The Financial Conduct Authority (“FCA”) ) has been unsuccessful in its attempted prosecution of a former banker, Konstantin Vishnyak, for destroying documents relevant to an FCA investigation brought against him for suspected insider dealing offences. This marks the first time the FCA has exercised its powers in connection with a destruction of documents offence under section 177(3)(a) of the Financial Services and Markets Act 2000 (“FCA”). Despite the outcome, it illustrates the risks for firms and individuals in using messaging systems such as WhatsApp. Read more

Welcome to the November 2020 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. Read more

In October 2020 the SFO published guidance regarding Deferred Prosecution Agreements (“DPAs”) in a new chapter of its Operational Handbook. The guidance offers a practical step-by-step map to the route that the SFO, and, therefore, a target company and its advisers, will traverse where seeking to negotiate an outcome that avoids the need for prosecution. Read more

The Crimes Legislation Amendment (Combatting Corporate Crime) Bill (the Combatting Corporate Crime Bill) will be the most significant shake up of Australia’s anti-corruption landscape for companies since the foreign bribery offence was introduced in 1999. Read more

On 30 October 2020, Mrs Justice May, sitting in the Crown Court in Southwark, approved the UK’s ninth deferred prosecution agreement (“DPA”) between the UK Serious Fraud Office (“SFO”) and Airline Services Limited (“ASL”) (read the SFO press release here). The investigation was only made public on 22 October 2020 after the SFO announced that a DPA was reached in principle at a private hearing held the previous day before Mrs Justice May. Read more

On 3 November 2020, the Ministry of Justice published its response (the “Government’s Response”) to its Call for Evidence on corporate liability for economic crime which was launched in January 2017 and ran until March 2017 (the “Call for Evidence”). The Government’s Response has been long awaited but does not reach any definitive conclusion on the way forward for reform. Read more

“Corporate criminal liability” was the topic for discussion by a global panel of HSF experts on 22 October 2020. The webinar formed part of our Global Conference Series, which has previously covered developments in: CC&I in the context of Covid-19; Anti-Bribery and Corruption and DPAs; global sanctions and whistleblowing. Read more

On 16 October 2020, the French Anticorruption Agency (the "AFA") released the expected draft update of its guidelines published in the French Official Journal on 22 December 2017 "aimed at helping all public and private entities to implement anticorruption prevention and detection processes". Read more