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