Deferred Prosecution Agreements

News & Analysis as of

Anti-corruption

Focus on the US - An active FCPA docket anticipated - When compared to prior years, 2015 was relatively quiet for Foreign Corrupt Practices Act (FCPA) enforcement actions in the US. Although the total number of...more

The WSGR Data Advisor - February 2016

With a new year come exciting new developments in the world of privacy and data protection. We are thrilled to announce the launch of the digital version of The WSGR Data Advisor. Please visit our site for the latest news and...more

Offshore Tax Enforcement Update: DOJ Announces Criminal Charges Against Bank Julius Baer

The U.S. government has filed criminal charges against another Swiss Bank — Bank Julius Baer — and simultaneously secured guilty pleas from two Julius Baer bankers who had been fugitives for the past five years. Pursuant to...more

First DPA in the U.K. Signals Britain is Serious About Bribery & Corruption

Late last year, ICBC Standard Bank Plc, a U.K.-based financial institution with operations around the world, agreed to pay a $37 million fine and enter into a deferred prosecution agreement (DPA) with British financial...more

Global Anti-Bribery Year-in-Review: 2015 Developments and Predictions for 2016

I. Introduction: Enforcement Trends and Priorities - Among other significant developments, 2015 saw the U.S. Department of Justice (the “DOJ” or the “Department”) document a policy priority of holding individuals...more

AML Litigation and Individual Liability: FinCEN's Landmark Haider Case Moves Forward

A federal district court in Minnesota recently held that the Bank Secrecy Act (BSA) permits the Financial Crimes Enforcement Network (FinCEN) to bring suit against individuals for willfully violating the BSA's AML program...more

Foreign Corrupt Practices Act Enforcement 2016: In Like A Lamb, Out Like A Lion

In 2015, the U.S. Government significantly bolstered its resources dedicated to combat international corporate bribery under the Foreign Corrupt Practices Act ("FCPA"). By announcing the addition of a team of FCPA-dedicated...more

Standard Bank PLC: First U.K. Deferred Prosecution Agreement and Settlement with the SEC

On 30 November 2015, Standard Bank PLC (“Standard”) entered into the first ever Deferred Prosecution Agreement (“DPA”) with the Serious Fraud Office (“SFO”) for failing to prevent bribery under the Bribery Act 2010. Standard...more

Top Ten International Anti-Corruption Developments for November 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month, with links to primary...more

SFO v Standard Bank plc - The U.K.'s First DPA, an Unusual Set of Facts?

On 30 November 2015 the first UK Deferred Prosecution Agreement (DPA) agreed in the UK was approved. It was also the first time a company was sanctioned under Section 7 of the Bribery Act. Standard Bank plc (Standard Bank),...more

Now the Only Path to an SEC DPA or NPA: Self-Reporting

One of the critical questions when evaluating a potential FCPA violation is to decide whether to disclose the matter to the Justice Department and the SEC. The SEC recently announced a requirement that companies to...more

Deferred Prosecution Agreements: Would you really want one?

Like the morning after the night before, now we have finally seen the UK’s first deferred prosecution agreement (DPA), we are all left with one question: Would you really want one? On 30 November 2015, Sir Brian Leveson...more

Takeaways From UK's 1st Deferred Prosecution Agreement

In a judgment published on Nov. 30, Lord Justice Brian Leveson approved the first deferred prosecution agreement in the U.K., which was negotiated between the Serious Fraud Office and ICBC Standard Bank PLC. Lord Justice...more

Corporate Bribery: Successful Prosecutions in the United Kingdom

In a busy week for the Serious Fraud Office (SFO), the United Kingdom’s antibribery prosecutor, it has announced its first-ever deferred prosecution agreement (DPA) for bribery offences and the first guilty plea under the...more

UK Prosecutor Secures First Deferred Prosecution Agreement for Bribery

We consider the implications for corporations under UK and US law, and the future of global criminal and civil investigations. On November 26, 2015, the UK Serious Fraud Office (SFO) secured its first Deferred...more

Corporate Bribery: Successful Prosecutions in the United Kingdom

In a busy week for the Serious Fraud Office (SFO), the United Kingdom’s antibribery prosecutor, it has announced its first-ever deferred prosecution agreement (DPA) for bribery offences and the first guilty plea under the...more

First UK Deferred Prosecution Agreement Agreed by SFO

At a hearing on November 30, 2015, Southwark Crown Court approved the first deferred prosecution agreement (DPA) in the UK. DPAs have been available for use by the Serious Fraud Office (SFO) since February 2014, following...more

SFO announces first DPA

Following a court hearing on 30 November, SFO confirmed the approval of the first Deferred Prosecution Agreement (DPA). The DPA relates to Standard Bank plc (now ICBC Standard Bank plc). Standard Bank was the joint lead...more

SFO speaks on DPAs

Ben Morgan of SFO gave his views on the first DPA. He said he wanted to comment on general matters, which, in his view were: - that the case had proved where the “high bar” for co-operation could be. SFO had previously...more

SEC Policy Change: Voluntary Disclosure Now Required for DPA/NPA Resolutions in FCPA Cases

New SEC policy requires companies to self-report FCPA violations in order to be eligible for deferred prosecution agreements and non-prosecution agreements....more

Serious Fraud Office Reaches an Agreement with Standard Bank

The first deferred prosecution agreement in the UK was finalised between the Serious Fraud Office and Standard Bank, potentially paving the way for future similar agreements....more

Serious Fraud Office - first conclusion of a case under Section 7 of the Bribery Act 2010 - first deferred prosecution agreement

In 2012 the Government of Tanzania began the process of raising USD $600 million by way of a sovereign note private placement. The Tanzanian subsidiary of Standard Bank Group Ltd (SBG), Stanbic Bank Tanzania Ltd (Stanbic),...more

UK Bribery: For Cooperating Companies, Virtue Has At Least Some Rewards

On Monday 30 November, an English court approved a Deferred Prosecution Agreement (DPA) between the Serious Fraud Office and Standard Bank, in connection with payments made in Tanzania. This was the first DPA approved by the...more

Your daily dose of financial news The Brief – 12.3.15

Fed Chair Janet Yellen is doing all she can to soften the blow of (or at least sufficiently prep the markets for, bond traders be damned) the seemingly inevitable Fed interest rate liftoff at the Fed’s December meeting. ...more

Failure to prevent bribery: The first DPA SFO has announced the first agreed Deferred Prosecution Agreement under the Bribery Act...

The Bribery Act 2010 has been in force for over four years. For much of that time, businesses have waited for clarification of the s7 offence of failure to prevent bribery. In 2013, new legislation (in force from early 2014)...more

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