In the second episode of the Global Investigations Podcast Series, David Harris (Partner, Investigations, Enforcement and Compliance team, London) is joined by Mayling Blanco (Partner, Government Investigations and White Collar Defence team, New York) and Violetta Bourt (Counsel, Antitrust and Competition team, Brussels) to discuss the increasing prevalence and importance of dawn raids across the UK, EU and US; the authorities and policies driving this trend; and the steps organisations can take to prepare.
Dawn raids are becoming a common tool for authorities to gather information for use in regulatory and criminal proceedings. The team discusses current trends and legal developments in the second episode of the new podcast series.
Key takeaways from the discussion are:
- Dawn raids are on the rise globally: the UK, EU and US have all seen an increase in dawn raid activity in recent years. In the UK, the Financial Conduct Authority and Serious Fraud Office in particular are increasingly using dawn raids as an enforcement tool. In the EU, legislative developments have broadened the remit of the European Commission in carrying out raids. In the US, authorities are currently focussed on several key sectors, with dawn raids providing a key investigatory mechanism alongside other civil processes.
- Dawn raids are becoming more complex for companies to navigate, with a rise in hybrid raids and more varied emerging data sources: a number of factors have increased the complexity of carrying out dawn raids in recent years. The emerging concept of 'hybrid' raids, and the COVID-19 pandemic and subsequent increase in remote working, has created both a challenge and opportunity for authorities across the US, EU and UK. Emerging data sources and an increasingly large and varied data universe creates an additional challenge for authorities – and organisations – to consider.
Companies therefore need to revisit their current policies and procedures to ensure they are prepared. We discuss some useful ways in which companies can start to think about this and some practical tips for getting started.
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