New SFO Pre-Investigation Powers Come Into Force

On 15 January 2024, legislation came into force that enhances the Serious Fraud Office's (SFO) compulsory information-gathering powers and streamlines the investigative process whilst imposing fresh obligations on companies on the receiving end of an SFO information request.

Section 211 of the Economic Crime and Corporate Transparency Act 2023 revises the powers available to the SFO in section 2A of the Criminal Justice Act 1987. Under the latter provision, the SFO may require an individual or corporation to provide documents or information, prior to the formal opening of an investigation, through the issue of a 'section 2 notice', to enable the SFO to determine whether to start an investigation where it appears to the SFO that relevant conduct may have taken place. Prior to the amendment, relevant conduct was limited to suspected international bribery and corruption. The new law expands these powers to all SFO cases, bringing fraud and domestic bribery within its