Christopher Hilditch
NEW YORK, US / LONDON, UK: While 78% of respondents who participated in a Deloitte webcast poll said there will be greater global anti-corruption enforcement in the next year, nearly as many (73%) say they are not familiar with provisions in the UK Bribery Act. The new measure, effecti...
The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) continue to aggressively focus on enforcement of the Foreign Corrupt Practices Act (FCPA). The DOJ’s anti-corruption enforcement arsenal also now includes the recently enacted Foreign Extortion Prevention Act (FEPA). ...
UK Bribery Act, and French, German and Greek criminal codes. The series thematically explored the reach of these anticorruption laws, the importance of third party due diligence and the extent of a company’s liability for actions carried out by third parties and employees. We also sought to ...
law ought to target the demand side of foreign bribery transactions (that is, the bribe-takers), not just the supply side, and have therefore advocated for the adoption of the so-called Foreign Extortion Prevention Act (FEPA). These advocacy efforts appear to be paying off: In late July, ...
Anti-Bribery and Corruption The UK propels itself to the forefront of global enforcementOfficials, PublicAct, The
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs...
Bribery means offering, giving, soliciting, or receiving anything of value in order to gain any improper and/or unfair advantage (e.g. to obtain or retain business, to influence the actions of a third party). The concept of “anything of value” is not limited to payments. It also covers...
Violators of the act can face substantialsanctionsand penalties, and both criminal and civil actions may be charged. Punishments include fines as much as twice the amount of the benefit expected to be received from the bribery. Corporate entities found guilty of breaching the act may be forced t...
Anti-bribery legislation raising the bar: the Bribery Act passed into UK law in April 2010. This replaces the UK's previous anti-bribery legislation, much of which had been criticised by prosecutors, pressure groups and NGOs as unfit for purpose.(Company Law--Northern Ireland)...