Baker McKenzie Breakfast Briefing on Corporate Liability for Failure to Prevent Fraud – 15 January 2025
**Baker McKenzie Breakfast Briefing on Corporate Liability for Failure to Prevent Fraud – 15 January 2025**
On 15 January 2025, global law firm Baker McKenzie will host a high-level Breakfast Briefing focused on the evolving legal landscape surrounding corporate liability for failure to prevent fraud. The event, to be held at the firm’s London office, is expected to attract senior legal counsel, compliance officers, and corporate executives from a wide range of industries.
### Background: A New Era of Corporate Accountability
The briefing comes in the wake of the UK’s Economic Crime and Corporate Transparency Act 2023, which introduced a new corporate offence: failure to prevent fraud. This legislation represents a significant shift in the UK’s approach to corporate criminal liability, expanding the scope of potential liability for companies whose employees or associated persons commit fraud for the benefit of the organisation.
Under the new law, companies can be held criminally liable if they fail to put in place reasonable procedures to prevent fraud, even if senior management was unaware of the misconduct. The legislation mirrors the structure of previous “failure to prevent” offences, such as those found in the Bribery Act 2010 and the Criminal Finances Act 2017.
### Key Topics to Be Covered
The Baker McKenzie Breakfast Briefing will provide attendees with a comprehensive overview of the new offence and practical guidance on how to navigate the associated risks. Key topics on the agenda include:
– **Overview of the New Offence**: An in-depth explanation of the failure to prevent fraud offence, including its scope, the definition of associated persons, and the types of fraudulent conduct covered.
– **Reasonable Procedures Defence**: Guidance on what constitutes “reasonable procedures” to prevent fraud, drawing on lessons learned from similar offences under existing legislation.
– **Implications for Corporate Governance**: Discussion on how the new offence impacts board-level responsibilities, risk management frameworks, and internal controls.
– **Enforcement Trends and Regulatory Expectations**: Insights into how UK enforcement agencies, including the Serious Fraud Office (SFO) and the Financial Conduct Authority (FCA), are likely to approach investigations and prosecutions under the new regime.
– **Practical Steps for Compliance**: Recommendations for conducting risk assessments, updating compliance programmes, training staff, and documenting preventive measures.
### Expert Speakers
The session will feature presentations from Baker McKenzie’s leading white-collar crime and compliance lawyers, including:
– **Charles Thomson**, Partner, Dispute Resolution – A recognised authority on corporate investigations and enforcement actions.
– **Joanna Ludlam**, Partner, Compliance & Investigations – Co-chair of the firm’s Global Compliance & Investigations Group.
– **Ben Smith**, Senior Associate – Specialising in economic crime and regulatory compliance.
Guest speakers from the regulatory and corporate sectors may also be invited to share their perspectives on the practical challenges of implementing effective anti-fraud measures.
### Who Should Attend
This event is designed for:
– General Counsel and in-house legal teams
– Chief Compliance Officers and compliance professionals
– Risk and audit committee members
– Corporate executives and board directors
– Professionals in financial services, healthcare, technology, and other regulated industries
### Registration and Logistics
– **Date**: Wednesday, 15 January 2025
– **Time**: 8:00 AM – 10:00 AM GMT
– **Location**: Baker McKenzie, 100 New Bridge Street, London EC4V 6JA
– **Format**: In-person, with a light breakfast served
– **RSVP**: Interested participants can register via the Baker McKenzie events portal or contact the events team at [email protected].
### Conclusion
As regulatory scrutiny intensifies and the legal framework for corporate liability continues to evolve, organisations must proactively assess and strengthen their anti-fraud controls. Baker McKenzie’s Breakfast Briefing offers a timely opportunity for business leaders to gain critical insights and prepare for the challenges ahead. With expert analysis and practical advice, the event promises to be an essential resource for companies seeking to mitigate legal risk and uphold high standards of corporate integrity.