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U.K. Fraud Office’s GC Offers Advice to Corporates for DPAs

Roberta Holland | October 29, 2014

With deferred prosecution agreements getting the green light in the U.K. earlier this year, the Serious Fraud Office’s top lawyer offered some advice this month for corporates looking to take advantage of  DPAs should they be faced with SFO investigation.

Alun Milford, general counsel of the fraud office since 2012, told the London audience at the Global Investigations Summit on Oct. 15 that the agency’s mission is to investigate and prosecute complex fraud cases, not be a regulator, educator, or adviser. That being said, Milford outlined the process in which corporates would admit wrongdoing and agree to strict terms as well as penalties. Those terms could include a hefty financial penalty, reparations for victims, required reforms to prevent another occurrence of the violation, and submission to regular monitoring. Failure to...

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