On 30 November, an English court approved the first Deferred Prosecution Agreement (DPA). This DPA also coincided with the first time that the Serious Fraud Office had charged the “failure to prevent bribery” offence under section 7 of the Bribery Act. The DPA was agreed between the SFO and Standard Bank in relation to allegations … Continue Reading
In a recent speech, David Green, the Director of the Serious Fraud Office (SFO) stated that the agency would adopt a “sweep” approach, focusing on specific industries, to identify businesses which might be breaking the law. The SFO has made it clear that its anti-bribery investigations are focused on the construction and energy industries. Most … Continue Reading
Charges have been brought against four individuals in connection with a £23 million fraud at Sustainable AgroEnergy, whose parent company, Sustainable Growth Group, is in administration. The SFO has been looking at the promotion of bio fuel investment products to UK investors between April 2011 and February 2012. Sustainable AgroEnergy, a £40 million investment scheme, … Continue Reading
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 … Continue Reading
On 23 October 2012, the UK Ministry of Justice published the Government’s response to the consultation on deferred prosecution agreements (“DPAs”). This confirmed that DPAs will be introduced in England and Wales as an alternative to prosecution of companies for fraud, bribery and money laundering offences. The Government intends to amend the Crime and Courts … Continue Reading
This post was written by Rosanne M. Kay. I recently spoke at the 6th International Pharmaceutical Compliance Congress in Budapest. Jane de Lozey, Head of Fraud at the Serious Fraud Office (SFO), and Raymond Emson, Head of Policy at the SFO, were also scheduled to speak but unfortunately could not make it at the last … Continue Reading
This post was also written by Shariq Gilani. David Green QC has this month taken over the Directorship of the Serious Fraud Office (“SFO”) from Richard Alderman. Prior to joining the SFO, Mr Green had practised as a barrister specialising in serious crime for more than 25 years. Between 2004 and 2011, he served as … Continue Reading
This post was written by Simon Hart. The UK’s Serious Fraud Office (SFO) has stepped up its attempts to persuade employees and professional advisors to blow the whistle on fraudulent or corrupt practices within the organisations they serve. The SFO has announced a new “SFO Confidential” service that allows whistleblowers to report concerns either by … Continue Reading
This post was also written by Simon Hart. The Director of the Serious Fraud Office (“SFO”) has recently articulated a robust interpretation of the SFO’s jurisdiction under the UK’s Bribery Act 2010, which comes into force on 1 July 2011. In doing so, the Director has challenged the understanding of many companies and their advisors. … Continue Reading
The Director of the Serious Fraud Office (SFO), Richard Alderman, gave a speech yesterday about the Bribery Act which touched on many practical issues and further guidance to be issued. The speech covered: Prosecution guidance – this should be issued by Mr Alderman and the UK Director of Public Prosecutions at the same time as … Continue Reading
This post was written by George Brown, Matt Stone, Simon Hart, Sarah Wolff, and Jim Sanders. The Bribery Act 2010 (the “Act”) which recently was passed by Parliament has far-reaching implications for any business which is either registered in the UK or which has any part of its operation in the UK. The breadth and importance … Continue Reading
