The UK Serious Fraud Office (SFO) has updated its guidance for companies considering self-reporting suspected fraud, bribery or corruption. Under the change, a company’s legal representatives can contact the SFO’s Director of Legal Services to discuss a potential report before submitting one formally.

The guidance also clarifies that companies should use a proportionate, risk-based approach to identify the full extent of potential offending. It says the six-month period for concluding deferred prosecution agreement negotiations begins when an invitation to negotiate is accepted. The SFO says companies that report promptly and cooperate fully will, barring exceptional circumstances, be invited to negotiate a deferred prosecution agreement.

Why it matters

  • Legal representatives have a designated route for preliminary discussions with the SFO before a formal self-report.
  • The guidance describes both the expected scope of corporate inquiries and the timing of DPA negotiations.