Blog Post
Spectre of privilege issues still looms large in SFO's corporate cooperation guidance
The SFO has published its long-awaited Corporate Co-operation Guidance which sets out what companies should and should not do to assist the SFO in its investigations. The Guidance contains statements in relation to the waiver of privilege which may not be welcome.
Blog Post
Acquittal of Sarclad executives: a further nail in the coffin for DPAs?
Last week three former executives of Sarclad, a company that designs and manufactures technology based products for the metals industry, were acquitted of conspiracy to corrupt and conspiracy to
Blog Post
Another blow for the SFO: Charges against former Barclays CEO Varley dismissed
The Court of Appeal has today dismissed all charges of fraud against Barclays' former CEO John Varley. Mr Varley was the only CEO of a large bank to be prosecuted following the financial crisis and his acquittal, along with that of the corporate Barclays entities, will add to criticism of the SFO that it is unable to hold senior management and corporations to account for wrongdoing. This is yet another high profile failure for the SFO following the collapse of a 2016 trial against brokers accused of helping the convicted trader Tom Hayes rig the Libor rate and the collapse of the trial in December 2018 of Tesco executives.
Blog Post
SFO still sniffy about snitches?
Lisa Osofsky, director of the SFO, appeared to slightly temper her earlier comments regarding offering leniency to informants when speaking at the GIR Live Women in Investigations conference on 12 June 2019.
Blog Post
Proposed register of overseas owners of UK properties contains a number of loopholes
The latest draft legislation aimed at preventing "McMafia-style" money laundering contains a number of loopholes which could undermine its purpose, a Parliamentary Joint Committee has concluded.
Blog Post
Plugging the gaps at Companies House
The Government has finally recognised that it is time for the much-needed, long overdue overhaul of Companies House.The Government Response to the Treasury Committee's Twenty-Eighth Report: Economic
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Government response to Bribery Act scrutiny committee
Yesterday the Government ("HMG") published its response to the final report of the House of Lords Bribery Act Committee "The Bribery Act 2010: post-legislative scrutiny".
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EU strengthens and expands whistleblowing protections
On 16 April 2019 the European Parliament approved new rules to protect whistleblowers who reveal breaches of EU law such as data misuse, tax evasion, money laundering, fraud or corruption in areas including public procurement, financial services, product and transport safety, public health, consumer and data protection.
Blog Post
Is the SFO riding roughshod over the fundamental protection of legal privilege?
Lisa Osofsky, Director of the Serious Fraud Office (SFO), spoke at the Royal United Services Institute in London and spoke about legal professional privilege. This post comments on her remarks particularly in light of the Court of Appeal's judgment in ENRC v SFO.
Blog Post
House of Lords Select Committee determines Bribery Act 2010 is an "exemplary piece of legislation" and encourages the Government to consider extending the "failure to prevent" offence to other economic crimes
Today, Thursday 14 March 2019, the House of Lords Select Committee ("HLSC") published its post-legislative scrutiny report on the Bribery Act 2010 (the "Act") having held 23 oral evidence sessions and reviewed 61 written submissions (including from Fieldfisher). The Act brought in, along with offences of offering or giving and requesting or receiving bribes and the offence of bribing foreign public officials, a strict liability corporate offence of failing to prevent bribery by a company's "associated persons". The only defence available for the failure to prevent offence is to have in place "adequate procedures" designed to prevent associated persons paying bribes on the corporate's behalf.