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 landscape of corporate liability, specifically addressing the implications of the new “Failure to Prevent Fraud” offence introduced under the UK Economic Crime and Corporate Transparency Act 2023. The event will take place at the firm’s London office and is expected to draw senior legal, compliance, and risk professionals from a wide range of industries.
### Background: A New Era of Corporate Accountability
The Economic Crime and Corporate Transparency Act 2023 marks a significant shift in the UK’s approach to tackling corporate fraud. Among its most notable provisions is the introduction of a new corporate offence: failure to prevent fraud. This offence is modeled on similar legislation such as the Bribery Act 2010 and the Criminal Finances Act 2017, which introduced corporate liability for failure to prevent bribery and the facilitation of tax evasion, respectively.
Under the new law, large organisations can be held criminally liable if they fail to prevent fraud committed by employees, agents, or other associated persons for the benefit of the organisation. The only defence available is to demonstrate that the company had “reasonable procedures” in place to prevent such fraud.
### Key Topics to Be Covered
The Baker McKenzie Breakfast Briefing will provide attendees with a comprehensive overview of the new offence and its implications for corporate governance and compliance. Key topics include:
– **Understanding the Scope of the Offence**: Legal experts will explain what constitutes “fraud” under the new legislation, who qualifies as an “associated person,” and which organisations fall within the scope of the law.
– **Reasonable Procedures Defence**: The session will explore what constitutes “reasonable procedures” and how companies can design and implement effective anti-fraud frameworks to mitigate risk and establish a viable defence.
– **Regulatory Expectations and Enforcement Trends**: Speakers will examine how UK enforcement agencies, such as the Serious Fraud Office (SFO) and the Financial Conduct Authority (FCA), are likely to interpret and enforce the new offence.
– **Practical Steps for Compliance**: Attendees will receive practical guidance on conducting risk assessments, updating internal policies, training staff, and monitoring third-party relationships.
– **Cross-Border Considerations**: Given the global nature of many businesses, the briefing will also address how the UK’s new fraud offence interacts with international anti-fraud and anti-corruption regimes.
### Speakers and Panelists
The event will feature a panel of distinguished speakers, including:
– **Jo Rickard**, Partner and Head of Baker McKenzie’s Corporate Crime and Investigations practice in London
– **Charles Thomson**, Partner, specialising in financial crime compliance and investigations
– **Guest Speaker from the Serious Fraud Office (TBC)**, offering insights into enforcement priorities
– **In-House Counsel Panel**, featuring legal and compliance leaders from FTSE 100 companies sharing their perspectives on preparing for the new regime
### Who Should Attend
The briefing is tailored for:
– General Counsel and Legal Directors
– Chief Compliance Officers
– Heads of Risk and Internal Audit
– Corporate Secretaries
– Board Members and Non-Executive Directors
### Registration and Logistics
– **Date**: Wednesday, 15 January 2025
– **Time**: 8:00 AM – 10:30 AM (GMT)
– **Location**: Baker McKenzie, 100 New Bridge Street, London EC4V 6JA
– **Format**: In-person with a light breakfast served; virtual attendance option available
– **Registration**: Open via the Baker McKenzie website or by invitation
### Conclusion
As the UK government intensifies its efforts to combat economic crime, the introduction of the failure to prevent fraud offence represents a pivotal development in corporate criminal liability. Baker McKenzie’s Breakfast Briefing offers a timely opportunity for organisations to understand the new legal landscape, benchmark their compliance efforts, and prepare for the challenges ahead.
For more information or to register, visit [www.bakermckenzie.com](https://www.bakermckenzie.com).