David Green, Director of SFO, spoke on the changes SFO has made since he took up his position in 2012. Among the points he made were:

  • reiterating SFO's views that self-reporting was no guarantee of civil rather than criminal consequences;
  • repeating that foreign bribery is not acceptable and that SFO will never accept it as a necessary cost of doing business;
  • welcoming the introduction of deferred prosecution agreements, which he confirmed is due to be in early 2014; and
  • suggesting that a corporate offence similar to the Bribery Act "failure to prevent bribery" offence should apply to companies in respect of the prevention of all corporate fraud and related offences, so that a company would in effect be liable for negligence subject to a similar "adequate procedures" defence to the Bribery Act's.

(Source: SFO Speaks on Recent Developments)