Tom Bushnell and Olivia Dwan analyse lessons of FCA’s loss at Upper Tribunal in Law360

21 Aug 2023

The SFO’s failure to prove wrongdoing by individuals after entering into Deferred Prosecution Agreements with companies it is investigating is a well-acknowledged phenomenon for the agency. Now a similar issue could be afflicting the FCA.

Tom Bushnell and Olivia Dwan’s analysis, for Law360, of The Upper Tribunal’s ruling in Seiler, Whitestone and Raitzin vs FCA [2023] UKUT 00133 (TCC) sets out the dangers of the regulator too readily accepting a corporate’s account of disputed events.

Tom and Olivia argue the case proves a “simple reality” that behoves “law enforcement agencies [..] avoid being lured into a case theory that comes easily to a corporate, but that might not fairly reflect the underlying evidence.”

Their article is available to Law360 subscribers here, or as a download below.



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