Ottawa vows legislation allowing firms to settle corporate corruption
The Canadian government is vowing to introduce legislation for corporate wrongdoing that could help SNC-Lavalin Group Inc. address criminal charges.
The government says deferred prosecution agreements (DPA), which were called for in public consultations last fall, will be another tool used by judges to hold companies accountable.
Shares in SNC Lavalin, which faces fraud and corruption charges, increased more than four per cent Friday following the announcement and the company's results a day earlier that beat analyst expectations.
The firm has argued that the agreements would allow companies to settle corporate corruption cases and avoid being put at a disadvantage when competing against rival firms in G7 countries that have such dispute resolution options.
Ottawa also says it will make enhancements to the Integrity Regime, introduced by the former Conservative government.
No timeline for the legislative changes was provided.