Election 2010: Tories to scrap Serious Fraud Office

clock

George Osborne says a Tory Government would create an Economic Crime Agency to tackle white-collar crime and bin institutions like the SFO.

The agency would also take over the "work of investigation and prosecuting serious crime" done by the Fraud Prosecution Service, the Revenue & Customs Division and the Office of Fair Trading (OFT), the shadow chancellor told The Sunday Telegraph. Under Tory plans for financial reform, companies would be made liable for the actions of rogue traders and economic fraudsters on their payroll. At present, under laws dating back to the 19th century, companies can claim innocence of crimes carried out by individual employees. Osborne told The Sunday Telegraph: "We are very, v...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Former Schroders head of UK James Rainbow joins SJP

Former Schroders head of UK James Rainbow joins SJP

Rainbow joined Schroders in 2007

Sorin Dojan
clock 31 March 2025 • 1 min read
FSCS deposit protection limit could rise to £110,000

FSCS deposit protection limit could rise to £110,000

Proposal would take effect from December 2025 if approved

Sahar Nazir
clock 31 March 2025 • 2 min read
PDG responds to FCA Pure Protection Market Study update

PDG responds to FCA Pure Protection Market Study update

Expanded terms of reference

Cameron Roberts
clock 31 March 2025 • 2 min read