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

FSCS completes investigation into Kerry Nelson's Nexus IFA

FSCS completes investigation into Kerry Nelson's Nexus IFA

Lifeboat fund to assess claims as director faces fraud charges

Jen Frost
clock 19 June 2025 • 1 min read
Understanding UK money habits: FCA's 2024 Financial Lives report key takeaways

Understanding UK money habits: FCA's 2024 Financial Lives report key takeaways

'Survey highlights significant challenges in financial resilience and pension savings'

Caitlin Southall
clock 12 June 2025 • 5 min read
Finfluencer trials delayed until 2027 due to court backlog

Finfluencer trials delayed until 2027 due to court backlog

Nikhil Rathi gave the update to aTreasury Committee hearing

Sorin Dojan
clock 10 June 2025 • 2 min read