The SFO Speaks in the Mabey & Johnson Case: Private Equity – Are You Listening?

Thomas Fox - Compliance Evangelist
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As reported by thebriberyact.com, on January 13, 2012, the UK Serious Fraud Office (SFO) announced the final piece of the Mabey & Johnson (M&J) case, in which the company’s sole shareholder Mabey Engineering (Holdings) Limited agreed to pay back dividends gained as a result of corruption of M&J obtain Iraqi bridge-building contracts. SFO Director Richard Alderman lauded it as “the final act in an exemplary model of corporate self-reporting and co-operative resolution”. I hope that every compliance officer of a private equity company read the report by the Bribery Act guys because this is a remedy which may soon be aimed directly at your company.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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