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Algorithmic pricing raises concerns for EU competition law enforcement
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EU finalises updates to the Alternative Investment Fund Managers Directive
29 Oct 2012 | 10:01 am | 1 min. read
• An incentive for corporates to clear skeletons out of the closet The UK Government’s proposals for US-style Deferred Prosecution Agreements (DPAs) announced today should provide a powerful weapon in the fight against white collar crime, says Pinsent Masons, the international law firm.
DPAs act as a plea bargain, and will allow companies to publicly admit past wrong-doing while paying penalties, undertaking internal reforms, or agreeing to external monitoring, in exchange for immunity from prosecution (unless they breach the terms of the DPA).
Barry Vitou, Partner and white collar crime expert at Pinsent Masons comments: “DPAs offer a better way of dealing with corporate wrongdoing and for businesses to resolve their criminal exposure. The present choice, either to prosecute, or not, is deeply unsophisticated.”
“The potential upside for ethical corporations is clear - hand over the bad apples themselves and corporates could avoid multi-million pound fines and public trials – with all the extremely damaging publicity that brings with it.”
“If DPAs can be implemented properly then the SFO could benefit from a dividend as businesses clear the skeletons out of the closet and come forward about past crimes that they have uncovered.”
Barry Vitou continues: “The SFO is under pressure to perform but to do that it needs the tools to do the job properly – DPAs should go a long way to help.”
“DPAs also have the advantage of penalising companies, enabling swifter restitution and rehabilitation, and reducing the risks to innocent directors, employees, and stakeholders.”
The Ministry of Justice hopes that DPAs will incentivise self-reporting for two reasons:
Multinational law firm Pinsent Masons has hired Gillian Harrington to join the firm’s Aberdeen office as employment partner from 6 May.
Multinational law firm Pinsent Masons has hired corporate partner, Rachel Soundy, to join the firm’s Birmingham office.
Multinational law firm, Pinsent Masons LLP, has advised IGCF VI Euro, L.P. a sub-fund of Balbec Capital LP, a global alternative investment manager headquartered in the United States on its first European public securitisation in relation to the issuance of notes totalling EUR 392 million backed by a portfolio of reperforming Spanish mortgage loans, arranged by Goldman Sachs.
Multinational law firm Pinsent Masons has boosted its presence in Germany with a triple partner team and a legal director hire, recruiting two public sector and EU law partners and a corporate partner into its Dusseldorf office.
Multinational law firm Pinsent Masons has advised global management consultancy, Kearney, on its acquisition of TEAMS Design.
Multinational law firm Pinsent Masons has been appointed to Affinity Water’s legal panel.
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