When passed in 2010, the UK Bribery Act was dubbed the “most stringent anti-corruption legislation in the world.” This was due in part to Section 7, which created an unprecedented form of vicarious liability at the time, with a potentially strong extraterritorial reach.… Continue Reading
This month the UK Serious Fraud Office published new guidance about how it assesses the effectiveness of the companies it investigates. The SFO’s eight-page document “Evaluating Compliance Programs” arrived with very little fanfare late last week.… Continue Reading
Last year marked a key transition in the UK in relation to bribery enforcement. David Green departed from the SFO in April 2018 to be replaced (on an interim basis) by his COO, Mark Thompson, and finally succeeded in the autumn by Lisa Osofsky.… Continue Reading
The first contested “failure to prevent” case, in which a company sought to rely on having adequate procedures in place, concluded with a small British refurbishment company being found guilty.
Despite now being dormant, it was decided to be in the public interest to try the case and in doing so sends out a strong message that companies of all sizes should be considering whether they have what might constitute adequate procedures in place.… Continue Reading
Andy Spalding asked in a post on the FCPA Blog why countries that allow facilitating payments seem to have lower levels of corruption? He didn’t find a definitive answer. But I want to offer my own explanation of why countries that permit facilitating payments might have a better record than those that do not.… Continue Reading
Minnesota-based Image Sensing Systems said the DOJ has “closed its inquiry” into potential Foreign Corrupt Practices Act violations and the SEC has also closed its investigation.
The company said last week the DOJ decision not to bring an enforcement action cited its “voluntary disclosure, thorough investigation, cooperation and voluntary enhancements to its compliance program.”… Continue Reading
The British Bankers’ Association recently issued its 2014 Anti-Bribery and Corruption Guidance, emphasizing the regulatory context and in particular the Financial Conduct Authority’s policies, recent thematic reviews and enforcement action.… Continue Reading
Three men charged under the U.K. Bribery Act will appear in a London court Monday.
Two years after the Bribery Act 2010 came into force, the hysteria surrounding the Act has abated. There are fewer media pundits pronouncing the end of UK plc as we know it and there are fewer newly invented “legal experts” opining on an area they knew little or nothing about but which they saw as a potential earner to fill the gaping hole left by declining litigation and commercial transactions.… Continue Reading