Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

First British DPA Provides Much to Ponder

Tom Fox | December 8, 2015

It has finally come to pass: the first deferred-prosecution agreement under the U.K. Bribery Act!

In a courtroom in London, in late November, the Serious Fraud Office and attorneys for the defendant Standard Bank (now known as ICBC Standard Bank) convened to seek formal judicial approval of a DPA for the bank’s conduct in failure to prevent payment of bribes, made illegal under Section 7 of the Bribery Act. The bribes were paid out by an affiliate of the London-based institution, Stanbic Bank Tazania.

The conduct by Stanbic was quite egregious. It involved the local bank handling an offering to raise Tanzanian government financing....

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.