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Offences for which a DPA may be entered into—checklist

Offences for which a DPA may be entered into—checklist A deferred prosecution agreement (DPA) is an agreement between an organisation and a designated prosecutor to enable the latter to defer a prosecution by staying an indictment on specific terms. No proceedings in relation to the matters covered by the DPA may be instituted against the organisation while the DPA remains in force. A DPA therefore allows a company to continue without the threat of a lengthy criminal investigation and a costly prosecution hanging over it. For detailed information on DPAs, see Practice Notes: • Deferred prosecution agreements • DPA process • Terms and content of a DPA • DPAs in practice DPA’s are only available to organisations in respect of the offences specified under the Crime and Courts Act 2013, Sch 17 (CCA 2013). The checklist below, lists the offences for which a DPA may be entered into, including common law and statutory offences. In addition to the offences below, any offence that is ancillary to those listed below,...

Deferred Prosecution Agreements entered into to date—checklist

Deferred Prosecution Agreements entered into to date—checklist A Deferred Prosecution Agreement (DPA) is a voluntary agreement between an organisation and a designated prosecutor which enables the prosecutor to defer a criminal prosecution by staying an indictment on specific terms agreed with the organisation (see Practice Note: Deferred prosecution agreements). It is therefore a means of alternative disposal for criminal offences. It involves the: • prosecutor inviting the organisation to enter negotiations for a DPA • organisation agreeing to comply with a range of terms and conditions which are monitored • prosecutor agreeing to start but then halt criminal proceedings for the alleged offence • prosecutor applying to the court for approval of the DPA No proceedings in relation to the matters covered by the DPA may be instituted against the organisation while the DPA remains in force and is complied with. Should the organisation breach the terms of the DPA, the prosecutor may apply to the court to restart the original criminal prosecution. DPAs are only available to organisations in...

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False accounting and false statements under TA 1968

False accountingA person who, with a view to gain for themselves or another or with intent to cause loss to another, falsifies or conceals information required for an accounting purpose, knowing that the information is misleading, may commit an offence of false accounting. The offence can be committed in one of two ways:•by falsifying documents for an accounting purpose, or•using false or misleading documents for any purposeThe elements of the offence are made out when a person, with a view to gain for themselves or another or with intent to cause loss to another, either:•dishonestly destroys, defaces, conceals or falsifies any account, record or document required for any accounting purpose, or•produces or makes use of any account, record or document for any purpose which they know is or may be false, misleading or deceptive in a material wayA person who concurs in making an account, document or entry which is or may be misleading, false or deceptive in a material way or who omits a material item from an account...

Legislation tracker—Employment

Legislation tracker—Employment This Practice Note enables you to keep track of what's new, and upcoming changes in employment law. It tracks what employment legislation is coming up, and new laws which have come into force recently, ie over the past year. The legislation tracker is divided into four sections: • Forthcoming legislation • Private Members’ Bills • Legislation recently in force • Selected EU legislation Links to news reports providing full information on the relevant legislation are included where appropriate. For details of legislation which came into force in 2023, and Private Members’ Bills which fell at the end of the 2023–24 parliamentary session on 30 May 2024 when Parliament was dissolved ahead of the General Election on 4 July 2024, see: Archived—2023 Legislation tracker—Employment. For a summary of the key legal developments that are expected to impact employment lawyers during the course of this year and beyond, see Employment horizon scanner—dates for your diary. The Private Members’ Bills listed in the relevant section below reflect those introduced in the...

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Internal investigations policy

Internal investigations policy 1 Introduction 1.1 This policy sets out the responsibility of employees and management in relation to the investigation of fraud, bribery, facilitation of tax evasion and other business crime (together, ‘financial crime’), within [insert organisation name]. We will not tolerate any level of financial crime and are committed to protecting our assets and promoting honesty and integrity. 1.2 [Insert organisation name] is committed to conducting its business in a transparent, honest and fair manner. All staff and third parties working on behalf of [insert organisation name] are expected to adopt the highest standards of accountability in promoting an ethical culture. 1.3 Where financial crime is suspected, [insert organisation name] will commence an independent investigation of the allegations and remediate appropriately. This may include disciplinary procedures, dismissal and/or the provision of information to relevant criminal prosecution agencies. [Insert organisation name] will, in appropriate circumstances, seek to recover funds lost through financial crime committed or facilitated by employees. 1.4 Common scenarios that may trigger an investigation...

Corporate criminal liability—code of ethics

Corporate criminal liability—code of ethics 1 Introduction 1.1 [Insert organisation name] takes great pride in the way we conduct our business. Our Code of ethics embodies the standards and policies under which we operate. It applies to us all. Please take care to read the Code, understand it, and use it to guide you in your work. If you have any questions about the Code and its application, you should speak with [insert, eg your manager]. 1.2 [Insert organisation name] has a zero tolerance towards employees committing criminal acts. 1.3 From 26 December 2023, the Economic Crime and Corporate Transparency Act 2023 provides that where a senior manager, acting within the actual or apparent scope of their authority, commits a relevant offence, the organisation is also guilty of the offence. 2 Senior manager 2.1 A senior manager is someone who plays a significant role in: 2.1.1 making decisions about how the whole or a substantial part of the activities of the organisation are to be managed or organised, or 2.1.2...

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A deed of covenant has been executed in counterpart. One party has executed an old version of the document, the other has executed the final agreed version of the document. As a result the completed counterparts do not match. How can the incorrect counterpart be dealt with?

A deed of covenant has been executed in counterpart. One party has executed an old version of the document, the other has executed the final agreed version of the document. As a result the completed counterparts do not match. How can the incorrect counterpart be dealt with? Execution of a deed To execute a deed in counterpart, the parties must sign identical copies of the document and exchange them with each other. Combined, these counterparts are treated as a single document which takes effect as a deed. In this scenario, one party has made an error in executing its counterpart and as a result the deed is invalid. How this situation can be dealt with depends on the context of the scenario and the relationship between the parties. If the parties are in agreement that the second document is the final agreed version and a mistake has been made, it may be possible to rectify the situation by re-executing the deed. Re-execution The most straightforward solution is for the parties...

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Financial Services weekly highlights—28 November 2024

This week's edition of Financial Services weekly highlights includes APPG on Investment Fraud and Fairer Financial Services publishes report on FCA; ESMA publishes further guidance on exclusion criteria for the selection of CTPs; IOSCO issues consultation report on pre-hedging practices and regulatory recommendations; plus dates for your diary over the coming week.:

FCA initiates criminal proceedings against four for fraud related to failed credit union

The Financial Conduct Authority (FCA)  has started criminal proceedings against Terry Dodd, John Riley, Brian Flanagan, and Terry MacPherson, who have been charged with conspiracy to commit false accounting under section 1(1) of the Criminal Law Act 1977. In addition, Terry Dodd, John Riley and Brian Flanagan have been charged with fraudulently abusing their positions as directors of the Dial-A-Cab Credit Union  under sections 1(1) and 4 of the Fraud Act 2006. The FCA alleges that over a 6-year period between 1 September 2012 and 4 September 2018, the four individuals transferred funds out of the credit union for the benefit of themselves and their families.