Corporate Governance Conference 2018: Getting it right in time of change

Martin Evans QC will be speaking at the 2018 Corporate Governance Conference on the 26th June.

"Theresa May stood on the doorstep of 10 Downing Street on her first day as Prime Minister, she announced that she wanted big businesses to be held to account: the latest corporate governance proposals seek to reform executive pay, strengthen the employee, customer and supplier voice, and tackle the corporate governance of large privately-held businesses. These proposals are in the process of being implemented including a ‘shorter and sharper’ Code of Corporate Governance being finalised by the Financial Reporting Council for 2019."

The conference brings together experts, academics and practitioners to provide practical insight into the key corporate governance events for 2018.

The conference will help delegates to:

• Identify trends and developments in corporate governance.

• Understand the interplay between governance and corporate success – and what to do when things go wrong.

• Share the highs and lows of a range of GDPR compliance projects.

• Get up to speed on new reporting obligations, including gender pay gap.

• Hear the latest on government-proposed corporate governance reform.

• Get the lowdown on corporate crime, including the offence of failure to prevent the facilitation of tax evasion.

Martin Evans QC is speaking on the subject of:

Trends in corporate crime

"From the introduction of Deferred Prosecution Agreements in 2014 to the new corporate crime of ‘failure to prevent the facilitation of tax evasion’ introduced last year, much has changed in the world of corporate crime in recent years. The focus is on companies putting in place adequate policies, procedures and processes to avail themselves of a defence. This session will consider the latest trends, including:

•Whither ‘directing mind and will’?

•What is a ‘failure to prevent’ offence? What does it mean?

•Deferred Prosecution Agreements

•Investigations, documents and privilege

•Litigation Privilege over documents prepared as part of an internal investigation: the Bilta and ENRC decisions considered

•Privilege against self-incrimination and pre-existing material: River East"

See http://www.clt.co.uk/media/974308/cf9731.pdf for the full conference schedule and booking details.

Fiona Jackson acts for SFO in successful civil recovery order to recover £4.4m from corrupt diplomats in Chad Oil share deal.

Following a successful application in the High Court, the SFO is set to recover millions lost in a corruption case which saw Griffiths Energy bribe diplomats in the United States and Canada.

Securing exclusive contracts with corrupt deals, Griffiths Energy bribed Chadian diplomats with discounted shares deals and ‘consultancy fees’ using a front company ‘Chad Oil’ – which was set up days before agreements were signed.

‘Chad Oil’ was used by senior diplomats at the Chadian Embassy to the United States to facilitate a deal which saw the wife of the former Deputy Chief, Mrs Ikram Saleh purchase 800,000 shares at less than 0.001$CAD each, before selling them on for a considerable profit.

Griffiths later self-reported these and other transactions as bribes intended to illegally secure commercial interests in Chad and pleaded guilty to corruption charges brought by the Canadian authorities.

Following the takeover by Griffiths Energy by a UK corporation and share sale via a UK broker, the corrupt proceeds entered the UK’s jurisdiction and the SFO began civil recovery proceedings to secure the £4.4m share sale profits from Ikram Saleh.

The matter was brought to a three-day trial at the High Court which today granted the SFO’s order to the value of £4.4m, the first time money has been returned overseas in a civil recovery case.

Fiona Jackson has been involved for some years and this marks the most recent success for the SFO with their pursuit of criminal funds via civil recovery.   

Minister of State for International Development, Harriett Baldwin said:

“The UK Government has a zero tolerance approach to corruption and today’s landmark judgment means this money can be used to help the people of Chad.

“DFID is already working in Chad, investing in humanitarian programmes and supporting safety nets to tackle poverty. We will now be working on the details of how these recovered funds can best help one of the poorest countries in the world.”

If you would like to find out more about this case or instruct Fiona Jackson please contact her Practice Directors via email or on 0207 440 9950.