Latest News
Jeremy Summers comments on the implications for pension schemes following a landmark SFO corruption case
17 January 2012
The full article can be viewed here.
Following the landmark corruption case, in which the SFO saw the government department of Mabey Engineering Holding recuperate £131,201 from shareholders, institutional investors may now take a keener interest in anti-corruption policies to ensure they are not targets of future SFO action.
Russell Jones & Walker Business Crime & Regulation team partner Jeremy Summers believes the case outcome has clear implications for pension funds.
"In this case it was only £130,000 which isn't a huge sum of money in the corporate sphere but if you took a large contract which is worth multi-millions of pounds that had been awarded as a result of some corrupt arrangements and then the prosecutors took the same approach and were rewarded the recovery of those millions, then that is going to come out of company funds and ultimately that may come out of or at the very least reduce the pot available to a pension fund," he explained.
The full article can be viewed here.
Comments (0)