Dear China Direct reader,
The final guidance to the Bribery Act 2010 was published yesterday morning alongside a quick start guide aimed at small businesses.
Please download both the Summary Guide and Full Report below:
Download 11 03 29 the bribery act 2010_quick start guide
Download 11 03 29 the bribery act 2010_guidance
The SFO (Serious Fraud Office) guidance will be available on their website. We are also expecting clarity on the EU Procurement Directive issue. The Act will come into force on 1 July.
The CBI worked closely with the Ministry of Justice in January and February on the final drafting of the guidance after voicing serious concerns to government about the Act and making it clear that previous draft guidance had done little to address fears that the Act would be to the detriment of UK competitiveness.
The changes made to the guidance should help make it more workable for business. In particular, government listened to our calls for clarity on the extent of liability for associated persons and joint ventures, corporate hospitality and due diligence.
The Act remains the toughest piece of anti-bribery legislation in the world, and companies may still have concerns, but government has gone as far as it can within the framework of poorly-drafted legislation to ensure businesses can be confident of keeping above board.
That said, businesses will need to use the next three months to prepare well for the implementation of the Act and keep revising their anti-bribery policies to ensure that they do not unintentionally fall foul of the law.
There are still areas of uncertainty around how the law will be applied and it is now in the hands of the SFO to ensure enforcement is reasonable and risk-based.
The CBI is meeting the SFO soon to push the point that if prosecutors do resort to catching-out well-intentioned businesses on technicalities in order to make an example to the rest of the world, they risk creating a culture of fear that could be to the serious detriment to the UK economy.
Please get in touch with my colleague Maxine Cahal ([email protected]) with any questions or queries on 00 44 207395 8157.
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