Corruption Watch UK Urges Financial Conduct Authority to Investigate Employees Named in Standard Bank DPA

Corruption Watch UK Urges Financial Conduct Authority to Investigate Employees Named in Standard Bank DPA

Corruption Watch UK has written to Mark Steward, the Director of Enforcement at the UK’s Financial Conduct Authority (FCA), urging the FCA to open an investigation into individuals currently or previously employed at Standard Bank PLC relating to activities described by the company’s Deferred Prosecution Agreement (DPA). Standard Bank PLC entered into a DPA with the Serious Fraud Office (SFO), which was approved by a senior judge on the 30th of November 2015. This is the first time the UK has made use of DPAs to resolve a corruption case after the publication of the DPA Code of Practice in 2014.

The letter can be viewed here