False Accounting in UK Law
- Firsts For UK SFO With In Principle False Accounting DPA, And For FCA With Market Abuse Compensation, Against Tesco
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Firsts for UK SFO with in principle false accounting DPA, and for FCA with market abuse compensation, against Tesco
By Stuart Alford QC, Daniel Smith and Yasmina Borhani Following a two-year investigation, Tesco PLC has announced that its subsidiary Tesco Stores Limited (Tesco Ltd) had agreed in principle the te...
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Firsts for UK SFO with in principle false accounting DPA, and for FCA with market abuse compensation, against Tesco
Following a two-year investigation, Tesco PLC has announced that its subsidiary Tesco Stores Limited (Tesco Ltd) had agreed in principle the terms of a Deferred Prosecution Agreement (DPA) with the...
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FCA bans Macro Fund head following convictions
FCA has issued its final notice against Magnus Peterson following his convictions in January 2015 for fraud, forgery, false accounting and fraudulent trading. Mr Peterson is the former head of the ...... ... following his convictions in January 2015 for fraud, forgery, false accounting and fraudulent trading. Mr Peterson is the former head of the ... ...
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Did Tesco Act Too Hastily in Entering Into DPA Negotiations? (Serious Fraud Office v Tesco Stores Ltd)
What is the background to this DPA and why is it only now being published? On 29 October 2014, the SFO opened an investigation into Tesco Stores Ltd in relation to a suspected offence of false a...... ... into Tesco Stores Ltd in relation to a suspected offence of false accounting, contrary to section 17 of the Theft Act 1968 ... The SFO ... ...
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White-collar crimes: companies could soon be held accountable
Proposals for a new criminal finance bill will, if implemented, hold company boards criminally responsible for offences such as money-laundering and false accounting committed by their employees. T...... ... criminally responsible for offences such as money-laundering and false accounting committed by their employees. This is a move that is being ... ...
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Tesco trial collapse highlights dangers of an early deferred prosecution agreement
On 6th December 2018, the trial of two Tesco executives accused of false accounting collapsed. The judge concluded that the SFO's evidence, taken at its highest, was such that a jury could not prop...... On 6th December 2018, the trial of two Tesco executives accused of false accounting collapsed. The judge concluded that the SFO's evidence, taken ... ...
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Court approves first-of-its kind “Group” DPA: five key points
On 4 July 2019, the UK’s fifth Deferred Prosecution Agreement (DPA) was approved. The DPA is between the Serious Fraud Office (SFO) and Serco Geografix Limited (SGL), a subsidiary of Serco Group PL...... ... (SGL), a subsidiary of Serco Group PLC, and relates to fraud and false accounting offences. The offences relate to a scheme to dishonestly ... ...
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Every Little Helps with a DPA
Lord Justice Leveson approved Tesco Store Limited’s (“Tesco”) Deferred Prosecution Agreement (“DPA”) on 10 April 2017, making them the fourth company since November 2015 to enter into a DPA with th...... ... This draws a line under the SFO’s probe into allegations of false accounting by Tesco after they admitted to overstating their profits by ... ...
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SFO and Rolls-Royce agree to half billion pound DPA
Just over a year after the approval of the first ever Deferred Prosecution Agreement (DPA), Southwark Crown Court on 17 January 2017 approved a DPA proposed by the Serious Fraud Office (SFO) with U...... ... was produced, which included offences of conspiracy to corrupt, false accounting and failure to prevent bribery. Rolls-Royce has agreed to pay ... ...
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