Should corporates that are tempted to self-report to the SFO look away now?

David Green CB QC, the director of the SFO, has issued revised SFO policies concerning facilitation payments, business expenditure (hospitality) and corporate self-reporting. The new policies were published on 9 October 2012.

The new policies can be summarised as follows:

Facilitation Payments Policy - They are illegal; decisions to prosecute will be based on the Prosecutor's Code (the "Code")[1] and the Joint Guidance (the "Guidance") and the making of these payments may lead to prosecution under the Bribery Act 2010 and/or the Proceeds of Crime Act 2002.

Gifts and Hospitality Policy - They may be legitimate expenditures but they may also be bribes; decisions to prosecute will be based on the Code and the Guidance and the making of these payments may lead to prosecution under the Bribery Act 2010 and/or the Proceeds of Crime Act 2002.

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