In this issue: The United Kingdom Bribery Act 2010; Update On Tort Reform Caps: Are They Constitutional?; Not Just For Adults Anymore; and The Fully Informative, Yet Fully Understandable, OTC Label.
Excerpt from The United Kingdom Bribery Act 2010 - What You Need To Know - And How It Could Affect U.S. Companies:
If your company is based in the United States and does business in any foreign market, you are likely familiar with the U.S. Foreign Corrupt Practices Act of 1977 (“FCPA”). The anti-bribery provisions of the FCPA generally prohibit any payments to foreign government officials for the purpose of obtaining or retaining business. Violations of the FCPA can result in criminal and civil penalties, including fines and imprisonment for individuals and substantial fines for corporate entities. Most U.S. companies doing business abroad have an understanding of the FCPA and have policies and procedures in place to prevent their employees and agents from committing bribery. However, the United Kingdom Parliament recently enacted the Bribery Act 2010, c. 23 (Eng.) (“UK Bribery Act” or “the Act”) that has the potential also to affect U.S. companies and their employees and agents.
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