Inspector calls checklist

United KingdomScotland

An Inspector Calls – main powers of regulatory authorities in carrying out unexpected inspections

Whether it is bribery, cartels or breach of health and safety legislation, UK corporates now face an array of prosecutorial and regulatory agencies, able to act independently or together when undertaking investigations with criminal or quasi-criminal implications for corporates and their staff. The last two years have been testament to this shift. We have seen the SFO work closely with the FCA during the Libor investigations, and more recently following criminal proceedings being brought against eleven individuals who are due to stand trial in 2017 for their part in manipulating EURIBOR. Away from the financial sector, the retail industry has also recently been subject to similar multi-agency investigations, spearheaded by the SFO. New laws are being introduced that will provide these agencies with even wider investigation powers in respect of a growing set of criminal offences designed to make it easier to prosecute corporates; the proposed corporate offence of failure to prevent the facilitation of tax evasion in the Criminal Finances Bill being one example.

The powers available to different agencies to conduct search and seizure operations or to interview individuals vary depending on the nature of the issue. It is therefore vital when the authorities arrive at Reception, that staff understand what they should do, how they should respond and who to contact within the business. Our new Inspector Calls tool summarises, by reference to the key questions clients want to know, the powers of the main authorities who can conduct investigations into corporate criminality. For a PDF copy, please click here.