11 Oct 2012 Innospec sentencing: SFO plea deal went too far – The sentencing remarks of Lord Justice Thomas in the recent case of Regina v Innospec Limited* raise questions as to the ability of the Serious Fraud Office (“SFO”), to live up to the promises in its July 2009 guidance on its approach to […]

EBA publishes final report on European banks’ recapitalisation04 Oct 2012 The European Banking Authority (EBA) has published its final report on the European bank recapitalisation exercise, which led to an increase in banks’ capital of more than €200 billion between December 2011 and June 2012. The report reveals that 27 initially undercapitalised banks strengthened their […]

SFO Investigating BP and contractor in Azerbaijan – 20 Sept 2012 The Telegraph reports that UK’s SFO is investigating BP for potential bribery in connection with engineering projects in Azerbaijan. According to the paper, the conduct at issue involves one of BP’s contractors, which self-reported the allegations to the SFO. The paper notes that the […]

Managing corruption risks – 5 lessons from recent developments 20 Sept 2012 Expansion and investment by energy companies into Asia, the Middle East and Africa involves both opportunity and risk, including corruption-related risks and potential enforcement activity. The risk of the latter is increasing with Australian and UK authorities seeking to step up their anti-bribery […]

The Telegraph reports that UK’s SFO is investigating BP for potential bribery in connection with engineering projects in Azerbaijan.  According to the paper, the conduct at issue involves one of BP’s contractors, which self-reported the allegations to the SFO.  The paper notes that the timing of the allegations will be key.  If events alleged took […]

The Telegraph reports that UK’s SFO is investigating BP for potential bribery in connection with engineering projects in Azerbaijan.  According to the paper, the conduct at issue involves one of BP’s contractors, which self-reported the allegations to the SFO.  The paper notes that the timing of the allegations will be key.  If events alleged took […]

Former Securency executive avoids jail in bribery-related case 11 Sep 2012 David John Ellery, former chief financial officer of Securency, has pleaded guilty to false accounting for his role in inaccurately recording overseas payments to an agent engaged by Securency to obtain banknote contracts in Malaysia. Justice Hollingworth, passing sentence in the Victoria Supreme Court, […]

David John Ellery, former chief financial officer of Securency, has pleaded guilty to false accounting for his role in inaccurately recording overseas payments to an agent engaged by Securency to obtain banknote contracts in Malaysia. Justice Hollingworth, passing sentence in the Victoria Supreme Court, said that Ellery had been fully aware of his misconduct as […]