To say regulators in the US and UK have traditionally used different tools to ferret out and punish fraud and corruption is a considerable understatement. As compared with the Serious Fraud Office (SFO) and the Ministry of Justice (MOJ), the United States Securities and Exchange Commission (SEC) and their counterparts at the Department of Justice (DOJ) take a more active approach to identifying and prosecuting - and in appropriate cases, settling - fraud and corruption cases.… Continue Reading
The UK Serious Fraud Office ("SFO") is looking for some high-profile cases to demonstrate its commitment to the prosecution of both companies and individuals involved in acts of bribery and corruption.… Continue Reading
News Corp's small (very small, given the vast number of problems) consolation is that the new Bribery Act 2010 with its unlimited fines and ten year prison sentences will not apply because the acts being investigated all pre-date 1st July 2011, when the Act came into force.… Continue Reading
On May 17, 2011, the SEC announced that it has entered into its first-ever Deferred Prosecution Agreement ("DPA"). The agreement brings to light a significant resolution option that may be on the table for companies that discover potential violations of federal securities laws during internal investigations or are already the subject of an SEC investigation or enforcement action.… Continue Reading
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