Subject to Inquiry

Subject to Inquiry

THE LATEST ON GOVERNMENT INQUIRIES AND ENFORCEMENT ACTIONS

Government Investigations and White Collar Litigation Group

William Boddy

Photo of William Boddy William Boddy is a risk management and litigation strategist for global corporations and financial institutions. He represents clients in international arbitrations and before UK courts in complex multijurisdictional cases.

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“Not the serious champagne office” – SFO Director indicates common sense approach to Bribery Act

By William Boddy on Anti-Bribery and Corruption, Compliance, Election and Political Law
In response to speculation as to whether corporate hospitality involving tickets to the recent London Olympic Games might result in prosecutions under the Bribery Act, Serious Fraud Office Director David Green QC has stated: "We are not interested in that sort of case. We are interested in hearing that a large company has mysteriously come second in bidding for a big contract. The sort of bribery we would be investigating would not be tickets to Wimbledon or bottles of champagne. We are not the 'serious champagne office'."… Continue Reading

British Bankers’ Association guidance on the Bribery Act

By William Boddy on Anti-Bribery and Corruption, Compliance
The British Bankers' Association (BBA) has published its own guidance for the banking sector as to how to comply with the Bribery Act 2010. This guidance (entitled "Guidance on compliance: Practical implementation issues for the banking sector") is intended to cover both the requirements of the Act and Financial Services Authority (FSA) regulatory obligations and supplements, rather than replaces, the Ministry of Justice's (MOJ) existing Guidance and that from financial services regulators and prosecutors.… Continue Reading

Self reporting under the Bribery Act: Why only ten companies so far?

By William Boddy on Enforcement and Prosecution Policy and Trends
Incentives to self report are a major part of effective anti-corruption enforcement in the US and the Guidance issued by the Ministry of Justice attempts to lay the groundwork for a similar culture of self reporting in the UK. But, absent the same freedom to engage in plea bargaining that its US counterpart, the Department of Justice, enjoys, does the Serious Fraud Office have the tools to incentivise self reporting sufficiently?… Continue Reading

Serious Fraud Office targets private equity firms

By William Boddy on Enforcement and Prosecution Policy and Trends
One industry which faces potentially onerous obligations under the Bribery Act 2010 about which there has been little official comment is private equity. That position changed last week. In a speech to private equity clients of the law firm Debevoise & Plimpton LLP, Richard Alderman, the Director of the Serious Fraud Office, made it clear that the Act applied as much to private equity firms as any other.… Continue Reading

Payments made under duress: bribery or extortion?

By William Boddy on Anti-Bribery and Corruption, Compliance
Picture an all too common scenario: An importer of fresh produce learns that a shipment has been held up at customs abroad. Although there is no legitimate reason for delay, the foreign port authorities insist upon carrying out unspecified administrative checks and searches that "could take weeks". In the meantime, the cargo sits on the dockside baking in the hot sun. It is likely to perish in days. If the shipment is not made on time, a valuable client will be lost. A representative of the port authorities explains that for "small fee", the formalities can be waived and the cargo approved. Does paying this fee constitute a bribe?… Continue Reading

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