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Peters & Peters secures 95% reduction in penalty for an engineering company in an HMRC export controls and sanctions investigation

Peters & Peters successfully acted for a major international engineering company and its overseas parent Group working primarily in the offshore oil and gas, renewable energy and telecoms market. The company was the subject of an investigation by HMRC for potential export controls and sanctions breaches in relation to the export of dual-use marine goods from the UK. Peters & Peters assisted the company in self-reporting and cooperating with HMRC and by conducting a thorough internal investigation into potential offences and its practices. Following a year-long investigation, HMRC agreed to offer the company a compound penalty and to reduce the fine by 95% below the usual starting point on account of its exceptional cooperation and mitigating circumstances. As a result of the compound agreement, no criminal proceedings were initiated against the company or its officers.

Peters & Peters also conducted a review and assessment of the company’s processes and practices and awareness of, and compliance with, UK export controls and sanctions. It also assisted the company in implementing a robust compliance programme, including drafting its export controls and sanctions policy and providing training.

Partners Nick Vamos and Maria Cronin and associates Eamon McCarthy-Keen and Craig Hogg were involved in this matter.

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Craig Hogg

Associate

+44 (0)20 7822 7786

Craig is an Associate in the Business Crime department.

Eamon McCarthy-Keen

Associate

+44 (0)20 7822 7733

Eamon has experience of advising and acting for individuals and corporates facing investigations and enforcement action brought by the Serious Fraud Office, the Crown Prosecution Service, the Financial Conduct Authority, and the Metropolitan Police in relation to a range of business crime and general crime matters.

Maria Cronin

Partner

+44 (0)20 7822 7737

Maria advises on international corruption and money laundering cases, and across the broad spectrum of financial crime.

Nick Vamos

Partner

+44 (0)20 7822 7776

Former Head of Special Crime and Head of Extradition at the Crown Prosecution Service, Nick has unique expertise and insight into complex, international, high-profile and sensitive criminal matters. He is described in Legal 500 as 'a lawyer of formidable intellect and excellent judgement.'