The UK Serious Fraud Office (SFO) recently published a new chapter in its internal Operational Handbook, which provides guidance on the SFO's approach to Deferred Prosecution Agreements (DPAs) (the Guidance). The SFO's Director, Lisa Osofsky, remarked, "Over the past six years, we at the SFO have been developing our approach to negotiating and entering into DPAs, and in turn, establishing best practice. Publishing this guidance will provide further transparency on what we expect from companies looking to co-operate with us."