The UK Serious Fraud Office (SFO) has publically announced that it has sent out the first invitation letters offering DPAs to corporations. In this blog we discuss: the definition of a DPA; the new attitude in relation to DPAs and movement towards the first DPA; and co-operation with the SFO– dos and don’ts. Quick Recap: … Continue Reading
Reports suggest that the SFO is currently investigating and prosecuting serious allegations of complex fraud and corruption. The announcement this spring that the SFO had started an investigation into the Bank of England’s actions following the rigging rumours, (as reported by the BBC amongst others) demonstrates its intention to pursue high-profile offenders. David Green, who … Continue Reading
In order to win a contract worth £2.26m for making ballot papers, Smith and Ouzman Ltd, a printing firm based in Sussex, gave £395,074 in corrupt payments to public officials in Kenya and Mauritania. In February 2015, Southwark Crown Court jailed Nicholas Smith, the Sales and Marketing Director, for three years and handed his father, … Continue Reading
The UK Anti-Corruption Plan, published in late 2014, sets the strategic direction for anti-corruption activity in the UK. It contains 66 action points that the UK government will undertake by the end of 2015 in line with four components: Pursue – prosecuting and disrupting people engaged in corruption; Prevent – preventing people from engaging in corruption; … Continue Reading
We have reported previously that the UK’s Serious Fraud Office (SFO) has confirmed its commitment to prosecuting bribery and corruption and that although there is yet to be a “big case” under the UK Bribery Act 2010, the SFO are busy investigating companies it suspects may have broken the law. As we approach the end … Continue Reading
This article was originally published by LexisNexis and is reproduced with permission. GlaxoSmithKline (GSK) has been fined £300 million and five of its employees given suspended prison sentences in China for bribery – but is this the end of the matter? What impact will the verdicts have on other multinational companies conducting business in China? … Continue Reading
In a July 1 speech to the UK Aerospace and Defence Industry Seminar, Ben Morgan of the Serious Fraud Office (SFO) discussed his recommendations for how companies seeking Deferred Prosecution Agreements (DPAs) should interact with the SFO. His resounding message was cooperation on the part of the company, not just “the impression of cooperation” but … Continue Reading
The UK’s Serious Fraud Office (“SFO”) has launched a formal criminal investigation into GlaxoSmithKline (GSK) and its “commercial practices”, understood to mean allegations of foreign bribery. David Green CB QC, Director of the SFO, said back in 2012 that only the largest cases, that prevented UK companies from competing for big contracts on a level … Continue Reading
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
Special thanks to Squire Sanders Manchester office and particularly trainee solicitor Philip Bonner for preparing the article below. Last week’s publication of Transparency International’s 2013 Global Corruption Barometer sparked a number of headlines in the UK press and no doubt also caused a number of raised eyebrows and furrowed brows. Whilst Transparency International surveyed more … 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
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
David Green QC, the newly-installed director of the Serious Fraud Office (“SFO”), has taken action in the High Court against Oxford Publishing Limited (“OPL”), which ordered it to pay £1,895,435, in relation to the unlawful conduct of OPL’s subsidiaries in Tanzania and Kenya. OPL is owned by Oxford University Press (“OUP”), which is the publishing … 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
Thomson Reuters Accelus has recently published a special report (PDF/1.43MB/28 pages) on anti-bribery and corruption and the increased burden on senior management. It is particularly pertinent in light of the Bribery Act 2010 (“Act”) coming into force tomorrow. Among other things, it contains some useful discussion on: sector specific issues and guidance; whether foreign issuers with a London … Continue Reading
