Video: Government raises pressure on Bribery Act
The Bribery Act makes it a corporate offence if a business with a UK presence fails to prevent a bribe.
It is not just businesses at risk: the Act also makes it a criminal offence for someone to give or receive a bribe and carries a penalty of up to ten years in prison and an unlimited fine. Kimberly Romaine interviews members of Travers Smith's Bribery Act team to discuss the implications of this potentially far-reaching Act.
So far there have been no examples of companies falling foul of this new legislation. But the time and effort put in to getting the Act through Parliament and the fuss made about the legislation in the press means that there will be considerable pressure on the Serious Fraud Office to bring successful prosecutions in 2012. As a result, it is imperative private equity deal-doers are adequately prepared.
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