metalblue
Well-Known Member
As someone who personally led the defence of major false accounting claims in civil proceedings, prosecuted a civil claim for negligence against an auditor and for over 5 years led the (successful) defence of a public company being investigated by the SFO, I'd say my speculation is well founded. I say that merely to establish my own credibility on these matters.
There is simply no other way to read section 1 of the PL charges. These matters rarely start with the SFO but they can progress to the SFO (not that I am saying that will happen).
Naturally, during cases evidence can come to light that attract the interest of the SFO (or others) or be escalated to them.
Investigations by regulatory bodies where their own powers are limited and where illegal activities are suspected, would normally be escalated to those who have greater powers of investigation and ability to seize documents etc. They will almost certainly have an obligation to do so where they lack the power.
At this stage there is no evidence to support criminal proceedings.