Serious Fraud Office Reprieved – For the Time Being

10 June 2011
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Key takeaways 

  • UK government plans to split the Serious Fraud Office’s (“SFO”) investigative and prosecuting arms have been abandoned. Theresa May, the Home Secretary, said on 8 June 2011 that the SFO will be “staying as it is,” while she denied reports that the SFO was on “12 months’ notice.” 
  • The future of the agency remains uncertain. It will have some relationship with the Economic Crime Command of the newly announced National Crime Agency ("NCA"), but the precise relationship between the SFO, the NCA and the other agencies dealing with economic crime is still to be determined.