Only a short grace period remains for foreign companies with operations in Britain to get their houses in order before a tough new Bribery Act goes into effect that is even more far-reaching than its U.S. equivalent, the Foreign Corrupt Practices Act (FCPA).
The Bribery Act, which took almost ten years to get through Parliament to replace outdated laws, was a response to criticism from the Organization for Economic Co-operation and Development, which in turn was pressured by the United States. Britain’s reputation in anticorruption efforts took a further beating in 2006, when its Serious Fraud Office (SFO), under government pressure, halted an investigation into a BAE Systems plc arms deal involving alleged payments to a Saudi government official. (In February the SFO ended a related investigation after BAE agreed to pay £30 million for failing to keep accounting records of payments to an adviser in Tanzania.)
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
