UK Bribery Act: Ten things you should know
Introduction
The corporate community has become accustomed to the US authorities frequently investigating and prosecuting offences under the US Foreign Corrupt Practices Act (FCPA). Until recently, the same could not be said about investigations and prosecutions by the UK authorities. In part, the historic failure to investigate and prosecute corruption offences has been attributed to a lack of impetus by the Serious Fraud Office. However, to some extent, the lack of action has been a result of the antiquated and piecemeal nature of the UK law on bribery and corruption.
However, with the enactment of the Bribery Act (the Act) on 8 April 2010, with its wide-ranging changes and significant extra-territorial reach, one of the impediments to the bringing of successful prosecutions will be reduced.
The Act is wider in scope than the FCPA in a number of respects. Below are some key points that all corporates should be aware of in relation to the Act.
Disclaimer
This publication is written as a general guide only. It is not intended to contain definitive legal advice which should be sought as appropriate in relation to a particular matter.
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