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…

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