On 30 November 2015, in a public hearing, Sir Brian Leveson formally approved the first DPA under the Crime and Courts Act 2013. The DPA related to Standard Bank Plc (now known as ICBC Standard Bank Plc) in respect of an offence of failing to prevent bribery, contrary to section 7 of the Bribery Act 2010. Under the terms of the DPA, which will last for 3 years, Standard Bank Plc is required to pay:
- a US$ 16.8 million fine;
- US$ 8.4 million in the disgorgement of profits;
- US$ 7.04 million in compensation and interest to the Tanzanian government; and
- GB£ 330,000 (US$ 500,000) in SFO legal fees.
It is also required to cooperate with relevant authorities as required in respect of the conduct and is to undergo an independent review of its internal compliance procedures.
In an SFO press release, Director of the SFO, David Green CB QC commented that “this landmark DPA will serve as a template for future agreements. The judgment from Lord Justice Leveson provides very helpful guidance to those advising corporates.”