Deferred prosecution agreements

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Corporate Crime weekly highlights—21 November 2024

This week's edition of Corporate Crime weekly highlights includes analysis of the recently released statutory guidance on the failure to prevent fraud offence and the procedures that companies are expected to implement in order to comply, of the UK and EU approaches to sanctions enforcement which shows that the UK is making progress when it comes to effective sanctions enforcement and of the ASA’s use of AI to monitor adverts to proactively pursue so-called ‘greenwashing’ claims. Also included is news of upcoming changes to sanctions legislation, including the expansion of reporting obligations to cover additional sectors, of the public call for evidence to support the work of the independent sentencing review and of a company being fined £1.28m after an employee was crushed to death by a lorry. All this, and more, in this week’s Corporate Crime highlights.

HM Treasury issues advisory on Oil Price Cap evasion tactics

HM Treasury (HMT)and the Office of Financial Sanctions Implementation (OFSI) have released an advisory concerning the Oil Price Cap (OPC) regime. The guidance specifically addresses evasion strategies involving the manipulation of product origin through the use of fabricated and falsified Certificates of Origin (CO). This advisory aims to alert relevant parties to the risks associated with such practices and to enhance compliance efforts within the oil trade sector.

All eyes on the SFO after LC&F Ponzi scheme ruling

Law360, London: Damning findings in civil litigation that the directors of London Capital & Finance (LC&F) ran the bonds company as a Ponzi scheme could foreshadow the Serious Fraud Office's (SFO) parallel criminal investigation into the failed £237m investment business, lawyers say.

New offence expands liability for corporate enviro fraud

Law360, London: The legal tools to hold companies accountable for environmental issues are expanding at an accelerating pace.

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Deferred prosecution agreements

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Scotland—the process for applying for sequestration

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Micklefield clauses

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Late payment penalties—inheritance tax

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