New DPP appointed
Alison Saunders has been appointed as the new Director of Public Prosecutions (DPP) at the Crown Prosecution Service (CPS) to succeed Keir Starmer QC. Ms Saunders is the first DPP to be appointed from within the CPS and is currently the chief Crown prosecutor for London. Ms Saunders will take over from Mr Starmer when he steps down at the end of his 5 year term on 1 November 2013.
BIS call for evidence on whistleblowing framework
The Department for Business, Innovation & Skills (BIS) has published a call for evidence on its whistleblowing framework. BIS is seeking evidence to help it examine provisions which were unaffected by changes to the whistleblowing regime implemented through the Enterprise and Regulatory Reform Act 2013. Responses are requested by 1 November 2013.
IOSCO publishes paper on cyber-crime, systematic risk and global securities markets
The International Organization of Securities Commissions has published a joint paper with the World Federation of Exchanges on Cyber-crime, securities markets and systemic risk. The report explores the evolving nature of cyber-crime in securities markets and the threat it poses to the fair and efficient functioning of markets. Importantly, it highlights the urgent need to consider cyber threats to securities markets as a potential systemic risk.
Justice Secretary asks SFO to investigate security firms
The Justice Secretary has asked the Serious Fraud Office (SFO) to consider investigating the UK's leading security companies for overcharging for tagging criminals in England and Wales. Anomalies have been found in billing processes which include charging for people who were no longer on electronic tag, and in some cases for individuals who had died. One of the firms involved has refused to take part in a forensic audit and so the Justice Secretary has asked the SFO to consider if an investigation is appropriate.
Transparency International guidance for conduct of effective bribery risk assessment
Transparency International UK has published a guide to diagnosing bribery risk and conducting effective bribery risk assessments. The guide provides good practice principles for risk assessment, assessment process check lists and a risk assessment template.
SFO recent statistics
A Freedom of Information (FOI) request has revealed that the Serious Fraud Office (SFO) is investigating just two cases relating to the Bribery Act (the Act), more than two years after the law came into force. The FOI request revealed that the SFO has yet to bring any prosecutions under the Act. In addition to the SFO, the City of London police is investigating around 25 individual cases of bribery. The SFO has 9 other open investigations relating to matters which pre-date the Act.
FCA Financial Crime Newsletter No. 1
The FCA has published Financial Crime Newsletter No. 1. The Newsletter gives an update of the FCA's work on issues relating to financial crime.
FCA anti-money laundering annual report 2012/13
The FCA has published its anti-money laundering annual report 2012/13. The report sets out the FCA's obligations relating to anti-money laundering, its approach to fulfilling those obligations, and the trends and emerging risks in money laundering that the FCA is seeing in the firms it regulates.
Formula 1 Boss served with indictment on bribery charge
It has been widely reported in the press that Formula 1 boss Bernie Ecclestone has been served with an indictment by a German court for alleged bribery. The charges are said to relate to the 2006 sale of a stake in Formula 1 by Bayern Landesbank. Mr Ecclestone has repeatedly denied all charges.
BIS consultation on company ownership and transparency
BIS has published a consultation on company ownership, transparency and trust. The consultation considers a range of proposals to enhance transparency of company ownership in the UK and increase trust in UK business. Published with this consultation is a speech by Vince Cable, the business secretary, on why trust matters in business. Responses should be submitted by 16 September 2013.