In this latest insight, BCL’s Michael Drury, Of Counsel and Partner Tom McNeill, examines the roles of the Serious Fraud Office (SFO), Financial Conduct Authority (FCA), Competition & Markets Authority (CMA), HMRC, Insolvency Service, and the Crown Prosecution Service (CPS). They explain the scope of enforcement powers, how to pursue both companies and individuals, and the growing impact of “failure to prevent” offences, including the new corporate offence of failure to prevent fraud coming into force on 1 September 2025.
The authorities have differing powers and roles in relation to investigating and prosecuting serious fraud, bribery, corruption, and tax offences, regulating financial markets, tackling anti-competitive practices, and addressing corporate misconduct. Importantly, these agencies can pursue both companies and individuals, with new “failure to prevent” offences broadening corporate liability.
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