Richard Booth

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UK Conservative Party Pledges to Abolish Serious Fraud Office if Re-elected on 8 June 2017

In my C-Suite Risk Report posting in March, I discussed the UK’s Serious Fraud Office’s (SFO) investigation into Rolls-Royce (RR) and the UK Court’s approval of a Deferred Prosecution Agreement (DPA). As a result of that DPA, RR avoided prosecution, but paid £671m (approximately US $800m) to UK, US and Brazilian authorities in order to … Continue Reading

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

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.[1]  The investigation focused on bribes Rolls-Royce paid to secure valuable export contracts in various markets, including China, Brazil and Indonesia.  Although the DPA allows Rolls-Royce … Continue Reading

New UK Whistleblowing Rules Encourage But Do Not Reward Employee Disclosures

The 7 September 2016 will see UK regulators implement new whistleblowing rules and guidance for certain businesses in the financial services sector. The new rules, introduced by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA), will apply to UK deposit takers with assets of £250m or greater including banks, … Continue Reading