Tag Archives: bribery

SFO Sweeping the Focus to Construction and Energy Industries

In a recent speech, David Green, the Director of the Serious Fraud Office (SFO) stated that the agency would adopt a “sweep” approach, focusing on specific industries, to identify businesses which might be breaking the law. The SFO has made it clear that its anti-bribery investigations are focused on the construction and energy industries. Most … Continue Reading

UK Proposes Corporate Sentencing Guidelines

For the first time, the UK has proposed a specific and detailed sentencing regime for corporations involved in bribery, fraud and other economic crimes. Of course, individual executives who commit crimes of dishonesty can generally expect prison time. Corporates can’t be locked up, but they can be fined and/or have other penalties applied. Up to … Continue Reading

Results of the FSA’s Thematic Review into Investment Banks

This post was written by Robert Falkner and Tom Webley. In March 2012, The Financial Services Authority (“FSA”) published the results of its thematic review into the policies and procedures that investment banks have in place to prevent their employees from paying or receiving bribes. Click here for more information on the background to this … Continue Reading

UK Bribery Act: identifying bribes from tax calculations

This post was also written by Fionnuala Lynch. Earlier this month, Richard Alderman, Director of the SFO, was speaking at an international symposium on economic crime in Cambridge and made an interesting point which has been picked up by many UK newspapers. He referred to the fact that 20 years ago, it was possible for … Continue Reading

UK Bribery Act – first prosecution

The first person to be charged under the new Bribery Act will be a magistrates court clerk who allegedly accepted £500 for fixing a motoring offence. The Crown Prosecution Service (“CPS”) has decided to prosecute Munir Yakub Patel who faces a charge under Section 2 of the Bribery Act for allegedly requesting and receiving a … Continue Reading

FSA to investigate Bribery in the Banking Sector

The Financial Services Authority (“FSA”) recently announced its intention to carry out a thematic investigation of the policies and procedures that investment banks have in place to prevent their staff and agents from paying or receiving bribes. Click here for the full speech. This coincides with the coming into force of the Bribery Act 2010 … Continue Reading

UK’s Serious Fraud Office survives – but for how long?

This post was written by Simon D. Hart. After months of speculation, and rumoured turf wars within the UK government, it has today been confirmed that the UK’s Serious Fraud Office (“SFO”) will not be broken up and will remain independent of the new National Crime Agency (“NCA”). The SFO will retain both its investigative … Continue Reading

At Last, The Bribery Act 2010 Adequate Procedures Guidance is Here

The waiting is over! At last the UK Ministry of Justice has published guidance about procedures which commercial organisations can put into place to prevent persons associated with them from bribing. The Act will now come into force on 1 July 2011. The guidance offers non-prescriptive procedures and commentary on the scope of the Act. … Continue Reading

UK Bribery Act – Guidance on Adequate Procedures to be published tomorrow and Act to be implemented in June/July 2011

This post was also written by Suzie A. Savage. It is understood that the UK Ministry of Justice will publish its guidance on adequate procedures tomorrow, Wednesday 30th March 2011. The Act was originally scheduled to be implemented in April of this year, three months after guidance was to be published in January about the … Continue Reading

Strong debate continues over the UK Bribery Act and its implementation

This post was also written by Simon Hart. On January 13, 2010, the London Evening Standard reported that Prime Minister David Cameron’s office has ordered a review of the new UK Bribery Act as a result of strong concerns expressed by UK business leaders and others about the potential adverse impact the Act might have on … Continue Reading

UK Government consults on Bribery Act: “adequate procedures” guidance – but not for long

This post was written by Simon Hart. Eight weeks and counting. That is the period that the UK’s Ministry of Justice has given for responses to their consultation paper on the guidance which will be published by the Government as to what might constitute “adequate procedures” for companies who might find themselves relying on the … Continue Reading

The Bribery Act 2010 – What it means for you

This post was written by George Brown, Matt Stone, Simon Hart, Sarah Wolff, and Jim Sanders. The Bribery Act 2010 (the “Act”) which recently was passed by Parliament has far-reaching implications for any business which is either registered in the UK or which has any part of its operation in the UK. The breadth and importance … Continue Reading
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