Rolls-Royce has agreed to pay £671 million in penalties in response to several long-running bribery and corruption investigations. Regulators in the UK, the United States and Brazil investigated claims that Rolls-Royce had paid bribes to intermediaries to secure high-value export contracts in a number of overseas markets, including China, Brazil and Indonesia.
In a press announcement, Rolls-Royce stated that it had in principle reached a Deferred Prosecution Agreement (DPA) with the UK Serious Fraud Office (SFO). The proposed DPA is subject to final judicial approval, and the SFO and Rolls-Royce will appear at court on 17 January 2017 to seek this approval.
In addition to the agreement with the SFO, Rolls-Royce has also reached a DPA with the US Department of Justice (DOJ) and a Leniency Agreement with Brazil’s Ministério Público Federal (MPF).