DPAs Don’t Come Cheap

Raj Chada Corporate Crime 0 Comments

First Judgment reveals factors that a court may use in DPA approval – AND –comments on adequate procedures The long awaited first DPA has come with a hefty price tag after ICMB Standard Bank agreed to pay $33 million US$ for failing to prevent corruption. This was also the first conviction under section 7 of the Bribery Act (see Chapters …

The first DPA secured – just what the SFO wanted from Father Christmas

Raj Chada Corporate Crime 0 Comments

Christmas has come early for the Serious Fraud Office (SFO) as it is expected that the first Deferred Prosecution Agreement (DPA) will be officially agreed on Monday 30 November 2015. It will conclude an investigation into the UK arm of South African lender Standard Bank – and is rumoured to deal with bribery in Africa. Standard Bank has issued a …

Using the Proceeds of Crime Act against property companies and landlords

Osman Osman Corporate Crime 0 Comments

The last few years has seen an unusual development in the use of proceeds of crime legislation against landlords. The proceeds of crime legislation is a powerful tool in the armoury of the police and investigative authorities to ensure, in the words of the former Serious and Organised Crime Agency, “that the ill-gotten gains of criminals could be seized.” This …

The Bribery Act 2010: An International Act with Far Reaching Consequences for Business

Adrian Eissa Corporate Crime 0 Comments

By Adrian Eissa This article first appeared on Corporate Live Wire on 24th July 2015. Adrian Eissa argues that UK businesses and those who perform services for them need to ensure that they take steps to comply with the Bribery Act. The foreword to the United Nations Convention against Corruption(1) declares that: “Corruption is an insidious plague that has a wide …

Recent changes to the Proceeds of Crime Act

Adrian Eissa Corporate Crime 0 Comments

By Peter Doyle QC, 25 Bedford Row This article first appeared on www.25bedfordrow.com on 25th July 2105. Despite the perception that POCA 2002 successfully operated so as to provide a draconian confiscation regime stripping criminals of the proceeds of their crimes and in so doing going some way to deter others from embarking on serious crime the Act was regarded …

Individual Accountability in Banking and Finance

Richard Burger, Partner and Marcus Bonnell, Counsel, RPC LLP Corporate Crime 0 Comments

Introduction On 7 March 2016, a new and enhanced regime for senior management responsibility will fully come into force in the United Kingdom. This regime is intended to impact upon many senior individuals working in financial services firms including some individuals who may not ordinarily be located in the UK. The new rules for the regulation of senior individuals in …

R v Boardman and R v Guraj – The result of limited resources

Matthew Elkins Corporate Crime 0 Comments

The Crown Prosecution Service’s (CPS) case preparation has been described as “lamentable” by the Court of Appeal in two decisions in so many weeks. It might be assumed that the rulings would provoke a sense of schadenfreude amongst defence lawyers – but the reality is that the CPS‘s woes are felt by all those in the criminal justice system no …

The Missing Interview Tape and Other Disclosure Issues

Liam Gregory Corporate Crime 0 Comments

By Liam Gregory, Solicitor, Saunders Law Limited The Defendant’s access to material which may undermine the prosecution case or which supports their version of events is a subject of direct relevance to all those interested in the proper administration of Justice. This article is about disclosure by the prosecution of interview tapes and the likely impact of the proposed update to …