Why?
The United Kingdom Bribery Act “went live” in July 2011 (approximately 14 years ago).
At the time, it was described by some as the “FCPA on steroids.”
Over the past 14 years, the U.S. (either DOJ/SEC or both) have resolved 12 Foreign Corrupt Practices Act enforcement actions against United Kingdom companies.
Those actions are as follows.
Glencore Pleads Guilty In The U.K.
In connection with the May Foreign Corrupt Practices Act enforcement action against Glencore, the U.K. Serious Fraud Office also announced that a Glencore entity was charged with seven counts of bribery in connection with its oil operations.
Yesterday, the SFO announced that:
“Glencore Energy (UK) Ltd has … been convicted on all charges of bribery brought against it by the Serious Fraud Office (SFO). At Southwark Crown Court, the company admitted to multiple counts of paying bribes to secure access to oil and generate illicit profit. The SFO’s investigation exposed that Glencore, via its employees and agents, paid bribes of over $28 million for preferential access to oil, including increased cargoes, valuable grades of oil and preferable dates of delivery. These actions were approved by the company across its oil operations in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea and South Sudan. Glencore will be sentenced on 2nd and 3rd November his year.”
FCPA Flash Podcast – A Conversation With Robin Lööf Regarding Ten Years Of The U.K. Bribery Act
The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor.
This FCPA Flash episode is a conversation with Robin Lööf (a barrister practicing at Fountain Court Chambers in London) regarding ten years of the U.K. Bribery Act. During the podcast, Lööf discusses the following topics: what is known and what is unknown after ten years of the Bribery Act; the impact of DPAs on Bribery Act enforcement including individual enforcement actions; and the long time periods often associated with Bribery Act enforcement.
U.K. Serious Fraud Office (Sort Of) Announces Two Bribery Act Enforcement Actions
Yesterday, the United Kingdom Serious Fraud Office announced two related Bribery Act enforcement actions.
Well sort of, because the SFO did not identify the companies at issue or the specifics of the enforcement actions due to “legal reasons.”
In pertinent part, the SFO release states:
Key Issues And Questions Arising From The UK Deferred Prosecution Agreement With Amec Foster Wheeler Energy
Previous posts here, here, here, here, and here focused on various aspects of the recent U.S. and U.K. enforcement action against Amec Foster Wheeler / John Wood Group.
This guest post by London-based Debevoise attorneys Karolos Seeger, Aisling Cowell, Thomas Jenkins, and Andrew Lee highlights key issues and questions arising from the UK DPA Amec Foster Wheeler Energy Limited (“AFWEL”).
Prosecution of individuals. All of the AFWEL DPA documents contain introductory wording stating that the Court made no findings of fact or assessment of the culpability of any individuals who may have been involved in the company’s wrongdoing. This is the first time a SFO DPA has included this, or equivalent, wording. This statement is likely due to the SFO’s failure to secure the convictions of any individuals who have been prosecuted in connection with previous DPAs, and is therefore intended to avoid prejudicing the position of those who may be prosecuted following the AFWEL DPA. Edis LJ noted documents indicating that senior employees and directors of AFWEL had engaged in corrupt activities, and that SFO decisions about whether to charge them would be made within three months.