Serious Fraud Office to be axed under Conservatives

Party election manifesto

clock • 1 min read

The Serious Fraud Office (SFO) is set to be abolished under plans published in the Conservative Party election manifesto unveiled by Theresa May on Thursday.

The Prime Minister said she would fold the organisation into the National Crime Agency (NCA), which fights organised crime, if she wins the general election. The pledge follows a string of clashes between the SFO and May. As Home Secretary in David Cameron's government she had already argued it should be part of the NCA, This is Money reported. The move dismayed lawyers and anti-corruption groups. Kingsley Napley partner Stephen Parkinson told the paper it was "dreadful news". He said: "I have two main concerns. Firstly, that there will be organisational paralysis; people will leav...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Simpler advice rules should not mean simpler client understanding

Simpler advice rules should not mean simpler client understanding

The direction of travel is clear

Elly Dowding and Lee Coates
clock 17 July 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 14 July 2026 • 1 min read
The Mills Review: AI innovation must be matched by AI governance

The Mills Review: AI innovation must be matched by AI governance

As AI becomes embedded in FS governance can no longer be treated as an afterthought

Chris Davies
clock 13 July 2026 • 4 min read