Tesco has reached a potential deferred prosecution agreement (DPA) with respect to overstating its profits in 2014 by an estimated £326m.
The use of a DPA is a mechanism the Serious Fraud Office has used with a series of businesses, including Rolls Royce, since it was introduced in 2014. This mechanisam avoids criminal conviction and puts the offending business on probation.
If your business needs guidance in respect of FCA regulation compliance, please contact Moore Blatch on 023 8071 8065.
The SFO said Tesco had co-operated with the investigation and had undergone an "extensive" period of change.