Oral Answers to Questions

Luciana Berger Excerpts

Tuesday 20th December 2011 Commons Chamber

[The Attorney-General]

Deferred prosecution arrangements can apply only in the case of corporate bodies.

[Luciana Berger (Liverpool, Wavertree) (Lab/Co-op)]

3. What discussions he has had with the director of the Serious Fraud Office on the need for further legislation to address economic crime.

[The Attorney-General (Mr Dominic Grieve)]

I hold regular meetings with the director of the Serious Fraud Office where we discuss all aspects of the SFO’s work, including the need for further legislation to address economic crime, such as on deferred prosecution agreements.

[Luciana Berger]

I wonder whether the Attorney-General has read the speech given by the director of the Serious Fraud Office, Richard Alderman, to University college London? In that speech he said:

“One suggestion that I have is whether the time has come for us to recognise that recklessly running a financial institution may be a ground for criminal liability.”?

Does the Attorney-General agree with him?

[The Attorney-General]

As the hon. Lady will be aware, under the Bribery Act 2010, for example, the reckless running of a financial institution can already constitute a criminal offence. Whether that should be extended further in respect of corporations is a matter that the Government would have to consider carefully, as would the House.