New SFO director vows quicker cases, stumps for whistleblower payouts
By 
Kyle Brasseur2024-02-14T21:21:00
In his first public speech as head of the U.K. Serious Fraud Office (SFO), Nick Ephgrave made clear his law enforcement background will lead to significant changes in how the agency handles its cases.
“Under my leadership, the SFO will be bolder, more pragmatic, more proactive,” said Ephgrave on Tuesday in remarks delivered at the Royal United Services Institute in London. “… We need to be bolder and explore new ways of doing things.”
Ephgrave joined the SFO at the end of September, succeeding Lisa Osofsky. His predecessor’s tenure was marred by controversy, including the failure to secure the prosecutions of several large companies and their directors (e.g., Tesco, G4S) and follow established legal procedure in key cases (e.g., Serco, Unaoil).
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumU.K. whistleblower protections, awards needed to compensate ‘career suicide’
Discrimination against whistleblowers in the U.K. has risen to such a level that the government may need to actively pursue plans to afford greater legal protection, as well as introduce financial awards to compensate for their “career suicide.”
-
PremiumLexisNexis survey: Compliance costs soared for U.K. banks in 2023
Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
-
PremiumExperts express skepticism toward ‘challenging’ SFO strategy
The U.K. Serious Fraud Office last month published its five-year strategic plan outlining how it intends to improve information gathering and international cooperation, as well as its enforcement record.
More from Regulatory Enforcement
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
-
News BriefCash App parent to pay $40 million for alleged BSA/AML violations in New York
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.