Saya & Associates
Received an SFIO notice? Organise the first response
A notice is not a finding
A company that receives a notice connected with a Serious Fraud Investigation Office (SFIO) investigation may focus first on what to say. The more basic task is to understand the request and who holds the records.
An SFIO notice is not proof that anyone named has committed an offence. Nor is it routine correspondence to leave with one employee.
The response depends on the notice, the power being used, the company's position and the records involved.
Verify the notice and pin down its scope
Record the issuing authority, the recipient, the reference number, the date, the deadline, the documents requested, the period covered and any direction to appear in person.
Confirm that the notice is genuine through an official channel before sending records or personal information. If the request is unclear, take advice on the proper way to seek clarification rather than guessing its scope.
Section 212 of the Act lets the Central Government assign an investigation to the SFIO. Its investigating officer has the powers of an inspector under section 217.
Check the power used, and the capacity in which you are approached, against the notice itself.
Preserve the original record
Identify where responsive records sit: statutory registers, board papers, accounting systems, bank records, contracts, email, messaging systems and relevant devices.
Tell the people who run those systems not to delete, alter or overwrite material that may fall within the request. Keep a log of what was collected, from whom and when.
This does not mean copying every employee's device or sending all company files to the investigator. Collection and production should be controlled, responsive to the request and reviewed for relevance and confidentiality.
What section 227 protects, and what it does not
Section 227 provides that nothing in the investigation chapter requires a legal adviser to disclose a privileged communication made in that capacity, except the client's name and address.
It also spares a company's bankers from disclosing the affairs of their other customers. Whether a particular communication is privileged is a case-specific question, so identify legal advice early and review it before production.
Privilege is not a reason to withhold business records. Board minutes, invoices and ledgers do not become privileged because a lawyer has seen them.
Section 229: why the record must stay honest
Section 229 applies to anyone required to explain or make a statement in an investigation, and to officers and employees of a company under investigation. It covers three kinds of conduct:
| Conduct section 229 covers | What it can look like in practice |
|---|---|
| Destroying, mutilating, concealing, tampering with or removing documents | Clearing a mailbox or taking a laptop home after the notice arrives |
| Falsifying documents or making a false entry | Backdating an approval or rewriting board minutes to fit an explanation |
| Giving an explanation that is false, or known to be false | Saying a transaction was approved when the record shows otherwise |
Each is punishable as fraud under section 447, which carries imprisonment of up to ten years. A discrepancy should be investigated and explained, never edited away.
Separate facts from assumptions
Build a working chronology of the transactions or period named in the notice. Mark each statement as supported by a record, based on someone's recollection, or still unverified.
Identify who approved, recorded and executed each step, without forcing a single account before the documents are checked.
If several employees are involved, coordinate the document process but do not coach them to repeat a shared story. Their interests and the company's may not always be the same.
Record what was produced
Before responding, prepare an index: the requested category, the material located, its custodian and any gap needing explanation. Keep copies of what was produced and proof of when and how it was delivered.
If the time allowed is genuinely too short, take advice promptly about seeking clarification or more time. Do not assume an extension exists until it is confirmed.
For building the production register in detail, see our guide to an SFIO records request.
The first-response checklist
- Verify the notice. Confirm the issuing authority and its authenticity through an official channel.
- Record the scope. Note the documents, the period, the deadline and any direction to appear.
- Freeze the record. Stop deletion and overwriting on every system that may hold responsive material.
- Flag legal advice. Identify privileged communications early, for review under section 227.
- Build the chronology. Mark each fact as documented, recalled or unverified.
- Index the production. Log what is produced, its custodian, any gaps and proof of delivery.
Frequently asked questions
Is an SFIO notice proof that the company committed fraud?
No. It is a step in a statutory investigation. It calls for a careful, accurate response, not an assumption of guilt by anyone named in it.
Does the company have to hand over its lawyers' advice?
Not necessarily. Section 227 provides that the investigation chapter does not require a legal adviser to disclose a privileged communication, except the client's name and address. Whether a document is privileged needs case-specific review.
What if someone deletes or alters documents after the notice?
Section 229 makes destroying, falsifying or concealing documents, false entries and false explanations during an investigation punishable as fraud under section 447, which carries imprisonment of up to ten years.
How can we check that an SFIO notice is genuine?
Check the issuing authority, reference number and contact details against official sources. Confirm through an official channel before sending records or personal information.
Can employees agree on a common account?
They can help assemble documents, but should not be coached to repeat a shared story. Each person's account should reflect what they know, and discrepancies should be explained, not edited out.
The takeaway
A careful first response does not decide the investigation. It protects the integrity of the record and gives counsel a reliable basis to advise the company and the individuals involved.
To discuss a notice your company has received, contact Saya & Associates.
This article provides general information as at 28 September 2026. It is not a response template or advice on a particular notice. An actual SFIO request should be assessed promptly in its full factual and procedural context.