CitySolicitor


Corporate Crime & Corruption Committee


DEFERRED PROSECUTION AGREEMENTS


The Government are consulting on the introduction of Deferred Prosecution Agreements (DPAs).


A


of questions have been raised in the consultation document and the Corporate Crime and Corruption Committee are preparing a detailed submission. This will be available on the Society’s web site.


There has been a great deal of publicity about DPAs. They will be attractive for both prosecutors and corporate defendants. In appropriate cases there will be no lengthy and costly trial or conviction but substantial financial penalties and implementation of agreed reforms.


The Solicitor General and the Director of the Serious Fraud Office have made a number of presentations setting out


the Government’s number


happens if there is a dispute? Should initial hearings be in private or public and should any discounts be offered for early indications be offered?


DPAs do exist in the USA. The system there is different. There will be an obvious attraction for the boardroom. If there has been any dishonesty DPAs will give certainty, no conviction against


damage limitation. Inevitably a commercial decision may be taken in some circumstances. But what will then happen to individual directors?


The latest figures I have seen suggest that fraud and corruption costs the economy upwards of £50bn a year. DPAs will result in a considerable saving on investigations and trial and will be seen as a pragmatic approach. If they succeed they may well lead to the introduction of multi-national agreements in Courts for example in the US as well as in Britain.


proposals.


The Chairman of the City of London Law Society and me had a personal meeting with the Solicitor General at the Houses of Parliament; the new Director of the SFO has also attended a committee meeting to discuss the issues surrounding their introduction.


I am in favour of DPAs but it is unlikely to be plain sailing for the Government


or those who support them. Many still believe that those who commit a crime should face a trial and await the outcome. The Judiciary will also have to be persuaded as in the past they have been reticent in having anything to do with negotiated agreements. Also who will police DPAs and what


My view is that they should be available in appropriate circumstances but they will have to be introduced carefully with appropriate safeguards and policing. What they must not do is bring the Justice system into disrepute.


An interesting debate lies ahead.


Michael Caplan QC, Chairman, Kingsley Napley LLP


the company and provide


LAND LAW COMMITTEE – VACANCIES


The Land Law Committee has three vacancies to fill as a result of resignations of existing members and is therefore seeking applications from prospective new members. Applicants should practice in the area of property law, be enthusiastic about the opportunity to contribute to the work of the Committee and be able to commit enough time to participate in the work of the Committee, including attending its regular meetings in the City of London.


To apply, please contact the Chairman, Jackie Newstead, at Hogan Lovells International LLP (email: jackie.newstead@hoganlovells.com; Tel: (0)20 7296 5262) before 31 August 2012. When applying, please send a CV and give an indication of your main areas of interest in the work of the Committee.


6 • City Solicitor • Issue 78


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