Deferred prosecution agreements in the UK and their application to Jersey businesses
Deferred prosecution agreements (DPAs) are agreements reached under judicial supervision between a prosecutor and a potential corporate defendant relating to an economic crime. The DPA allows a prosecution to be suspended for a defined period provided that the corporate defendant meets certain conditions. These conditions may include payment of a financial penalty, payment of compensation and commitments to assist with the future prosecution of individuals. DPAs are likely to become an important addition to the UK prosecutor’s toolkit in relation to corruption offences and other economic crimes.
DPAs have been available to US prosecutors for a number of years and have become increasingly common. Last month, for example, a US bank entered into a DPA with the Department of Justice, under which it committed to pay $1.7bn in penalties in recognition of Madoff-related anti-money laundering (AML) failures.
DPAs may be relevant to any Jersey company that is liable to prosecution under the UK’s Bribery Act 2010…
Click on the link below to read the rest of the Ogier briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
Funds update: AIFMD implementation under fire; European agreement on beneficial ownership registers; and more
Also: new Jersey accounts documentation and recent case law.
One of the key features of Jersey’s funds industry is the range of structures and regulatory approaches that can be used.