International - Written by Barry & Richard on Sunday, June 12, 2011 10:38 - 1 Comment
SFO adds chair of City of London Police to the SFO Board
The City of London Police police the “square mile” or the financial centre of London and includes specialist financial fraud police officers.
The Telegraph reports Mr Duckworth saying: “I see my role as trying to ensure that the two principle players in tackling major economic crime, the SFO and City of London Police, continue the process of working closer together. What will be interesting is seeing how the relationship between these bodies progresses…”
In thisismoney he has reportedly provided assurance that: “This is not about a marriage, this is not a merger by the back door,…The SFO has certain tools and powers and the police have different tools and powers. We need to be sure we can bring the two together when we need to.”
Following the shelving of plans to break up the SFO by the Home Office last week the appointment of new blood will be a welcome change for the SFO – recent months have seen a number of key departures.
What the future holds for the SFO
Now that the future of the SFO is certain we anticipate that it will replace the key staff who have left in recent months.
We anticipate that the SFO will be keen to demonstrate that it is an effective regulator using the Bribery Act as a key weapon. We do not anticipate that July 2nd will see raids and arrests under the Bribery Act (though they may take place under existing legislation). However, we expect that the SFO will seek to enforce the Bribery Act and flex its muscles in the autumn later this year.
In the meantime, we have been told that the SFO is monitoring existing behaviour and will be looking to see if there is a behavioural change after July 1st.