New anti-bribery guidance published

The easy to adopt good practice guide, provides procedures for companies operating internationally and include modules such as risk assessment, due diligence, managing third parties and aligning incentives to behaviour.  Further, the guidance covers other areas of corruption risk that companies increasingly need to be aware of, such as political engagement, as well as transparency in corporate reporting.

Commercial organisations need to assess whether they have adequate procedures to ensure that they are not involved in bribery and corruption so that they do not incur liability the Bribery Act 2010, which was implemented on 1 July 2011. A failure to implement adequate procedures may result in criminal and civil liability and penalties for organisations and individuals.

Offences under the Bribery Act can be committed in the UK or overseas and are effectively strict liability offences, that is, there is no requirement to show fault on the part of the commercial organisation. Whilst most major companies already have in place an anti-corruption policy, this should be reviewed regularly to ensure that it is fit for purpose, and the new guidance from TI is an important resource in assisting in this regard.

See www.antibriberyguidance.org to view or download the guidance in full.

Memery Crystal has experience of helping businesses comply with the requirements of the Bribery Act and is well-placed to advise on these issues.