GT London Law Blog

GT London Law Blog

Legal Advisers for a Changing World

Tag Archives: white collar defense & special investigations

‘Above & Beyond’? Serious Fraud Office Issues Corporate Co-Operation Guidance – Part I

Posted in Corporate, criminal law, GT Alert, Serious Fraud Office, sfo, White collar
The UK Serious Fraud Office (SFO) has issued its long-awaited guidance on corporate co-operation. For the first time in one place, the SFO has set out what in its view are ‘indicators of good [co-operation] practice’ for companies under investigation. This is a helpful clarification. In its own words the SFO defines co-operation as going… Continue Reading

Beware of Strangers Bearing Gifts: UK ‘Business Integrity Initiative’ Aims to Support the Anti-Corruption Efforts of SMEs

Posted in Bribery Act 2010, Corporate, criminal law, Government, GT Alert, International Trade, National Crime Agency, Serious Fraud Office, sfo, White collar
The UK government’s Anti-Corruption Newsletter for Summer 2019, supported by ‘Anti-Corruption Champion’ John Penrose, MP for Weston-super-Mare, covers the latest developments in anti-corruption over the last quarter. Two reported highlights illustrate the government’s steadfast approach to issuing new statutory guidance for both large corporates and small UK businesses. However, the latter category could receive subsidised… Continue Reading

The Serco Deferred Prosecution Agreement: A Lesson in Pragmatism

Posted in criminal law, Deferred Prosecution Agreement, GT Alert, Serious Fraud Office, sfo, White collar
On 4 July 2019 at Southwark Crown Court, Mr Justice William Davis formally approved the fifth Deferred Prosecution Agreement (DPA) entered into by the UK’s Serious Fraud Office (SFO). The SFO’s latest DPA is with Serco Geografix Limited (SGL), a now-dormant subsidiary of Serco Limited (SL), and marks the end of a six-year investigation which started… Continue Reading

M&A Deal Flushes Out Bribery Scheme Leaving Seller Director with a Multi-Million Pound Hangover and Jail Time

Posted in GT Alert, Serious Fraud Office, White collar
On 30 May 2019 the SFO issued a press release announcing that Carol Ann Hodson, the former director and owner of a company named ALCA Fasteners Ltd (ALCA), pleaded guilty to paying bribes amounting to £300,000 in order to secure contracts worth £12m. The bribes were paid to purchasing manager1 of a German company over the… Continue Reading

Roll Up, Roll Up: ‘Cannabis Inc.’ Is Open for Business, but UK Investors Must Wait Their Turn

Posted in cannabis, criminal law, Proceeds of Crime Act, White collar
With the U.S. cannabis market reported to be worth around $10 billion, sales in Canada expected to reach $6.5 billion by 2020, and the UK having recently decriminalised the use of the drug for medicinal purposes, UK-based investors are eyeing the potential for profit from this new business area. Click here to read the full GT… Continue Reading

Money Grows on Trees for Local Council Pursuing Home Improvement Enthusiasts and Local Football Club Fundraiser

Posted in criminal law, GT Alert, Proceeds of Crime Act, White collar
It is widely thought that proceedings under the Proceeds of ‘Crime’ Act, such as confiscation, are intended to obtain the money someone makes from committing a crime. So, the thinking goes, if a person is convicted of fraud having made £100,000 from the crime, then those funds can be confiscated by the courts. While this… Continue Reading

UK Financial Conduct Authority Anti-Money Laundering Investigations Underway With Threats of Civil and Criminal Enforcement

Posted in GT Alert, White collar
Speaking on 4 April 2019, the head of enforcement for the UK FCA, Mark Steward, warned those subject to the UK’s anti-money laundering regulations that ‘it is time that the FCA gave effect to the full intention of the Money-Laundering Regulations which provides for criminal prosecutions’. He added: ‘[The FCA is] now conducting ‘dual track’ AML investigations,… Continue Reading

FCA Receives Thousands of Insider Dealing Tip-Offs From Financial Services Firms; Few Investigations Opened

Posted in insider dealing, White collar
Figures provided by the UK’s Financial Conduct Authority (FCA) show that in spite of the thousands of tip-offs on insider dealing it receives from banks and other financial services firms, it rarely opens an investigation. In a response to a freedom of information (FOI) request made by Greenberg Traurig’s White Collar Defence and Special Investigations… Continue Reading

UK Review of the Bribery Act 2010 – Committee Concludes New Guidance Needed

Posted in Bribery Act 2010, Compliance Programs, Corporate, criminal law, Government, White collar
In 2018 the House of Lords announced it would set up an ad hoc Select Committee to conduct a post-legislative review of the Bribery Act 2010. Greenberg Traurig Shareholder Anne-Marie Ottaway was appointed Specialist Advisor to the Committee, which today published the report of its findings. The review confirms that the Bribery Act 2010 is “an… Continue Reading

UK Court Rules a Suspect in a Criminal Investigation has Reasonable Expectation it will be Kept Private

Posted in White collar
In Sir Cliff Richard OBE v. The British Broadcasting Corporation and The Chief Constable of South Yorkshire Police [2018] EWHC 1837 (Ch) a UK court has ruled that the reporting by the BBC of a police investigation (which was later closed without prosecution) into Sir Cliff Richard and televised search of his home using a helicopter flying… Continue Reading