SFO secures £15m bribery settlement with Ultra Electronics
→Ultra must report anti-bribery reforms to the SFO for three years
Change
SFO secured a £15m deferred prosecution settlement with Ultra Electronics for failure to prevent bribery.
Why it matters
Ultra must pay penalties and investigation costs tied to Algeria and Oman contracts. It must reform anti-bribery controls and submit annual SFO reports.
Implications
- → Ultra compliance teams must submit yearly SFO reports for three years — missed reporting can breach settlement obligations.
- → Ultra control owners must evidence anti-bribery remediation in agent-led contracting — weak controls can fail SFO oversight.
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Source
View on The Guardian