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Patel jailed for nine years

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • November 18 2011

A warning was sent out today as the first person to be convicted under the Bribery Act was jailed for a total of nine years

Serious economic crime: a boardroom guide to prevention and compliance

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • November 4 2011

This week saw the publication of the first edition of Serious Economic Crime by White Page Ltd, in association with the Serious Fraud Office (“SFO”

Innospec Ltd: former executives charged with fraud and corruption offences

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • October 28 2011

Following the news that a former Business Unit Director of Innospec Ltd, David Turner, appeared before Westminster Magistrates' Court on Tuesday, charged with conspiring to make corrupt payments to public officials in Indonesia and Iraq, the Serious Fraud Office (“SFO”) announced yesterday that two further Innospec executives have now been charged with associated corruption offences

The first person found guilty of an offence under the U.K. Bribery Act

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • October 24 2011

Following on from my post about the first person to be charged under the U.K. Bribery Act, Munir Yakub Patel recently appeared before Southwark Crown Court to answer the charge that, in exchange for £500, he used his job as an administration clerk to avoid putting details of a traffic summons offence on a court database

Creative accounting: tax records and the Bribery Act

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • September 8 2011

At this week's Cambridge Symposium on Economic Crime, the head of the U.K.’s Serious Fraud Office (“SFO”), Richard Alderman, warned that companies believed to be paying bribes to obtain work overseas will be forced to hand over their tax records to the SFO

The first person charged under the U.K. Bribery Act

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • September 1 2011

A court clerk, who allegedly accepted £500 for fixing a motoring offence, has the dubious honour of becoming the first person to be charged under the U.K. Bribery Act

The Bribery Act and the SFO: who will be investigated first?

  • McGuireWoods LLP
  • -
  • United Kingdom, USA
  • -
  • July 29 2011

Following on from my recent post about the pharmaceutical industry, and the methods used by drugs companies to ‘market’ their products, it is now generally accepted that the UK Serious Fraud Office (“SFO”) is looking for some high-profile cases to demonstrate its commitment to the prosecution of both companies and individuals involved in acts of bribery and corruption

The Bribery Act and the pharmaceutical industry: is big pharma in big trouble?

  • McGuireWoods LLP
  • -
  • United Kingdom, USA
  • -
  • July 8 2011

Now that the fanfare is over, it has been suggested by several commentators, including Jonathan Russell in The Telegraph, that the Serious Fraud Office (“SFO”) will need to take “a big scalp” before the Bribery Act becomes a real deterrent to companies carrying out corrupt activities

D&O liability insurance: the impact of the Bribery Act

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • May 23 2011

Directors and Officers ("D&O") Liability Insurance is insurance cover available to the directors or officers of a commercial organisation, or to the organisation itself, for investigation or defence costs or damages incurred in respect of an investigation, prosecution or civil claim for alleged wrongful acts (while acting in their capacity as directors or officers of a commercial organisation

Risk assessment: the vital first step towards implementing adequate procedures

  • McGuireWoods LLP
  • -
  • United Kingdom
  • -
  • May 5 2011

The Guidance, issued by the Ministry of Justice on 30 March 2011, identifies “Risk Assessment” as the third of its “Six Principles”