UK SFO updates Corporate Cooperation Guidance, allowing companies to discuss potential self-reports of fraud, bribery and corruption directly with senior legal counsel

The revised guidance clarifies that companies should take a proportionate, risk-based approach to identifying the full extent of suspected criminal conduct. Companies that self-report promptly and cooperate fully will generally be invited to negotiate a Deferred Prosecution Agreement (DPA), unless exceptional circumstances apply. The SFO also confirms that, wherever possible, DPA negotiations should conclude within six months of the company…