Serious Fraud Office to investigate Rolls-Royce's intermediaries

Power systems giant Rolls-Royce is to report to the Serious Fraud Office (SFO) after matters of bribery and corruption involving so-called 'intermediaries' were discovered in Indonesia and China.

The company said that it has passed information to the SFO following allegations of malpractice in overseas markets.

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Rolls-Royce stressed that it had "significantly strengthened" its compliance procedures in recent years but, as a further measure, will appoint an independent senior figure to lead a review.

Commenting on the issue, Rolls-Royce's Chief Executive John Rishton said: ""I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance.

"This is a company with exceptional prospects and I will not accept any behaviour that undermines its future success".

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