The UK Serious Fraud Office (SFO) has published its Annual Report and Accounts for 2014-15. The Annual Report notes the start of 16 new investigations, which is an increase on the previous year and includes a number of high profile matters including Forex and Tesco.  The Report cites a conviction rate of 78% from prosecutions brought, noting the SFO’s first Bribery Act convictions (the “biofuels” case) in December 2014 and a guilty plea in LIBOR during the course of the year. Our blog post on the “biofuels” case can be found here. The report confirms that resolution by DPA is under active consideration in a number of cases.

In respect of DPAs, there has been considerable press attention in the last few weeks, with reports that negotiations are at an advanced stage with two UK-based privately held companies (such reports being unconfirmed).  It has also been reported that the SFO has invited Barclays to discuss a deal to settle the SFO’s probe into the bank’s dealings with Qatari investors, though this is also unconfirmed by the SFO and Barclays has stated that no offer has been made of a DPA.  Further news is awaited in this regard.