We reported back in 2012 that the UK’s Serious Fraud Office (“SFO”) had confirmed its commitment to enforcing the UK Bribery Act 2010 (“Bribery Act”) and that its new powers to prosecute bribery offences would remain an important tool in actions overseas. So where are we now? In late 2013, the SFO charged printing company … Continue Reading
Deferred Prosecution Agreements (“DPAs”), an established part of the legal landscape in the US, have today, 24 February 2014, become available to prosecutors in the UK, thanks to Schedule 17 of the Crime and Courts Act 2013. As we reported previously, DPAs allow commercial organisations (not individuals) to settle allegations of criminal economic activity (for … Continue Reading
Deferred Prosecution Agreements (“DPAs”), an established part of the legal landscape in the US, are inching ever closer to their long-awaited introduction in England and Wales. After receiving royal assent via the Crime and Courts Act 2013 earlier this year, a draft Code of Practice (“Draft Code”) explaining how the DPA process will operate is … Continue Reading
In a press release on its website, the Serious Fraud Office (“SFO”) has announced that it has finally brought its first charges under the Bribery Act 2010. The bribery charges against the three individuals are connected to a wider investigation into a suspected £23 million fraud at Sustainable AgroEnergy plc. The SFO’s investigation is focussed … Continue Reading
Many thanks to Martin Mladek and Ivan Chalupa of Squire Sanders’ Prague office for preparing this article. British and US Antibribery Laws Affect Czech Companies Both at Home and Abroad. It could be argued that the Czech Republic is still awaiting its first considerable bribery case. As a result, the battle against corruption in the … Continue Reading
Special thanks to Squire Patton Boggs Manchester office and particularly trainee solicitor Philip Bonner for preparing the article below. If recent press reports are to be believed, in particular those emanating from the Financial Times (“FT”), the British Government is considering whether to relax the current ban on facilitation payments for small and medium-sized enterprises … Continue Reading
The Scottish Civil Recovery Unit is to recover £5.6 million under Proceeds of Crime legislation after a Scottish drilling company, Abbot Group Limited (“Abbot”), admitted it had benefited from corrupt payments made in connection with a contract entered into by one of its overseas subsidiaries and an overseas oil and gas company. The contract was … Continue Reading
On 23 October 2012, the Ministry of Justice (MoJ) published its response to the consultation paper on DPAs, and confirmed that it will legislate to introduce DPAs in England and Wales. The Government intends to include an amendment to the Crime and Courts Bill 2012-2013 to introduce DPAs in England and Wales, and it is … Continue Reading
Rolls-Royce, the world’s second largest aircraft engine maker, made a public announcement on the 6 December 2012 that it has provided information to the Serious Fraud Office (SFO) in relation to bribery and corruption activities that have taken place in Indonesia, China and other undisclosed overseas markets involving its intermediaries. In a statement released through … Continue Reading
Transparency International has recently published its 8th annual progress report on compliance with the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, adopted in 1997, which requires each signatory country to make foreign bribery a crime. In relation to enforcement, of the 37 signatory countries included in the report, (which … Continue Reading
On the 9 October 2012, the SFO reviewed its policies on facilitation payments, business expenditure (hospitality) and corporate self-reporting. The purpose is to: Restate the SFO’s primary role as an investigator and prosecutor of serious or complex fraud, including corruption; Ensure there is consistency with other UK prosecuting bodies; and Meet certain OECD recommendations. Territorial … Continue Reading
As part of the UK government’s remodelling of the British economy, UK businesses are being encouraged to widen their export base. Given the intransigent economic problems in the Eurozone, traditionally the UK’s biggest export market, there are sound economic reasons for doing so. George Osborne, the Chancellor of the Exchequer, has championed the role of … Continue Reading
To protect themselves from breaking the UK Bribery Act and Proceeds of Crime legislation, those involved with corporate transactions (including mergers, acquisitions or investments) need to ensure that transactions do not involve risks of bribery and corruption. The UK’s Serious Fraud Office (SFO), in January 2012, said: “Shareholders and investors in companies are obliged to … Continue Reading
Back in May, we reported that the new Director of the SFO had offered support to the US-style deferred prosecution agreements (“DPAs”). DPAs aim to make out-of-court settlements easier by allowing defendant companies to avoid criminal prosecution instead agreeing a series of conditions. These conditions usually including paying a civil penalty, handing back the profits … Continue Reading
Like any other major sporting event, the Olympic Games attracts a large number of corporate sponsors. This summer’s Games in London are no different, with 11 long-term sponsors of the Olympics and a further 40 solely sponsoring the London 2012 Games. But with the London Games looming ever closer into view, sponsors and businesses alike … Continue Reading
David Green took charge as the new Director of the Serious Fraud Office (SFO) on 23 April 2012. Since taking the reins, Mr Green has confirmed that the SFO’s new powers to prosecute bribery offences would remain an important tool in actions overseas. He has however also confirmed that only the largest cases, that prevented … Continue Reading
On Wednesday, the U.S. Court of Appeals for the Second Circuit upheld Frederic Bourke’s bribery conviction. This decision is the culmination of investigations and court proceedings that began in 2000. Mr. Bourke, who co-founded handbag maker Dooney & Bourke, was convicted in November 2009 for violations under the FCPA after his business partner Viktor Kozeny … Continue Reading
Back in September 2011, we reported on this blog how the first proceedings under the UK Bribery Act 2010 had been commenced against a Court clerk who had accepted money from various people to help them avoid prosecution for motoring offences. Mr Patel, the Court clerk, was charged with requesting and receiving a bribe intending … Continue Reading
The Bribery Act 2010 came into force on 1 July 2011 and prohibits both private commercial bribery and bribery of foreign public officials. It also introduces a corporate offence of failing to prevent bribery. The Act raises many questions, one of which being: are gifts and corporate hospitality bribes? The Guidance published by the Ministry … Continue Reading
A Court clerk will appear at Southwark Crown Court on 14 October 2011 to face allegations that he accepted a bribe to influence criminal proceedings. This will be the first case brought under the UK Bribery Act 2010, which came into force on 1 July 2011. Munir Yakub Patel, a Court clerk at Redbridge Magistrates’ … Continue Reading
As pointed out by Squire Sanders & Dempsey’s Capital Markets Practice Review for July 2011, “on 1 July 2011, the day the Bribery Act 2010, came into force, Transparency International UK published a consultation on its draft anti-bribery guidance for transactions. The draft guidance aims to provide practical help for companies wishing to undertake anti-bribery … Continue Reading
Last week, one of London’s oldest insurance brokers, Willis Limited (“Willis”), was fined by the UK Financial Services Authority (“FSA”) for failing to counter the risks of bribery and corruption. The £7 million penalty was handed down to Willis in the FSA’s Final Notice (PDF/80.3KB/24 pages) on 21 July 2011. Conduct From 2005 to 2009, … Continue Reading
It has been interesting to see the reactions around the world to the UK’s new Bribery Act 2010 (“Bribery Act”) which came into force earlier this month. Perhaps unsurprisingly, eyes have been on what the US has made of it given its long history in this area and the application of the Foreign Corrupt Practices … Continue Reading
With the UK Bribery Act 2010 taking effect last Friday, we here at the Anticorruption Blog have decided to share a guest post we did for Forbes on the subject back in May of this year, “FCPA-Inspired UK Bribery Act Projected to Hit the Oil and Gas Industry Hardest.” Now that the UK Bribery Act … Continue Reading
