The UK Serious Fraud Office published a chapter Friday from its internal Operational Handbook that offers “comprehensive guidance” on how it approaches Deferred Prosecution Agreements (DPAs), and how it “engages with companies where a DPA is a prospective outcome.”… Continue Reading
The U.S. Treasury Department’s Office of Foreign Assets Control used a settlement agreement Thursday to set out management’s role in creating and running an effective sanctions compliance program.… Continue Reading
On December 20 a jury in the UK acquitted two former employees of Guralp Systems Ltd, including its founder and former director, of conspiracy to make corrupt payments. This followed an acquittal two days earlier of the former finance chief of the company.… Continue Reading
The chairman of the U.S. Securities and Exchange Commission, Jay Clayton, chose a speech in September to the Economic Club of New York to argue that when it comes to enforcement of anti-corruption laws, the United States is “acting largely alone.”… Continue Reading
It is five years since Deferred Prosecution Agreements (DPAs) came into force in the UK. In that time they have become such an established part of the corporate crime landscape that any UK-based company which is under investigation for fraud or bribery by the SFO will now give serious thought to pursuing a DPA.… Continue Reading
The recent acquittal of three former members of Tesco senior management raises important questions for companies about the UK DPA process.
The SFO has also just decided to terminate the investigation into the Rolls-Royce managers after the company had entered into a DPA and accepted fines of $800 million based on the guilt of those same individuals.… Continue Reading
Canada has joined a global trend in white collar and corporate crime law enforcement with the introduction of a Deferred Prosecution Agreement (DPA) regime.
In September 2017, the Government of Canada launched a public consultation to seek input on a possible Canadian DPA regime.… Continue Reading
A UK High Court ruled on April 19 that if it had jurisdiction to do so, it would have found unlawful the SFO’s failure to require full witness accounts from a company subject to a Deferred Prosecution Agreement in order to ensure a fair trial for individuals.… Continue Reading
The Geneva-based private banking unit of HSBC entered into France’s first deferred prosecution agreement Tuesday under the country’s new anti-corruption regime.
HSBC helped French clients evade local taxes and launder money, the DPA said.… Continue Reading
In a landmark ruling, the High Court in London has said that interview notes — made by a company’s external law firm as part of internal investigations into allegations of corruption in Kazakhstan and Africa — are not protected by legal professional privilege.… Continue Reading
Driven by the complexity and international dimension of investigations, countries increasingly resort to settlements, rather than traditional justice, to solve foreign bribery allegations.
In 2014, the OECD reported that 69 percent of the cases successfully concluded by member countries since the adoption of the Anti-bribery Convention were resolved through a settlement.… Continue Reading