For the past 4 years the Serious Fraud Office (SFO) has been engaged in its largest investigation to date, against Rolls-Royce (RR). The investigation related to allegations of bribery, corruption and concealment across a number of jurisdictions spanning 25 years.

The SFO has agreed a settlement, known as a deferred prosecutions agreement (DPA), which allow prosecutions to be avoided in exchange for the payment of a huge penalty. The SFO’s DPA with RR requires a payment of £671m, of which £13m consists of the SFO’s costs.

Mr David Green, director at the SFO comments “I think it shows very clearly that the SFO has teeth and that the SFO will not go away”.

Following the announcement of the DPA shares in RR rose by almost 4.5%. Leaving others such as Robert Barrington, executive director at Transparency International UK to question whether “justice has been served”.