delete The Crime and Courts Act 2013 (Deferred Prosecution Agreements) (Amendment of Specified Offences) Order 2018
This Order amends Schedule 17 of the Crime and Courts Act 2013 to expand the list of offences eligible for Deferred Prosecution Agreements (DPAs). It removes sub-paragraph (e) from paragraph 22 and inserts paragraph 26ZA, adding three Financial Services Act 2012 offences (sections 89, 90, 91 concerning misleading statements, misleading impressions, and benchmarks) to the list of specified offences for which DPAs may be negotiated.
Extends Deferred Prosecution Agreement mechanisms deeper into financial services, a sector already burdened by extensive regulation. DPAs function as a mechanism that can coerce corporate settlements regardless of actual guilt, creating regulatory uncertainty and chilling legitimate financial activity. The specified offences criminalise statements and impressions in financial contexts, adding to the compliance burden that pushes financial business to rival jurisdictions. Britons are not demonstrably better protected by this expansion—DPA availability primarily benefits prosecutors seeking flexible settlement tools, not the public. This represents another layer of regulatory reach into the City of London's affairs without clear countervailing benefit.