The UK Bribery Act comes into force on 1 July 2011 and in our experience companies underestimate the time required to implement an anti-corruption strategy. So for those who have yet to act, and have less than two months to do so, what do you need to know?
Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, talks about adequate procedures and how businesses are not struggling to understand what they are, but cites aspects of the legislation such as ‘associated persons’ as areas causing UK business the most problems.
Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business
Christophe Amez, Dow Jones Risk & Compliance, highlights some of the frustrations companies are facing - citing 65% of businesses questioned by Dow Jones, as delaying or abandoning all together new initiatives because of lack of clarity around anti corruption legislation.
Nicola Bonucci, OECD’s director for legal affairs and Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, address the issues of what constitutes ‘lavish’ corporate hospitality and facilitation payments
Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business
Can British companies complying with the FCPA be in conflict with the UK Bribery Act? David Lorello, partner, Steptoe & Johnson, Nicola Bonucci, OECD’s director for legal affairs and Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, discuss how companies can reconcile possible conflict.
Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business
Bribery is more than just a white collar crime. Nicola Bonucci, OECD’s director for legal affairs, explores the public policy issues associated with bribery and emphasises the message that the Bribery Act is good for clean businesses who want to compete on a level playing field.
Sterl Greenhalgh, partner and head of Grant Thornton’s anti-corruption group, picks up on whether UK Government is providing enough support to business.
Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business
What guarantee is there that enforcement will be taken seriously? Panel members discuss not only trends in enforcement but the commercial efficiencies of having systems in place to prevent bribery.
Download our guide ‘Navigating the Anti-Corruption Maze’ to assist you in understanding the risks and how to implement an appropriate system of adequate procedures in your business
Bribes, backhanders, suspiciously lavish corporate hospitality, corrupt officials or local operators on the make… corruption oils the wheels of industry in markets across the world. But the stakes of being associated with these got markedly higher this year with the new UK Bribery Act. Is your company aware of the risks?
Since the draft Bribery Bill was first published in 2008, it is not just the law that has changed but also attitudes to its enforcement.
There has been an unprecedented level of engagement ahead of the enactment of new legislation by the lead law enforcement agency.
However, despite this increased enforcement activity, our Anti-corruption survey suggests many businesses and their boards seem not to be taking corruption risk or the new Act seriously.
We consider the following steps to be key in establishing the right environment for UK companies….
The Financial Times Non-Executive Directors Club is holding a practical and interactive workshop for experienced non-executives on 10 June 2010 to discuss the implications of risk, fraud and corruption to the non-executive directors’ role.
