Rehabilitation for Corporates - An Introduction to Deferred Prosecution Agreements

Introduction

In the words of Lisa Osofsky, Director of the Serious Fraud Office, ‘DPAs are a valuable tool in the fight against serious fraud, bribery and corruption, capable of not only punishing corporates for criminality but also making sure the company rehabilitates and becomes a better corporate citizen.’

DPAs offer a suspension of prosecution in exchange for the company admitting to misconduct, paying a financial penalty and adhering to agreed conditions to secure future compliance.

There have been 9 DPAs so far, including one entered into on 30 October 2020 which required the company to pay almost £3m to the authorities.

It is clear that DPAs have a serious role to play in the future and it is important that corporates and their advisers are aware of their existence, as well as the strategic advantages and disadvantages of entering into one of them.

What You Will Learn

This webinar will cover the following:

The Principles

• Why DPAs were introduced
• What constitutes a DPA
• Strategy - positioning the company for a DPA

The Framework

• The statutory regime
• The new SFO guidance

The Process

• Confidentiality and information sharing
• Dealing with parallel investigations
• Navigating the negotiation process
• Finalising the Statement of Facts & Agreement
• Going to Court

Case Law

This webinar was recorded on 9th February 2021