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By Bethany Hengsbach

On March 30, 2011, the United Kingdom (“U.K.”) Ministry of Justice (“MOJ”) issued its long-awaited guidance on the U.K. Bribery Act (the “Guidance”), the U.K.’s answer to the U.S. Foreign Corrupt Practices Act and domestic bribery laws.  The implementation of the U.K. Bribery Act (the “Act”) has been delayed twice, but now will take place on July 1, 2011. Thus, the time has come for companies to assess their anti-corruption compliance programs and make adjustments to ensure that they address the nuances of the Act.
 

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By Bethany Hengsbach and Anthony Moshirnia

Through enforcement, administrative action, and new legislation, the Foreign Corrupt Practices Act (“FCPA”) grew additional muscle and even sharper teeth in 2010.  The U.S. government assessed nearly $2 billion in FCPA-related penalties and fines in 2010, and announced eight of the top ten FCPA settlements of all time.
 

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By Bethany Hengsbach

The United Kingdom’s answer to the Foreign Corrupt Practices Act (“FCPA”) has arrived.  The UK Bribery Act 2010, which received Royal Assent on April 8, 2010, is both stricter and broader than the FCPA.  The U.K. Ministry of Justice announced on July 23, 2010 that the implementation of the Act will be delayed until April 2011, which gives companies much-needed time to prepare for the changes it will bring.

The following article by Bethany Hengsbach was originally published in the Financial Executive. To read the article please click here, or visit the Financial Executive website.

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