On 6 August 2019, the UK Serious Fraud Office
(“SFO”) published its much-awaited guidance on
corporate co-operation (the “Guidance”). The Guidance
is relevant to corporates considering whether or not to self-report
potential wrongdoing to the SFO, and whether to co-operate with the
SFO’s investigation.
Co-operation is a relevant consideration in the SFO's
charging decisions, including whether or not it determines that a
corporate should be invited to enter into Deferred Prosecution
Agreement (“DPA”) negotiations. Genuine proactive
co-operation is a public interest factor tending against criminal
prosecution, and it is often on this basis that, upon learning of
wrongdoing, a corporate will choose to co-operate with the SFO.
However, the Guidance makes clear that co-operation is not just a
case of complying with the law; rather, it means “providing
assistance to the SFO that goes above and beyond what the law
requires”. Furthermore, the Guidance states that
