News & Analysis as of

Serious Fraud Office

English Court Makes First Big Move on Privilege since the ENRC Decision

by Ropes & Gray LLP on

The case of Bilta & Ors v. RBS & Anor (“Bilta”) handed down at the end of 2017 was the first test of the principles in the earlier case of Serious Fraud Office v. Eurasian Natural Resources Corporation Limited (“ENRC”)...more

UK Court Takes a “Realistic” and “Commercial” Approach to Litigation Privilege in the Context of Internal Investigations

by King & Spalding on

In a judgment handed down at the end of 2017, but only recently released, the High Court in London has determined - in Bilta (UK) Ltd v RBS - that interviews held with employees in preparation of a report intended to deter a...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The UK’s Serious Fraud Office unveiled new charges against Barclays Bank yesterday over a $3 billion loan it made to Qatar in 2008 for the purpose of “allowing the firm to directly or indirectly acquire shares in Barclays...more

Bilta v. RBS: When Will Litigation Privilege Apply to Information Gathering in Internal Investigations

by Latham & Watkins LLP on

The English High Court has reconfirmed that litigation privilege can apply to information gathering in internal investigations. Specifically, lawyers must have engaged in the information gathering for the dominant purpose of...more

International Co-operation in Investigations

by WilmerHale on

In recent years, the rise of multi-jurisdictional investigations and corresponding multi-jurisdictional settlements has changed the enforcement landscape. Notable examples include the tri-lateral settlements of Odebrecht and...more

Europe Insights

Despite a year of continued global political uncertainty and increasing enforcement, shareholder activism and foreign investment control activity, the 2018 outlook for Europe is positive overall. Skadden partners in the U.K.,...more

Mad Dogs and Englishmen: Part Deux

by Cohen & Gresser LLP on

One of the most insipid hit records of the 1960s was Roger Miller’s “England Swings (Like a Pendulum Do).” In an earlier edition of this august Journal, I detailed how differently our English “cousins” swing on the issue of...more

Key Regulatory Topics: Weekly Update 12 January – 18 January 2018

by Allen & Overy LLP on

BREXIT - HoL EU Financial Affairs sub-committee publishes transcript of BoE oral evidence on financial supervision - On 17 January, the HoL EU Financial Affairs Sub-Committee published the transcript of the oral...more

A Last Hurrah - David Green CB QC’s Final Appearance Before the Justice Committee

by WilmerHale on

On 13 December 2017, the Justice Committee held an evidence session on the work of the Serious Fraud Office (“SFO”). In his last scheduled appearance before the Justice Committee, David Green CB QC—Director of the...more

What to look out for in UK litigation and investigations in 2018

by Ropes & Gray LLP on

2017 was an important year for the UK’s Serious Fraud Office (“SFO”). The Government’s plan to merge the SFO with the National Crime Agency was scrapped, seemingly securing the SFO’s future as an independent investigator and...more

Update: Creation of the National Economic Crime Centre

by WilmerHale on

On 11 December 2017 the Government announced the creation of the National Economic Crime Centre (NECC). The NECC will be based within the National Crime Agency (NCA) and will act as a multi-agency organisation, tasked with...more

FCPA Digest - January 2018

by Shearman & Sterling LLP on

Shearman & Sterling’s bi-annual Trends & Patterns in FCPA Enforcement report provides insightful analysis of recent enforcement trends and patterns in the US, the UK and elsewhere, as well as helpful guidance on emerging best...more

UK Government Announces National Economic Crime Centre

by Ropes & Gray LLP on

The UK Home Secretary, Amber Rudd, announced earlier this week that the UK Government plans to set up a new National Economic Crime Centre (NECC) to be hosted within the UK’s National Crime Agency (NCA). The focus of the NECC...more

Dorsey Anti-Corruption Digest - December 2017

by Dorsey & Whitney LLP on

Deputy Attorney General Rod Rosenstein announced the addition of a new Department of Justice (DOJ) Foreign Corrupt Practices Act (FCPA) policy, titled the FCPA Corporate Enforcement Policy. The new policy, which was...more

The Cloak of Legal Professional Privilege

by McGuireWoods LLP on

The recent judgment in the case of Serious Fraud Office (SFO) v Eurasian Natural Resources Corporation Ltd [2017] EWHC 1017 (QB) is a matter of major concern for companies and those involved in advising them on the best...more

SBM Offshore Finally Reaches the Finish Line and Settles FCPA Case for $238 Million

by Michael Volkov on

In a follow-on prosecution and end to a twisted investigation and enforcement path, SBM Offshore agreed to settle an FCPA enforcement matter for $238 million (including a $500,000 criminal fine and $13.2 million forfeiture)....more

Two Charged By UK SFO As Unaoil Bribery Investigation Deepens

by Shearman & Sterling LLP on

The UK Serious Fraud Office has charged two individuals in relation to the SFO's ongoing bribery investigation into Unaoil....more

UK Court of Appeal Grants ENRC Permission to Appeal Widely Criticised Privilege Ruling - and Law Society Seeks to Intervene

by Shearman & Sterling LLP on

On October 11, 2017, Eurasian Natural Resources Corporation was granted permission by the Court of Appeal to appeal the High Court's ruling articulating a significant restriction on the scope of legal professional privilege...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The DOJ unsealed criminal charges against five individuals involved in the Rolls-Royce FCPA action previously brought by the DOJ, SFO and Brazilian authorities. The charges were filed in the Southern District of Ohio. Each...more

Lawyers Beware: Battle of Legal Professional Privilege of Internal Investigation Continues in England and Wales

Last month, the Court of Appeal of England and Wales granted permission for Eurasian Natural Resources Corp. Ltd. (“ENRC”) to appeal the May 2017 decision by the High Court relating to a dispute over the legal professional...more

Rolls Royce in America – Four Guilty Pleas and an Indictment

by Thomas Fox on

For those who might have wondered if the Sessions Justice Department (DOJ) was going to enforce the Foreign Corrupt Practices Act (FCPA), that question seems to have been answered in the affirmative. In September, the DOJ and...more

Red Notice Newsletter - October 2017

ANTICORRUPTION DEVELOPMENTS – Global Compliance Overhaul for SAP as DOJ and SEC Investigate Payments Allegedly Related to South African Government Contracts – On October 26, 2017, German software company SAP SE...more

Alternatives to prosecution in an age of global enforcement - Global alternatives to prosecution when a corporate is facing a...

by White & Case LLP on

Businesses are increasingly becoming global, and so are enforcement actions in response to alleged corporate wrongdoing around the world. The harsh reality is that wherever there is potential corporate criminal wrongdoing,...more

Government Enforcement Investigations – What You Need to Know in 2018

On October 4, 2017, Skadden presented the seminar “Government Enforcement Investigations – What You Need to Know in 2018.” Skadden partners Ryan Junck and Elizabeth Robertson, both based in London, moderated the panel...more

Criminal justice: How best to stop economic crime

by WilmerHale on

Speaking at the 35th annual Cambridge International Symposium on Economic Crime, Robert Buckland QC MP, the Solicitor General for England and Wales, and David Green QC, Director of the SFO, addressed the question, “Preventing...more

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