Following on from our posts in 2012 (UK Ministry of Justice Launches Consultation on Deferred Prosecution Agreements and UK Government unveils deferred prosecution agreements as a new enforcement tool), we can now report that on 25 April 2013, the Crime and Courts Act 2013 (the “Act”) was passed. The Act introduces deferred prosecution agreements into UK law for the first time.

The Act will allow the UK Serious Fraud Office and the Crown Prosecution Service to enter into deferred prosecution agreements to deal with economic crimes such as bribery, fraud and money laundering.

The Act is not expected to come into force before February 2014, and in the meantime, a Code for Prosecutors containing further guidance from the Serious Fraud Office and the Director of Public Prosecutions will be published.

We will keep you posted on any future developments.