- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2024-02-23T12:22:00
U.K. bosses are unlikely to face fines, jail time, or any other sanction if the companies they run are involved in economic or corporate crime, according to research by Spotlight on Corruption.
The campaign group’s report, “Power Without Responsibility,” found the U.K.’s main investigatory and enforcement agencies responsible for prosecuting serious economic and financial crime have dismal prosecution records against senior executives at large firms.
Since 2013, 6 percent of the investigations carried out under the Financial Conduct Authority’s (FCA) senior managers regime have resulted in any enforcement action, the group found.
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A New York-based chief counsel and compliance officer was charged for embezzling more than $200,000 from the consulting firm he worked for, the Manhattan District Attorney’s Office announced.
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Consolidated Nuclear Security agreed to pay $18.4 million to settle alleged False Claims Act violations regarding the submission of timecards for unworked hours to the National Nuclear Security Administration.
