DPA framework introduced post-Keppel Offshore & Marine resolution
In late 2017, a much-publicized US$422 million trilateral resolution to resolve anti-corruption charges was entered into by Keppel Offshore & Marine (KOM) with regulators in the United States, Brazil and Singapore. As part of the resolution, KOM entered into a deferred prosecution agreement (DPA) with the United States’ Department of Justice, while Singapore’s Corrupt Practices Investigation Bureau (CPIB) issued a conditional warning in lieu of prosecution.
The KOM resolution subsequently precipitated a landmark change to Singapore’s anti-corruption legislative framework
Singapore DPA framework – summary
In March 2018, the Singapore Parliament passed the Criminal Justice Reform Act, which introduced a DPA framework into Singapore’s Criminal Procedure Code. As in other jurisdictions, such as the United States and the United Kingdom, a Singapore DPA permits a company to enter into an agreement with an investigating or regulatory authority to defer or avoid prosecution on the condition that the company complies with specific terms in relation to its conduct and/or monitoring arrangements. If the company fails to observe the terms of the DPA, the public prosecutorial arm of the Attorney General’s Chambers may apply to the Singapore courts to prosecute the company.