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UK Bribery Act Due Diligence

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 -

Corporate Compliance Programs: US and UK Perspectives

by Dechert LLP on

In today’s regulatory environment, companies face mounting pressure from law enforcement agencies to maintain robust compliance programs to deter and detect misconduct by employees, third-party vendors and business partners....more

"The New UK Corporate Offence of 'Failure to Prevent the Facilitation of Tax Evasion': Implications for Fund Managers and...

The U.K. government expands its crackdown on tax evaders and the persons who assist them, by targeting businesses who fail to prevent tax evasion....more

Financial Services Quarterly Report - Third Quarter 2016: Managing the Compliance Aspects of Private Equity Investments

by Dechert LLP on

International business transactions can be subject to intense scrutiny due to the broad scope of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, in addition to other similar anti-corruption measures...more

Due Diligence For Bankable Solar PV Projects

by Dentons on

Sharp reductions in the price of solar PV technology, dramatic technological advancement and (until recently) generous subsidies for solar PV generation have enabled developers to project reliable and attractive revenues over...more

Hallmark 7-Third-Party Due Diligence and Payments

by Thomas Fox on

There are five steps in the life cycle of third party management. - Business Justification and Business Sponsor; - Questionnaire to Third Party; - Due Diligence on Third Party; - Compliance...more

Corruption Risks and Corporate Social Responsibility Spending

by Michael Volkov on

Global companies have been embracing socially responsible spending projects to build stronger relationships with local communities. The idea makes a lot of sense and real projects can result in real benefits....more

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

by Latham & Watkins LLP on

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

Star Wars Week Part II – The Empire Strikes Back – Levels of Due Diligence

by Thomas Fox on

We continue our celebration of all things Star Wars; at least as they pertain to the original trilogy, as today we honor Episode V – The Empire Strikes Back, which is my personal favorite of the original three movies. The...more

Australian Anti-Bribery & Compliance Trends

Today we welcome Ted Williams, Partner, Piper Alderman. Ted, can you share some of your background and experience? TW: Thank you, Richard, for the opportunity to engage with your community, and it was a pleasure to...more

Modern Slavery Act: How to Comply with the ‘Corporate Provision’

by K&L Gates LLP on

On 29 October 2015, the ‘corporate provision’, section 54, of the Modern Slavery Act (the “Act”), came into force. All businesses in the UK with a global turnover of £36 million will now be required to publish an annual...more

Scottish Authorities Settle First Corporate Criminal Offence Under the Bribery Act

by Morrison & Foerster LLP on

On 25 September 2015, prosecutors in Scotland announced the first application of the corporate offence of failing to prevent bribery under section 7 of the Bribery Act 2010. Due to self-reporting and extensive cooperation...more

Farewell to Chocolate Thunder, Baylor Football and Due Diligence

by Thomas Fox on

Daryl Dawkins died yesterday. To anyone who followed the National Basketball League (NBA); Dawkins will always be remembered with the brilliant Stevie Wonder-derived moniker – Chocolate Thunder. I will also remember him for...more

Private Equity’s Corruption Risk Underbelly — Portfolio Companies

by Michael Volkov on

FCPA enforcement will likely take a turn into the private equity industry. I know this is a regular claim by FCPA practitioners but we already can see the beginning of the trend. The “princeling” investigations are...more

Great Structures Week V – The Tacoma Narrow Bridge Failure and Preventing Failure in Your Compliance Program

by Thomas Fox on

I conclude my Great Structures Week with a focus on structural engineering failures: suspension bridges and the challenges of wind in their construction and maintenance. I am drawing these posts from The Great Courses...more

The Foreign Corrupt Practices Act: At a Glance

by Locke Lord LLP on

In this issue: - FCPA AT A GLANCE - THE ANTI-BRIBERY PROVISIONS OF THE FCPA - TO WHOM THE ANTI-BRIBERY PROVISIONS APPLY - THE PAYMENT ELEMENT - THE CORRUPT INTENT ELEMENT - WHO IS A...more

Language Solutions as Preventative Tool in Anti-Corruption Compliance

by Thomas Fox on

Ed. Note-I partnered with Merrill-Brink to write a White Paper on the use of local languages as a preventative tool in FCPA, UK Bribery Act and anti-corruption compliance. Today’s blog post is an excerpt from the full article...more

Building Your Third Party Due Diligence Checklist: The Right Pieces, Processes and Presumptions

by NAVEX Global on

A comprehensive approach to third party and vendor due diligence management is essential for any company conducting business globally. A strong due diligence program’s purpose is two-fold...more

DOJ Issues Opinion, Provides (Some) Comfort on Successor Liability

In a recent Opinion Procedure Release (OPR), Number 14-02, the U.S. Department of Justice expressly limited successor liability for a US company purchasing a non-US company that had paid bribes in the past. In so doing, DOJ...more

Due Diligence: Past, Present And Future

by Thomas Fox on

Released 40 years ago this month, the Al Stewart album Past Present and Future was a departure from his earlier folk based work. In this album, Stewart focused on historical themes....more

Third Party Risk in a Global Environment

by NAVEX Global on

Most organizations engage with hundreds, if not often thousands, of third party vendors, suppliers, agents and business partners, creating a daunting and ever-expanding scope of risk. This risk arises from: 1....more

Observations on a Milestone Bribery Investigation and Increased Scrutiny of Foreign Companies in China

by McDermott Will & Emery on

The Chinese government’s recent crackdown on alleged bribery and corruption of local officials by multinational pharmaceutical companies could signal a broad trend toward elevated scrutiny of all foreign corporations...more

British PM Leads The Fight Against Shell Corporations

by Thomas Fox on

One of the critical areas in due diligence for foreign business partners is determining who are the true owners of an entity....more

Preventing Corruption While Protecting Personal Information

by Morrison & Foerster LLP on

Multinational businesses are subject to a patchwork of laws of the various jurisdictions in which they operate. Complying with the myriad rules and regulations can be challenging. Compliance obligations vary from one country...more

Dow Jones’ Anti-Corruption Survey: Key Findings

by NAVEX Global on

During the past few years, there has continued to be a shift in the amount of attention companies are putting towards corruption concerns and anti-corruption programs. This is evident in the recent survey of 311 compliance...more

Doing Business In Italy - Step Up Your FCPA Compliance Now

by Thomas Fox on

Former Italian Prime Minister Silvio Berlusconi is no stranger to scandal and controversial statements, but lately his words and actions seem to be providing cause for concern outside of the European Union....more

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