House of Commons Releases Government Response To Eleventh Report of Session 2010-12 on Financial Crime and Development

On 30 November 2011 the International Development Committee published its Eleventh Report of Session 2010-12, Financial Crime and Development (HC 847). On 31 January 2012 the Government Responded to the Report. The Government’s response to the select committee's report  accepts the key recommendations made by the MPs that: (i) future settlement agreements made by the SFO, on the basis of plea bargaining in relation to financial crimes, should be drawn much more tightly than the agreement concluded with BAE Systems; (ii) DFID should be involved from an early stage in providing advice for any future reparation payments of this kind; and (iii) an external audit will be carried  out  to assess progress on the delivery of textbooks, teachers’ guides, syllabi and desks. The Government has also confirmed in a subsequent parliamentary response to committee member, Hugh Bayley MP, that it would seek to change the law later in this parliament to empower judges to enforce penalty payments, so as to prevent the sort of delays seen in the case between BAE and the SFO. 

Originally Published: 
31/01/2012