Rolls-Royce reaches bribery penalty agreement
Rolls-Royce has reached “in principle” a deferred prosecution agreement (DPA) with the UK’s Serious Fraud Office (SFO) that will see the company paying financial penalties amounting to GBP671m (US$809m). The company has also reached a DPA with the US Department of Justice and a “leniency agreement” with Brazil’s Ministério Público Federal (MPF). The UK agreement, reached in a preliminary court ruling in London, will suspend prosecution action provided the company fulfils certain rulings, notably the payment of a financial penalty. It follows from incidents of bribery and corruption involving intermediaries in several overseas markets, about which the company passed on concerns to the SFO in 2012. The proposed DPA is subject to final judicial approval, which is scheduled to be given Jan 17. <br/>
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Rolls-Royce reaches bribery penalty agreement
Rolls-Royce has reached “in principle” a deferred prosecution agreement (DPA) with the UK’s Serious Fraud Office (SFO) that will see the company paying financial penalties amounting to GBP671m (US$809m). The company has also reached a DPA with the US Department of Justice and a “leniency agreement” with Brazil’s Ministério Público Federal (MPF). The UK agreement, reached in a preliminary court ruling in London, will suspend prosecution action provided the company fulfils certain rulings, notably the payment of a financial penalty. It follows from incidents of bribery and corruption involving intermediaries in several overseas markets, about which the company passed on concerns to the SFO in 2012. The proposed DPA is subject to final judicial approval, which is scheduled to be given Jan 17. <br/>
