Clifford Chance

The lead UK, French and Swiss agencies responsible for anti-corruption enforcement have established an "International Anti-Corruption Prosecutorial Taskforce".

In a brief one-page accord published on 20 March, the UK Serious Fraud Office ("SFO"), the French Parquet Nationale Financier ("PNF") and the Swiss Office of the Attorney General have committed to further strengthening strategic and operational collaboration. The document is light on detail, but heavy on symbolism. It affirms their shared aim of closer cooperation through the creation of a "leaders' group focused on the exchange of insight and strategy" and a "working group, for the purpose of devising proposals for cooperation on cases". It also includes pledges on sharing of best practice and "seizing opportunities for operational collaboration".

At this stage, the establishment of the taskforce has not been accompanied by any plans to bring forward any new legislation or guidance on the ways or circumstances in which investigations or prosecutions will be commenced or run or in which negotiated settlements may be concluded. In particular, the announcement does not give any details of whether or how mechanisms by which authorities may conduct enquiries on behalf of each other or share information, including through mutual legal assistance channels, may be updated or refined to seek to accelerate or streamline these processes.

In reality, links between the agencies which have signed up to this agreement are already strong. Several of the most significant deferred prosecution agreements to be concluded in the UK (measured by monetary penalties imposed) have emerged from joint investigations by the SFO and PNF in particular. The three authorities continue to work together concurrently on a number of other substantial investigations.

The timing of the agreement is not accidental. It is a conspicuous attempt by European anti-corruption enforcement agencies to demonstrate unity of purpose at a time when investigations by their US counterparts have been paused or curtailed. The agreement records that other "like minded agencies involved in tackling international bribery and corruption" may be invited to join the task force in future. For the time being, it is a marker that the appetite of European governments and authorities for anti-bribery and corruption enforcement remains undiminished.