Overview

The sentencing remarks of Lord Justice Thomas in the recent case of Regina v Innospec Ltd raise questions as to the ability of the Serious Fraud Office (SFO) to live up to the promises outlined in its July 2009 guidance on its approach to dealing with overseas corruption.

The SFO Guidance was designed to encourage businesses to self-report wrongdoing in return for the potential benefit of a civil rather than criminal outcome and, importantly, the ability to work with the SFO to manage any negative publicity arising. The Judge’s sentencing remarks highlight how seriously the court views corruption of foreign officials and the severe penalties that the courts may impose when sentencing those guilty of such corruption.

In this briefing, we take a closer look at the implications.

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