DCSIMG

Rolls-Royce in bribery talks with SFO

  • by GARETH MACKIE
 

Aerospace engines maker Rolls-Royce is in talks with the Serious Fraud Office (SFO) after investigators asked for information about alleged bribery and corruption in China and Indonesia.

The group said it was co-operating with the SFO after its own investigations identified “matters of concern” involving intermediaries in overseas markets.

While it said it was too early to predict the outcome of the SFO’s investigation, Rolls-Royce warned that individuals and the company itself could face prosecution.

Rolls-Royce said it had “significantly strengthened” its compliance procedures in recent years, introducing a new ethics code and an intermediaries policy, and will appoint an independent senior figure to lead a review of current procedures and report to the board’s ethics committee.

Chief executive John Rishton said: “I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance.

“This is a company with exceptional prospects and I will not accept any behaviour that undermines its future success.”

Shares in the group fell around 4 per cent in early trading today.

 

Comments

 
 

Back to the top of the page

 

X scottish independence image

Keep up-to-date with all the latest Referendum news