News & Analysis as of September 20, 2024

UK Bribery Act › Self-Reporting

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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 -

The Bribery Act 2010 - Where Are We?

BCLP on 3/29/2019

This is the first of a series of articles on the House of Lords Select Committee’s recent report, entitled “The Bribery Act 2010: post-legislative scrutiny”, in which members of BCLP’s White Collar team review the report. ...more

UK Bribery Act Receives Glowing Report While Other Areas of Economic Crime Prevention "Could Try Harder"

Dechert LLP on 3/29/2019

The British Parliament has recently published two important post-legislative assessments of the effectiveness of the UK’s financial crime legislative framework, as well as an insight into future areas of focus....more

Blog: Skansen Interiors Limited: The UK’s first contested prosecution under S7 of the Bribery Act

Cooley LLP on 4/26/2018

The recent conviction of UK company Skansen Interiors Limited (SIL), for the corporate offence of failure to prevent bribery has caused controversy. This is the first conviction under S7 of the Bribery Act after a contested...more

UK Jury Verdict Clarifies “Adequate Procedures” Under UK Bribery Act

Akin Gump Strauss Hauer & Feld LLP on 3/13/2018

In an important decision given on February 21, 2018, a jury in English court proceedings has considered for the first time what “adequate procedures” should be for the purpose of a defense to the corporate offense of failing...more

Businesses face unlimited fines for failure to prevent facilitation of tax evasion

Womble Bond Dickinson on 1/8/2018

Introduction - As part of a global crackdown on tax evasion, the Criminal Finances Act 2017 (the Act) introduced a new offence. From 30 September 2017, an organisation commits a criminal offence if an employee or...more

"Absolute Liability" for a Failure to Prevent Foreign Bribery: Significant Change Ahead in Australia?

Jones Day on 12/22/2017

On 6 December 2017, Australia's Federal Government tabled the Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 ("Bill"), which contains various amendments to Australia's foreign bribery regime, including...more

Significant Reform Signalled for Australia's Foreign Bribery Regime

Jones Day on 12/11/2017

On 6 December 2017, the Commonwealth Government announced its intention to significantly reform Australia's existing anti-foreign bribery regime. The Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017, now...more

The UK Bribery Act: SFO Procedures and DPA Process

Thomas Fox - Compliance Evangelist on 6/16/2016

A couple of recent articles about the UK Serious Fraud Office (SFO) caught my attention. One was on thebriberyact.com, entitled “Opinion: DPA’s must show greater benefits. We discuss the Criteria & Process for a DPA set out...more

SFO Spells Out What It Means By "Cooperation"

A&O Shearman on 6/9/2016

In a speech on 18 May 2016 Matthew Wagstaff, Joint Head of Bribery and Corruption at the Serious Fraud Office, spoke about what the Serious Fraud Office regards as proper cooperation. Michelle de Kluyver, Counsel at Allen &...more

Top Ten International Anti-Corruption Developments for April 2016

Morrison & Foerster LLP on 5/12/2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

DOJ Criminal Division Announces FCPA Pilot Program

Troutman Pepper on 4/7/2016

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

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

NAVEX on 2/4/2016

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

Takeaways From UK's 1st Deferred Prosecution Agreement

Dorsey & Whitney LLP on 12/14/2015

In a judgment published on Nov. 30, Lord Justice Brian Leveson approved the first deferred prosecution agreement in the U.K., which was negotiated between the Serious Fraud Office and ICBC Standard Bank PLC. Lord Justice...more

First UK Deferred Prosecution Agreement Agreed by SFO

Morrison & Foerster LLP on 12/8/2015

At a hearing on November 30, 2015, Southwark Crown Court approved the first deferred prosecution agreement (DPA) in the UK. DPAs have been available for use by the Serious Fraud Office (SFO) since February 2014, following...more

The Future of U.K. Enforcement of Financial Crimes: Four Clues for 2015

NAVEX on 3/18/2015

The legal and compliance landscape is changing quickly—it’s up to organisations that do business in the U.K. to strengthen their compliance programmes to meet these new challenges. In this whitepaper, Andrew Foose, vice...more

A Year-End Update on the UK Bribery Act

Pillsbury Winthrop Shaw Pittman LLP on 12/18/2012

Although 2012 did not bring a major prosecution, it was not without note-worthy events. The UK Serious Fraud Office (SFO), on top of the withdrawal of previous Bribery Act guidance and the publication of new guidelines in...more

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UK Bribery Act › Self-Reporting

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