February 24, 2021
McGuireWoods partner Francesca Titus commented in two Compliance Week articles discussing corporate accountability laws in the UK and Europe.
In a Feb. 4, 2021, article titled “Europe handcuffed by current corporate liability laws, is change coming? ” Titus cautioned that the identification principle targeting heads of small and family-run businesses has become increasingly “outdated” in a global economy.
“Now that criminal activity is often cross-border and involves multinationals with complex structures, the identification principle is not fit for modern corporate practices,” she said.
In a Feb. 8, 2021, article about a recent UK Supreme Court ruling that inhibits the Serious Fraud Office’s ability to obtain evidence of wrongdoing from foreign companies, Titus discussed the SFO’s track record for leveraging Section 2 of the Criminal Justice Act 1987.
“Companies already have to jump through hoops to even be considered for a deferred prosecution agreement, which entails turning over all their evidence so the SFO can go after individuals. If this judgement has taught large companies anything, it is to dig in and fight,” Titus said in the article, titled “U.K.’s SFO slapped down over attempts to flout jurisdiction rules.”