In our last Bribery Act (the "Act") update (Shipping
E-Brief July 2013), we outlined how Deferred Prosecution Agreements
("DPAs") are expected to work in the UK, and summarised
the draft sentencing guidelines for fraud, bribery and money
laundering by corporate offenders (the "Guidelines"),
which were first published by the Sentencing Council of England and
Wales in June 2013. Following a period of consultation, the
Guidelines have now been finalised and will apply to corporate
entities convicted of an offence and sentenced on or after 1
October 2014. DPAs will be available in relation to offences
committed by corporates from 24 February 2014.
These developments are part of the UK's ongoing
anti-corruption initiatives and should be seen in the context of
the UK prosecuting authorities' expressed intention of clamping
down on economic crime. Fraud is said to cost the UK £73
billion each year. The Director of the Serious Fraud Office
("SFO"), David Green, has already
