Hong Kong Deferred Prosecution Agreement
With respect to conspiracy to commit all other offences, Section 159A of the Crimes Ordinance codifies the general rule of the common law, which limits extraterritorial jurisdiction in conspiracy cases, and provides that conspiracies committed in Hong Kong may be tried only if the agreement is intended to commit material offences that may be committed in Hong Kong. Conspiracies committed abroad to commit material crimes in Hong Kong would be acceptable in Hong Kong even before committing acts in Hong Kong to promote conspiracies. However, conspiracies in Hong Kong to commit crimes abroad would not be acceptable in Hong Kong. These conditions may include different combinations of an agreed admission of facts; the deposit of funds related to the offence; payment of a fine or penalty, or both; implementation of an effective compliance program to prevent and detect future violations; the imposition of multi-year monitoring (or legal correspondence in the Organization`s home country); impose self-monitoring and reporting to the regulatory authority; cooperate fully with regulatory authorities in ongoing investigations in this area; and not to commit a recurrence for the entire duration or to violate the conditions of the CCA. DPAs can be used to deal with charges of fraud, corruption, money laundering, violation of sanctions and export control legislation, as well as other economic or economic crimes. Under the SFO, the SFC has the authority to request criminal prosecution from the DOJ and, in practice, the SFC refers all cases of market misconduct to the DOJ for consultation. The maximum penalties for a person convicted of market crimes are 10 years in prison and a $10 million fine. 12 The authorities continue to investigate the involvement of individuals in Airbus` alleged misconduct and the issue of individual prosecution remains. “Airbus Fraud Investigation `remains active` as penalty details emerge,” David Kaminski-Morrow, 31.
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