The UK Bribery Act came into force on 1 July 2010 as the FSA announces a corruption review

16 January 2012 |

The UK’s Bribery Act 2010 (the “Act”) applies to all organisations carrying on business in the UK and creates a number of offences, breach of which is punishable by up to 10 years imprisonment and an unlimited fine.

Organisations doing business in the UK should ensure that they understand their obligations under the Act.  Please see our previous articles in Resources (below).

FSA Investigation Announced

Meanwhile, in the UK, the FSA has announced that it is going to carry out an investigation into the way in which banks do business.  Specifically the FSA will be reviewing whether banks have taken steps to protect against the risks of bribery and corruption.

Commentary

If organisations doing business in the UK have not yet carried out a review of their anti-bribery procedures to ensure that they are adequate to meet the Act’s strict regime they should do so immediately.

Abbiss Cadres offer a full compliance service to enable organisations to assess and implement appropriate and proportionate procedures to manage the risks raised by the Act.

 

For further information or to discuss the issues raised, please get in touch.

Disclaimer

Content is for general information purposes only. The information provided is not intended to be comprehensive and it does not constitute or contain legal or other advice. If you require assistance in relation to any issue please seek specific advice relevant to your particular circumstances. In particular, no responsibility shall be accepted by the authors or by Abbiss Cadres LLP for any losses occasioned by reliance on any content appearing on or accessible from this article. For further legal information click here.

Related content

13 June 2024
How to apply for certificate of residence in the UK
Where an individual is resident in the UK and has…
29 May 2024
UK Share Plan Reporting 2024: Everything you need to know
The deadline is approaching for the HMRC’s annual return filings…
20 May 2024
Employee Share Plan Reporting 2024: Alerting Your Clients
The UK tax authorities’ (HMRC) submission deadline for annual return…
Subscribe to our newsletter
Stay up to the minute on our latest news and insights?
International reach

We have helped clients meet their HR needs in over 70 countries across five continents.