SFO

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This Week In Securities Litigation (Week ending April 4, 2014)

High speed trading and insider trading were key topics this week. Author Michael Lewis released a new book on high speed trading and, in an interview claimed the markets are “rigged.” The Commission focused on insider...more

Taking a Leap of Faith: Deferred Prosecution Agreements and Corporate Sentencing Guidelines Come to the UK

On 24 February 2014, UK prosecutors gained the ability to use deferred prosecution agreements (DPAs) in corporate crime cases. This followed the publication on 31 January 2014 of a Definitive Guideline for the sentencing of...more

UK’s Serious Fraud Office Looks to Pursue More Prosecutions of Corporates

A proposed amendment to the UK Bribery Act would give the SFO greater power to prosecute corporates for financial crimes committed by their employees. The head of the UK’s Serious Fraud Office (SFO), David Green,...more

What Price a DPA? Navigating Unchartered Waters

From today, Deferred Prosecution Agreements (“DPA”s) will be available in the UK to the Serious Fraud Office (“SFO”) and the Crown Prosecution Service (“CPS”) as a method for disposal of corporate criminal cases relating to...more

Pre-action Investigations: A Cautionary Tale

When there is the suspicion of wrongdoing, it is common practice for companies to carry out an investigation by commissioning reports, whether internally or with the outside assistance of lawyers or other professionals. If...more

UK SFO Drops High-Profile Corruption Case

The trial of Victor Dahdaleh in London has collapsed due to the absence of key prosecution witnesses. The UK’s Serious Fraud Office (SFO) recently dropped its case against Victor Dahdaleh, the British-Canadian...more

UK Boosts Anti-Corruption Enforcement Efforts

The UK’s Serious Fraud Office (SFO) is launching an investigation into whether claims of corruption by a former Rolls-Royce employee have any merit. Among the allegations is the assertion that Rolls-Royce gave Tommy Suharto,...more

“DPAs” Have Arrived in England: The Proof of the Pudding Is in the Eating

As noted in our previous Alert in September 2013, the UK Crime and Courts Act 2013 has now come into effect this month making deferred prosecution agreements (DPAs) available to the Director of the Serious Fraud Office (SFO)...more

Deferred Prosecution Agreements to Be Introduced in the UK

Beginning in February 2014, the agreements may be used as a sentencing tool for corporate bribery, fraud, and other economic crimes. Under the UK Crime and Courts Act 2013, which received royal assent in April,...more

What’s New in Anticorruption Enforcement

According to the New York Times, the Securities and Exchange Commission (“SEC”) is investigating potential bribery issues stemming from alleged abuses in JPMorgan’s “Sons and Daughters” hiring program in China. As reported in...more

Update on SFO’s first Bribery Act case

The UK Serious Fraud Office (SFO) has updated a webpage on its case relating to Sustainable Agroenergy plc and Sustainable Wealth Investments UK Ltd. These are the first charges to be brought by the SFO under the Bribery Act....more

Orrick's Financial Industry Week in Review - November 25,2013

FDIC Guidance on Deposit Advance Products - On November 21, the FDIC issued final supervisory guidance to FDIC-supervised financial institutions with respect to the risks imposed by certain deposit advance products. ...more

New Risks Associated with Simultaneous U.S. FCPA and U.K. Bribery Act investigations

On November 20, 2013, during a panel presentation at the 30th International Conference on the Foreign Corrupt Practices Act (“FCPA”), current and former prosecutors from the United States and the United Kingdom discussed the...more

UK Bribery: Construction in the Cross-Hairs

The UK’s Serious Fraud Office has made clear that its anti-bribery investigations are focussed on two industries in particular: construction and energy. Construction firms especially are under-prepared for the risks which...more

UK Announces Policy Shift in Pursuing Corruption and Bribery

On October 7, the Secretary of State for the Home Department in the UK released a policy paper entitled, Serious and Organized Crime Strategy, in which the Secretary discussed the government’s strategy towards combating...more

UK SFO Director Provides Guidance on the Bribery Act

SFO’s director’s recent speech outlines enforcement of the Bribery Act and developments related to self-reporting, the possible extension of the corporate offence, and prosecutions. On 24 October, David Green, director...more

Where Else? JP Morgan Chase Investigation Into Hiring Practices Expands

One of the most dreaded questions in any Foreign Corrupt Practices Act (FCPA) investigation is: Where Else? By this I mean that if you have a systemic failure of internal controls in one geographic area it may well be that...more

FCPA Compliance and Ethics Report-Episode 19 with Barry Vitou on Bribery Act Updates [Video]

In this Episode 19, I visit with Barry Vitou, one-half of thebriberyact.com duo. Barry advises on recent remarks at the PinsentMasons Regulatory Conference by SFO Director David Green on enforcement of the UK Bribery Act and...more

Reports Just In: Invasions From Mars And The UK Bribery Act

On this day 75 years ago Orson Welles caused a nationwide panic with his broadcast of “War of the Worlds” – a realistic radio dramatization of a Martian invasion of Earth. The show began on Sunday, October 30, at 8 pm....more

Private Equity Newsletter - Autumn 2013 Edition: Investing in Emerging Markets: Are You Managing Your Risks?

In times of austerity in Europe and America, emerging markets such as Africa, China, India, Latin America, the Middle East and CIS are increasingly offering the key opportunities for growth and investment returns for private...more

UK Government Announces Changes to Bribery Regime

Recent strategy paper sets out a new institutional structure for investigating bribery and proposes a reporting mechanism carrying financial incentives for whistleblowers. On 7 October, as part of its strategy document...more

Deferred Prosecution Deals and Sentencing Guidelines Come to the UK: How Will They Work in Bribery and Corruption Cases?

Although the perceived slow pace of investigations and prosecutions by the Serious Fraud Office ("SFO") has come in for a great deal of commentary and criticism, it does appear that the SFO is slowly but surely ramping up its...more

Red Notice Newsletter - August 2013

Introduction - Welcome to the July/August 2013 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. In this month’s edition, the UK’s Serious Fraud Office files its first Bribery Act charges; a...more

Strict UK Litigation Privilege Test for Joint Liquidator Reports

High Court holds that reports used by the Serious Fraud Office to obtain search and arrest warrants are not subject to litigation privilege in subsequent civil proceedings. ...more

How To Build A Culture Of Ethics And Compliance: The Greatest Article Ever – Part I

Donna Boehme and Jim McGrath continually rail against the notion that a ‘rogue employee’ causes the majority of bribery and corruption charges under such laws as the Foreign Corrupt Practices Act (FCPA) and UK Bribery Act. ...more

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