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

FCA social media crackdown: Three 'finfluencers' make first court appearance

FCA social media crackdown: Three 'finfluencers' make first court appearance

Case brought as part of FCA-led global crackdown on illegal promotions

Jenna Brown
clock 10 September 2025 • 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 03 September 2025 • 1 min read
Targeted support regime welcome but rules need 'adjustments'

Targeted support regime welcome but rules need 'adjustments'

Advisers, providers and trade bodies call for clarity as consultation closes

Sahar Nazir
clock 29 August 2025 • 4 min read