Four men were convicted of commercial corruption offences last week in Southwark Crown Court, highlighting that regulators are not only interested in Government corruption, but that they will also crack down on corruption between private bodies as well. This is one of the ways that the UK Bribery Act differs from the US FCPA making it the most stringent anti-corruption legislation in the World.
The UK Bribery Act came into force in July 2011 and the first prosecution under the Act has already taken place. Regulators have indicated that they are actively investigating a number of cases under the new Act. The UK Bribery Act is the most stringent piece of anti-corruption legislation in the World, and that, coupled with an increased amount of enforcement activity from the UK authorities (see Mabey Johnson, BAE and the Weir Group prosecutions) means that all businesses need to be aware of how to comply.
The UK Bribery Act creates four offences, including the new corporate offence of failing to prevent bribery. If you do not have adequate policies and procedures in place you risk being held responsible for the actions of employees and anyone else acting on your behalf anywhere in the world.
Associate Laura Irvine has a particular expertise in anti-bribery and corruption. She recently joined bto from a global law firm where she spent the past year advising a large number of businesses and public sector/third sector organisations operating in Scotland, the UK and globally, on how to comply with the UK Act. From this experience Laura has an in depth knowledge of this piece of legislation and how best to manage its implications for businesses.
The Act can look very intimidating, but Laura’s ‘down to earth’ approach will assist you to understand your obligations under the Act.
Contact: Laura Irvine
Posted: 01.04.12