UK Bribery Act

The UK Bribery Act is an act of the Parliament of the United Kingdom enacted in 2010 to prevent, combat and penalize acts of bribery. The Bribery Act creates four offenses: 1) bribing another person 2) being... more +
The UK Bribery Act is an act of the Parliament of the United Kingdom enacted in 2010 to prevent, combat and penalize acts of bribery. The Bribery Act creates four offenses: 1) bribing another person 2) being bribed 3) bribing a foreign official 4) failure of a corporation to prevent bribery on its behalf. The Act provides for very stringent penalties and is considered one of the toughest pieces of anti-bribery legislation in the world.  less -
News & Analysis as of

The Panama Effect: UK Government accelerates proposals to criminalise failure to prevent tax evasion

10 considerations for professionals and corporates worldwide in advance of the new law. Overview - In a move widely seen as a response to the so-called “Panama Papers” revelations, the UK Government has enhanced...more

French Anti-Corruption Reform Expected In 2016

France to introduce significant changes affecting large companies and top management, to improve current anti-bribery system. The French Parliament is expected to enact “Sapin II” on transparency, anti-corruption and...more

Lessons From The First S7 UK Bribery Act Case

Sweett Group plc has been ordered to pay GBP 2.25 million in penalties after pleading guilty to a failure to prevent bribery. From a hotel in the United Arab Emirates to Southwark Crown Court, the reach of the “toughest...more

Investigating The Investigators – What Happens To Your Seized Privileged Documents?

A challenge to the SFO’s use of its seize and sift powers to process privileged documents failed in McKenzie, R (On the Application Of) v Director of the Serious Fraud Office [2016] EWHC 102 (Admin). The High Court permitted...more

David Cameron announces acceleration of new corporate offence of failing to prevent "associated persons" from facilitating tax...

The UK Government has announced the proposed introduction of a new corporate offence of failing to prevent the facilitation of tax evasion. The new offence is likely to build on draft legislation produced in...more

DOJ Criminal Division Announces FCPA Pilot Program

The pilot program appears to put a tangible number on the potential amount of reduction in sanctions for cooperation, but in reality is not all that “new.” On April 5, the U.S. Department of Justice (DOJ) announced a...more

Anti-Bribery: Lessons From The First Deferred Prosecution Agreement — Between The SFO And A Bank

The Serious Fraud Office’s recent deferred prosecution agreement with Standard Bank, the first in the UK, provides a useful walk through the new legislation, but a more complex case is needed to shine some light on the...more

From Strength to Strength: Financial Sanctions

On 7 March 2016, the new Police and Crime Bill (the “Bill”) received its second reading in Parliament. The stated aims of the Bill are to bring consistency to all penalties across the UK financial sanctions regimes, increase...more

The SFO’s “ongoing” investigation into Alstom – Further Charges

We originally wrote in 2014 about charges that had been brought in September of that year by the UK’s Serious Fraud Office against the French Multinational’s UK subsidiary, Alstom Network UK Ltd, and two former employees and...more

FinCrimes Update - February 2016 Summary, Volume 4, Issue 2

OCC AND FINCEN ASSESS CIVIL MONEY PENALTIES AGAINST FLORIDA-BASED WEALTH MANAGEMENT FIRM FOR BSA VIOLATIONS - On February 25, the OCC, in coordination with FinCEN, announced that it took action against a Florida-based...more

UK Financial Regulatory Developments - February 2016 #18

FCA planning review of retained CCA provisions - FCA is seeking input on the planning phase of the review of retained provisions of the Consumer Credit Act (CCA). FCA is required to review remaining CCA provisions and to...more

The UK Bribery Act reaches the Middle East

What has happened? The UK's Serious Fraud Office (SFO) secured a recent victory against foreign bribery when, on 19 February 2016, Sweett Group Plc (Sweett), a company headquartered in London, was sentenced and ordered...more

The UK Bribery Act reaches the Middle East

What has happened? The UK's Serious Fraud Office (SFO) secured a recent victory against foreign bribery when, on 19 February 2016, Sweett Group Plc (Sweett), a company headquartered in London, was sentenced and ordered...more

Failure to prevent bribery: The first s7 sentence - This article looks at the first court sentence for failure to prevent bribery...

The Bribery Act 2010 has been in force for over four years. For much of that time, businesses have waited for clarification of the s7 offence of failure to prevent bribery. Finally, near the end of 2015, the first DPA was...more

London-Based Global Building and Infrastructure Company Ordered to Pay £2.25 Million in First UK Section 7 Conviction

Following its December guilty plea in the UK, a London-based global building and infrastructure company on Friday was ordered by a UK court to pay £2.25 million (including a fine of £1.4 million) for violating Section 7 of...more

Sweett Sentence Provides Guidance for DPAs

After its guilty plea to an offence under the UK Bribery Act, Sweett Group PLC was sentenced on February 19, 2016 at Southwark Crown Court, and ordered to pay a total £2.25 million penalty for the offence. The international...more

Sweett Group Convicted for Failing to Prevent Bribery

The Serious Fraud Office announced that Sweett Group Plc had been convicted and sentenced for failing to prevent bribery by an associated person under section 7 of the Bribery Act 2010. It is the first conviction of the...more

2016 Trends #8: Getting Serious About Anti-Bribery & Corruption Efforts and Third-Party Risk Management

By now, most organizations understand the importance of identifying and addressing any exposure they have to violations of anti-corruption and bribery (ABC) laws. Much attention has been given to recent cases, and to...more

A "French Bribery (and Sunshine) Act" is about to be launched - a legal revolution is underway in France

France has been for a long time lagging behind on the field of anti-corruption laws. In 2012, the Organisation for Economic Co-operation and Development raised serious concerns regarding the lack of bribery convictions in...more

First DPA in the U.K. Signals Britain is Serious About Bribery & Corruption

Late last year, ICBC Standard Bank Plc, a U.K.-based financial institution with operations around the world, agreed to pay a $37 million fine and enter into a deferred prosecution agreement (DPA) with British financial...more

The Sour Taste of Corruption: Part I

In July 2014 the Serious Fraud Office (SFO) confirmed that it had launched an investigation into allegations of bribery concerning a former employee of property surveyor Sweett Group. The former employee was based in the...more

2015 Corruption Perceptions Index, a Vital Anti-Bribery Compliance Tool, Highlights Global Corruption Risks for Corporations

On January 27, 2016, Transparency International released its 2015 update to its annual “Corruption Perceptions Index” (“CPI”), a vital resource for corporate anti-corruption compliance efforts. The 2015 CPI rates 168...more

[Webinar] White Collar Crimes in Indo-U.S. context: Do’s and Don’ts - Meritas Capability Webinar - Feb. 3rd, 10:00am EST

While emerging markets represent untapped growth potential and investment opportunities, there is often a sharp contrast between global best practices and compliance requirements and accepted business practices prevalent in...more

The Five Top Compliance Related Events of 2015

Having gone through the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) enforcement year for the Foreign Corrupt Practices Act (FCPA), I would now like to turn to my Top Five compliance related events...more

Standard Bank PLC: First U.K. Deferred Prosecution Agreement and Settlement with the SEC

On 30 November 2015, Standard Bank PLC (“Standard”) entered into the first ever Deferred Prosecution Agreement (“DPA”) with the Serious Fraud Office (“SFO”) for failing to prevent bribery under the Bribery Act 2010. Standard...more

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