UK Agency Says Banks Need Stricter Bribery Safeguards

Law360, New York (March 29, 2012, 6:47 PM EDT) -- The U.K.'s top financial regulator said in a report released Thursday that 15 of that country's top investment banking firms did not have sufficient anti-corruption and anti-bribery protections in place despite the presence of Britain's strict anti-bribery law.

The Financial Services Authority said in its report that of the 15 firms, including eight global investment banks and seven smaller firms, around half did not have sufficient assessment tools in place to ferret out instances of bribery committed by their employees.

The report also found that many...
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