they are perceived as members of a larger corporate environment. 

More and more companies understand the necessity to publish ESG reports detailing their performance on environmental, social and governance metrics. This comes from an awareness that steps like reducing their carbon footprint; improving diversity and gender equality in the workforce, and maintaining an ethical value chain for suppliers and customers display a level of social responsibility that is demanded by customers, partners and investors. 

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Regulatory Agenda for March 2022

Regulatory Agenda for March 2022

To help businesses keep track of updates in UK legislation and policies, VinciWorks regularly publishes a regulatory update. Our regulatory agenda for March 2022 covers a range of new sanctions and money laundering rules as a result of the Russian invasion of Ukraine, new ESG reporting requirements, DAC6 / MDR consultations, employment law developments and updates to UK GDPR via SCCs.

What’s in the Regulatory Agenda?

  • What’s new this month?
  • COVID-19 guidance update
  • EU developments affecting policy and compliance
  • Recent Acts of Parliament affecting policy and compliance
  • Bills before Parliament
  • Secondary legislation
  • Open and closed consultations
  • Regulations and initiatives on the horizon

Download Regulatory Agenda

Ukraine invasion causes UK government to ramp up sanctions and money laundering regulations

Ukraine invasion causes UK government to ramp up sanctions and money laundering regulations

Actions against Russia will impact UK businesses and compliance

As a result of the Russian invasion of Ukraine, the UK government has brought forward the Economic Crime (Transparency and Enforcement) Bill which includes a new register of foreign owners of UK property. Entities who do not declare their beneficial owner will face restrictions in selling their property or face prison. Unexplained Wealth Orders (UWOs) are also being strengthened, with those who hold property in the UK in a trust will be considered an asset’s holder. Law enforcement will have more time to implement UWOs and be protected from litigation costs if the order is successfully challenged. 

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Ukraine sanctions update

Ukraine sanctions update

What businesses need to know about new sanctions on Ukraine and Russia

Following the invasion of Ukraine by Russia, a series of new sanctions have been announced by the US, UK and EU, alongside other nations. This is a rapidly evolving situation with facts changing on an hourly basis. Sanctions compliance is vital for any business. From client due diligence to payment processing, sanctioned individuals will be working harder to move their money out of sanctioned jurisdictions. Businesses must be alert to this.

Payoneer fined for sanctions violation

In July 2021, Payoneer was fined $1.4 million by the US sanctions authority, the Office of Foreign Assets Control (OFAC) for over 2,200 violations of multiple sanctions regimes.

In the settlement agreed to by Payoneer, they admitted to processing payments for parties located in Crimea, Iran, Sudan and Syria, all countries subject to US sanctions. They also processed 19 payments on behalf of individuals sanctioned by the US.

This meant sanctioned individuals were able to engage in over $800,000 worth of transactions. The fine comes at a tricky time for Payoneer, who began trading on the Nasdaq exchange the month before, with a valuation of $3.3 billion.

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