Neil Swift has been quoted in the Law Society Gazette responding to the Serious Fraud Office’s (SFO) newly released guidance aimed at corporations and businesses on how to report suspected fraud or corruption.

The guidance, a first for the SFO, sets out clear expectations for how corporates can engage with the agency when concerns arise. It underscores the benefits of early self-reporting and meaningful cooperation, including the potential for a Deferred Prosecution Agreement (DPA) in lieu of prosecution, even for companies that have not self-reported, provided their cooperation is deemed ‘exemplary’.

While the guidance represents a proactive step in encouraging corporate transparency, Neil Swift highlights that an invitation to negotiate a DPA is not a guarantee that one will be secured. Companies and their advisers must still carefully weigh the prospects, considering the factors laid out in the DPA Code of Practice and expanded upon in the guidance.

This guidance signals a broader effort by the SFO to increase enforcement of the failure to prevent fraud offence and marks a significant development in the UK’s corporate criminal enforcement landscape.