Lista M Cannon & Alex H Rene assess compliance confrontations in the wake of the new Bribery Act
The Bribery Act 2010 received Royal Assent on 8 April 2010, over a century after the passing of the laws that established the UK’s framework for the prosecution of bribery and corruption offences. While the Act is expected to come into force later in 2010 (possibly October) businesses must now pay close attention to the offences created by the Act, including the new corporate offence of failing to prevent bribery, and the severe penalties that businesses and individuals may face for failure to comply with the Act.
Bribery of another person
It is an offence under the Act if one “offers, promises or gives a financial or other advantage to another person” intending that person to perform improperly a relevant function or activity. The scope for what might amount to a “financial or other advantage” is broad. A breach occurs where the bribing party knows or believes that the acceptance of the
