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Rolls-Royce

THE LATEST: Behavioral Remedy Satisfies European Commission in Rolls-Royce’s €720M Agreement to Purchase the Rest of ITP

by McDermott Will & Emery on

WHAT HAPPENED: ..Rolls-Royce and SENER have a 47 percent/53 percent joint-venture in Industrial de Turbo Propulsores (ITP)–an aircraft engine components manufacturer....more

Tesco: The Serious Fraud Office secures its fourth Deferred Prosecution Agreement

by WilmerHale on

On 10 April 2017, the Serious Fraud Office (“SFO”) entered into a Deferred Prosecution Agreement (“DPA”) with Tesco Stores Limited (“Tesco Limited”), as part of which Tesco Limited will pay a £129 million financial penalty...more

Projects and Energy Weekly Snippets

by Hogan Lovells on

Moz plant illustrates rapid commissioning potential of gas engines - Electricity generation using gas as a fuel has great potential to meet the growing needs of many African countries, especially with a peaking-plant...more

Policing and crime act 2017: how sharp will OFSI's teeth prove to be?

by DLA Piper on

The Policing and Crime Act 2017 (PCA) received Royal Assent on 31 January 2017. Buried within Part 8 are a number of provisions which make significant changes to the financial sanctions regulatory landscape. Most likely to be...more

Rolls-Royce Plc Motors Away from Prosecution by Paying Authorities £671m in Connection with Bribery and Corruption Offences

by Sedgwick LLP on

After a four year investigation by the UK’s Serious Fraud Office (“SFO”) into car and engine manufacturer Rolls-Royce, a UK Court approved a Deferred Prosecution Agreement (“DPA”) in January 2017. The investigation focused on...more

The DOJ Expects “Third-Party Management” from Compliance Programs

2016 was a banner year for global anti-corruption enforcement: the U.S. government set records in terms of both the number of FCPA actions brought and the total dollar amount of related fines. Meanwhile, governments from...more

Uptick In Coordinated U.S.-Brazil Anti-Corruption Enforcement

by King & Spalding on

As companies expand across borders and invest more heavily abroad, foreign enforcement authorities are following the example set by the U.S. Department of Justice and the U.S. Securities and Exchange Commission in directing...more

Rolls-Royce Proposed Acquisition of Spanish Rival Industria de Turbo Propulsores. The European Commission Invites Interested Third...

by McDermott Will & Emery on

On 4 March 2017, the European Commission (Commission) published a notice concerning the notification of the proposed acquisition of the Spanish aircraft company Industria de Turbo Propulsores SA (Spain, ITP), by Rolls-Royce...more

Top Ten International Anti-Corruption Developments for January 2017

by Morrison & Foerster LLP on

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 from the past month, with links to primary...more

Lessons learned from the Rolls-Royce Deferred Prosecution Agreement

by WilmerHale on

On 17 January 2017, Sir Brian Leveson, the President of the Queen’s Bench Division, declared that the proposed Deferred Prosecution Agreement ("DPA") between the SFO and Rolls-Royce plc and Rolls-Royce Energy Systems Inc...more

The Bribery Act and Management of Commercial Intermediaries

by Dentons on

Omani companies with UK shareholders (whether minority or majority) could be forgiven for believing that the UK Bribery Act 2010 (the Act) does not apply to their operations in the Sultanate of Oman. However, two recent cases...more

UK Regulation Round Up - January 2017

by Proskauer Rose LLP on

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK regulation for alternative asset managers. The start of 2017 saw a number of regulatory developments including...more

Red Notice Newsletter - January 2017

ANTICORRUPTION DEVELOPMENTS - Las Vegas Sands Corporation Agrees to Pay Approximately $7 Million to Resolve DOJ FCPA Enforcement Action – On January 19, 2017, Las Vegas Sands Corporation (“Sands”), a Nevada-based...more

Serious Fraud Office Makes Big Splash with UK Bribery Act Resolution with Rolls Royce

by Michael Volkov on

After years of fits and starts, and promises and disappointments, the Serious Fraud Office and the UK Bribery Act made its initial splash on the anti-corruption enforcement landscape. Since 2011, companies have been...more

SFO and Rolls-Royce agree to half billion pound DPA

by Morrison & Foerster LLP on

Just over a year after the approval of the first ever Deferred Prosecution Agreement (DPA), Southwark Crown Court on 17 January 2017 approved a DPA proposed by the Serious Fraud Office (SFO) with UK leading engineering group,...more

Modern Enforcement: Rolls-Royce’s $800 Million Global Settlement

by Bracewell LLP on

Rolls-Royce plc, a UK-based company that manufactures engines and generators for the aerospace, defense, marine, and energy sectors, has agreed to pay over $800 million to resolve parallel investigations by U.S., UK, and...more

Judged by the Company You Keep

by NAVEX Global on

Earlier this month news broke that the venerable British automaker Rolls-Royce had settled an international prosecution alleging that the company’s third-party intermediaries bribed local officials in Asia. The company agreed...more

The FCPA Enforcement Run Continues into 2017

by Michael Volkov on

Just when we thought 2016 was over and we could all breathe a sigh of relief, DOJ and the SEC have continued to run with a string of new enforcement actions. To all of those prognosticators, paparazzi, commentators, chicken...more

Rolls-Royce Global Enforcement Action: Part IV – What Does it all Mean?

by Thomas Fox on

Today I conclude my series on the Rolls-Royce global anti-corruption enforcement action by taking a look what it all means going forward. The resolution is more than simply the stunning fines and penalties of £671 million...more

New Sheriff In Town As Rolls-Royce Pays Record Penalty For Foreign Bribery And Corruption

On 17 January 2017, the UK Serious Fraud Office (“SFO”),[1] the US Department of Justice (“DOJ”),[2] and the Brazilian Ministério Público Federal (“MPF”) announced an $800 million global settlement with Rolls-Royce plc and...more

Rolls Royce Global Enforcement Action-Part III, the US DPA

by Thomas Fox on

Today I continue my exploration of the Rolls-Royce global corruption enforcement action by considering the company’s resolution in the US under the Foreign Corrupt Practices Act (FCPA). Before we dive into that, I first...more

Rolls-Royce Pays Over $800 Million to Settle Global Corruption Investigation

by Bryan Cave on

On January 16, British engineering group Rolls-Royce Plc announced a global settlement of more than $800 million dollars with anti-corruption authorities in Britain, the U.S. and Brazil, making it the fifth-largest global...more

Corporate Criminal Liability: the UK is Now Talking the Talk and Walking the Walk

by Latham & Watkins LLP on

The UK’s growing focus on corporate criminal liability was seen in two recent pieces of news. Last Friday the government announced a consultation on extending the reach of corporate criminal liability to additional...more

Rolls-Royce enters into £497 million DPA with SFO

by K&L Gates LLP on

On January 17, 2017, Rolls-Royce entered into a deferred prosecution agreement ("DPA") with the UK's Serious Fraud Office (the "SFO"), under which the company will pay £497 million plus interest to the SFO in relation to...more

Rolls-Royce Global Enforcement Action, Part II

by Thomas Fox on

Today I continue my exploration of the Rolls-Royce global corruption enforcement action which included the largest fine to-date under the UK Bribery Act, with its total fines and penalties under three agreements being around...more

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