On September 25 2015, Brand-Rex Limited, a Scottish network cabling company, entered into a civil settlement with the Scottish Crown Office, admitting that the company had failed to prevent bribery and had received an improper benefit in violation of Section 7 of the Bribery Act 2010, which applies to the whole of the United Kingdom. … Continue Reading
The United Kingdom’s regime against bribery, corruption and fraud is operating in a new landscape following the introduction in August 2015 of the International Corruption Unit (ICU), a new governmental agency created under the auspices of the Department for International Development (DFID). The latest step in the clampdown on nefarious business practices came as the … Continue Reading
In last month’s article about the first Deferred Prosecution Agreement secured by the SFO, we referred to another prosecution the outcome of which was awaited. Following the entry of a guilty plea to an offence under s.7(1)(b) of the Bribery Act 2010 in December 2015, the Sweett Group plc was sentenced at Southwark Crown Court … Continue Reading
In September 2014, the new Attorney General, Jeremy Wright, revealed that the government was considering introducing a new offence of corporate failure to prevent economic crime, such as fraud and money laundering, similar to the corporate offence in the UK Bribery Act 2010 of an organisation failing to prevent bribery. In its UK Anti-Corruption Plan, … Continue Reading
Despite the fact that the Bribery Act 2010 (the “Act”) came into force on 1 July 2011, a recent government study has found that only two-thirds of SMEs are aware of the Act or its corporate offence for failure to prevent bribery (under section 7 of the Act). Of those that were aware of the … Continue Reading
The UK Anti-Corruption Plan, published in late 2014, sets the strategic direction for anti-corruption activity in the UK. It contains 66 action points that the UK government will undertake by the end of 2015 in line with four components: Pursue – prosecuting and disrupting people engaged in corruption; Prevent – preventing people from engaging in corruption; … Continue Reading
We have reported previously that the UK’s Serious Fraud Office (SFO) has confirmed its commitment to prosecuting bribery and corruption and that although there is yet to be a “big case” under the UK Bribery Act 2010, the SFO are busy investigating companies it suspects may have broken the law. As we approach the end … Continue Reading
It has been interesting to see the reactions around the world to the UK’s new Bribery Act 2010 (“Bribery Act”) which came into force earlier this month. Perhaps unsurprisingly, eyes have been on what the US has made of it given its long history in this area and the application of the Foreign Corrupt Practices … Continue Reading
Thomson Reuters Accelus has recently published a special report (PDF/1.43MB/28 pages) on anti-bribery and corruption and the increased burden on senior management. It is particularly pertinent in light of the Bribery Act 2010 (“Act”) coming into force tomorrow. Among other things, it contains some useful discussion on: sector specific issues and guidance; whether foreign issuers with a London … Continue Reading
For further details about the guidance recently published by the Ministry of Justice on the Bribery Act 2010, please read our Review (PDF/369KB). Among other things, the Review contains useful information on: corporate hospitality; facilitation payments; commercial organisations; and associated persons.… Continue Reading
The wait is over. The Ministry of Justice (MOJ) has today published the long awaited guidance for commercial organisations on procedures that they can put into place to prevent bribery. The following documents were made available on the MOJ website this morning: Guidance (PDF) on the Bribery Act 2010 (Act); and Quick Start Guide (PDF) on the … Continue Reading
Whilst we await the coming into force of The Bribery Act 2010 (“Act”) with baited breath, in the meantime, it is interesting to see the attempts to change the scope of the Act. There has also been no shortage of various interest groups calling for a delay in the Act’s implementation to allow them to … Continue Reading
With these words Charles Duross, Deputy Chief, Fraud Section, Criminal Division, Department of Justice – the country’s lead criminal prosecutor of FCPA – so began his comments at the recent American Bar Association White Collar Crime annual conference in San Diego, California. Duross characterized 2010 as “transformative” for the following reasons: Fraud Section Changes. Duross … Continue Reading
