Doing Business In The UK Under The Bribery Act

Law360, New York (October 18, 2011, 1:09 PM EDT) -- The much-heralded U.K. Bribery Act of 2010 has finally become effective as of July 1, 2011. It is a sweeping law that reaches companies around the world and criminalizes the offer, provision and acceptance of bribes, both to public officials and, importantly, and in contrast to the United States Foreign Corrupt Practices Act, to private individuals.

The act also imposes criminal liability on commercial organizations (including private equity firms) for the new offense of failure to prevent bribery by an associated person — the so-called “corporate...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.