UK Calls for “Tighter” SFO Settlement Agreements Following “Foot Dragging”

Earlier this week, the U.K.’s International Development Committee (IDC) released a report requesting that the Serious Fraud Office (SFO) write future settlement agreements “more tightly” so that companies follow them more closely. The report also asked the SFO to release an annual report reviewing their plan to combat international corruption. The report is the result of a hearing held earlier this year regarding failures by BAE Systems (BAE) to adhere to its corruption settlement. The report included harsh criticism for the way BAE has handled the implementation of its agreement and asked that future settlements explicitly state what efforts a company is required to undertake and by what time.
Wall Street Journal: UK Report Calls For Tight SFO Settlements/Anti-Corruption Reports. (29 November 2011)
(Source: Wall Street Journal)