Basic Search  |  Summaries  |  Advanced SearchPenalty: £510,250,000
Year: 2017
Date: 17 January, 2017
Offence Group: competition-related offences
Offence Type: bribery
Violation Description: The agreement with the company followed the SFO's four-year investigation into bribery and corruption. The indictment covered 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery. The conduct spanned three decades and involved Rolls-Royce's Civil Aerospace and Defence Aerospace businesses and its former Energy business and related to the sale of aero engines, energy systems and related services. The conduct covered by the UK DPA took place across seven jurisdictions: Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia. The Judge ruled in a public hearing at the Royal Courts of Justice that the DPA's terms were fair, reasonable and proportionate and that the DPA was in the interests of justice. He also agreed that the total sum in the UK settlement (£497.25m plus interest and the SFO's costs of £13m) reflected the gravity of the conduct, the full cooperation of Rolls-Royce PLC in the investigation, and the programme of corporate reform and compliance put in place by new leadership at the top of the company. The resolution is the highest ever enforcement action against company in the UK for criminal conduct.
Action Type: agency action
Settlement Type: deferred prosecution agreement
Agency: Serious Fraud Office
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: aerospace and military contracting
Specific Industry of Parent: aerospace & military contracting
Source of Data: (click here)