Escalating Anti-Bribery Enforcement


Regulatory compliance for multinational financial institutions has gotten tougher and is about to get even more difficult with new anti-corruption laws about to come into effect in the UK early next year. 2010 has seen unrelenting efforts by enforcement authorities in the US and the UK prosecuting bribery and lax compliance with anti-corruption laws. The Dodd-Frank Act now makes whistle-blowing a very serious threat to US and multinational institutions doing business in China and other emerging markets. Moreover, with the UK Bribery Act coming into force in April 2011, all financial institutions with business in the UK now need to review their compliance programs and ensure that they meet the new standards everywhere they do business.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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