UK: FSA Seeking Power to Offer Plea Bargains in Prosecutions

The UK’s FSA is seeking to obtain the power to offer “US-style plea bargains” to witnesses involved in major fraud cases.  Citing a report in the Observer, an article on the London Stock Exchange website stated yesterday that “under plans being put together by the FSA, individuals prepared to testify against the ringleaders of City frauds could receive immunity from prosecution.”  The power to offer plea bargains is reportedly included in the Coroners and Justice bill currently before parliament.

UK authorities believe that such a power would be an “important first step” towards increasing the prosecution of financial crime.  “I won’t be satisfied until this is on the statute books,” Treasury select committee chairman John McFall said.

Read the London Stock Exchange article