After Monday, deferred prosecution agreements (DPAs) will be available to the UK Serious Fraud Office (SFO) in its fight of financial crimes, including corruption.
The SFO has stated that, although DPAs will be “a welcome addition to the prosecutor’s toolkit…,” its “preferred option” remains prosecution. … Continue Reading
JPMorgan Chase & Co. will pay more than $2 billion of penalties to pay federal prosecutors and regulators for failing to report suspicious activity involving Bernard Madoff’s Ponzi scheme.
The $2 billion amount is the largest amount a bank has had to pay to resolve anti-money laundering violations.… Continue Reading
The SEC said Tuesday it was entering into a deferred prosecution agreement with a former hedge fund administrator named Scott Herckis who helped the agency end a fraud involving a hedge fund manager stealing investor assets.… Continue Reading
The second objection defendant corporations typically have to FCPA enforcement concerns the thorny problem of solicitation. Sure, some companies pay bribes aggressively and unreservedly. But others feel pressured to do it.… Continue Reading
The U.K. Serious Fraud Office Thursday released the draft Code of Practice for the use of deferred prosecution agreements.
The UK Solicitor General is publishing a Draft Code for Crown Prosecutors Thursday that’s expected to contain further details about deferred prosecution agreements in the UK.
When the legislation comes into effect — most probably in early 2014 — it’s likely to increase the likelihood of global settlements in multi-jurisdictional cases involving fraud, corruption, or money laundering.… Continue Reading
Some members of Congress are evidently concerned that corporate defendants are getting off the hook. Too many deferred- and non-prosecution agreements, and not enough criminal indictments.
So acting assistant AG Mythili Raman, who’s now heading the DOJ’s criminal division, testified Wednesday before the U.S.… Continue Reading
Ralph Lauren Corporation will pay $1.6 million in combined penalties to the DOJ and SEC in exchange for unprecedented dual non-prosecution agreements after admitting its Argentina subsidiary paid bribes to government and customs officials.… Continue Reading
The DOJ agreed last week to end Pride International’s deferred prosecution agreement a year early to reward the company for its enhanced compliance efforts.
When Edward Garnier Q.C M.P was unceremoniously and, in my view, wrongly fired by David Cameron in September, Dominic Grieve, the Attorney General said of him:
“I also wish to pay tribute to the outgoing Solicitor General, Edward Garnier QC MP, whose stalwart support and wise counsel have been invaluable to me over the past two years.… Continue Reading