Although many UK companies have been subject to the requirements imposed by Sarbanes-Oxley and other US legislation for some time, UK plc is increasingly feeling the heat as US authorities have aggressively turned their attention to the UK. In addition, new fast-track extradition arrangements between the US and the UK mean the US is now pursuing cases that it would formerly have decided not to.
The new extradition arrangements in particular have come in for heavy flak in the UK, with protests being voiced by business leaders, opposition politicians, human rights groups and ordinary citizens. A number of high-profile extradition cases are currently being fought in the courts, in what is turning into one of the hottest issues for UK businesses in recent years. Once extradited, UK citizens face a judicial system where plea bargaining is prevalent, conviction rates, in some cases, exceed 90%, and sentences are becoming increasingly severe.
