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U.K. Outlines Plan to Use Deferred Prosecution Agreements to Settle Financial Crime Allegations
By Brian Monroe
printThe United Kingdom Thursday detailed a plan to settle alleged corporate violations of criminal laws without pursuing prosecutions-a strategy used by U.S. officials to exact billions from financial institutions. In a draft proposal, the Serious Fraud Office (SFO) said it would seek to enter into deferred prosecution agreements (DPAs) with companies believed to have committed fraud, bribery and other financial crimes. British officials should pursue DPAs only when there are "reasonable grounds" to believe that a conviction is winnable but averting prosecution is in the public's best interest, the agency said. The proposal calls on officials that are considering the...
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