Like waiting for a bus: nothing happens and then two significant Bribery Act 2010 related developments come along at once!!!!! It’s over four years since the Bribery Act 2010 (the Act) came into force, introducing a new strict liability corporate offence of failing to prevent associated persons from bribing (section 7). The lack of corporate […]

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 […]

At the Cambridge Symposium on Economic Crime at Jesus College Tuesday, David Green QC, the Director of the Serious Fraud Office, described what he called a cross section of the SFO’s current caseload. It was Green’s third presentation to the Cambridge Symposium as director of the SFO. The cases were said to represent “the top […]

David Green CB QC, Director, Serious Fraud Office (SFO), has given a speech at the Cambridge Symposium on Economic Crime. In his speech Mr Green made the following key comments: 1. the SFO’s current caseload includes investigating specific allegations in relation to o LIBOR, FX, o allegations of bribery and fraud involving major UK corporates […]

The Joint Head of Bribery and Corruption at the SFO, Ben Morgan, delivered a speech to the UK Aerospace and Defence Industry seminar on deferred prosecution agreements (DPAs). In his speech Mr Morgan discusses why a DPA is worth considering as a potential resolution to and issue and what needs to be done, as far […]

The Serious Fraud Office (SFO) has confirmed that it has opened a formal investigation into Sweett Group in relation to its activities in the United Arab Emirates and elsewhere. The investigation reportedly relates to allegations that a Dubai-based former employee of Sweett Group asked a firm of architects to bribe officials to secure a US$ 100m contract. […]

12 Feb 2014 – two men were arrested in connection with investigations which are believed to concern Rolls-Royce’s dealings in Asia. The arrests come following various warranted searches across London implemented by the Serious Fraud Office (SFO). Both the SFO and Rolls-Royce have declined to comment on the arrests, although a source stated that the […]

Now that the initial work on the identification of AIFMs has been undertaken, fund managers may wish to consider amendments to fund documents to incorporate the following features: Management agreements and administration agreements appointing managers of managed entities should clearly identify the AIFM and should contain a detailed list of services, in particular relating to […]