In November, 2009 the Organization for Economic and Co-operation and Development (OECD)
announced a new recommendation at the OECD's celebration of "International
Anti-Corruption Day" and the Tenth Anniversary of the " Entry into Force of the OECD Anti-Bribery Convention "....
put on another fantastic webcast on topics relevant to compliance
professionals. Today's focused on the upcoming Bribery Act in the
United Kingdom . If your company has operations in the United Kingdom, you
need to pay attention to this law.
The upcoming law applies to individuals...
As reported by Andres Kramer in Tuesday's New York Times,
in an article entitled, " Russia,
Facing Big Budget Gap, Warms to Foreign Investors ", the Russian
government is actively seeking foreign capital and foreign investors. The
article mentioned that several state-owned enterprises...
One of the interesting facts of life that I have learned
being married to an English woman is that what I thought of as 'Football' is
really 'American Football'. The true game of 'Football' is played by the rest
of the world. (She also decries the term 'World Series'...
We believe that Risk Assessment is a tool and is one with
which a company should begin to craft its Foreign Corrupt Practices (FCPA) or
UK Bribery Act compliance program. The simple reason is straightforward; one
cannot define, plan for, or design an effective compliance program to prevent
There was Congressional testimony last fall to consider
possible modifications to the Foreign Corrupt Practices Act. In part the
testimony focused on the issue of FCPA compliance procedures as a defense for a
business organization. Under current practice those procedures are not a
defense but mitigation...
Although much is still unclear about the implementation
date, or the manner in which the UK Bribery Act will be enforced, it is clear
that one of the important compliance functions which a company should implement
is appropriate internal controls. The previously released Consultative Guidance
Excerpted from Infobytes , a weekly electronic
newsletter on developments in financial services law from BuckleySandler LLP .
For the full issue of Infobytes , click here .
On March 30, the U.K.
Ministry of Justice published long-awaited Guidance on the implementation of
Section 7 of the...
My colleague Henry Mixon of Mixon Consulting has an
interesting observation regarding internal controls under the UK Bribery Act.
Unlike the Foreign Corrupt Practices Act (FCPA), the Bribery Act does not have
a books and records component written into the law. However, even without this
Thomas Fox and Howard Sklar
continue a previous discussion of the UK Bribery Act and also talk about the Lindsey Manufacturing case,
the latest SAR Activity Review featuring
foreign corruption, and other FCPA-related topics.
(Please visit the site to view this video)
Watch previous episodes...
On this edition, Adam Greaves, partner in the London office of McGuireWoods, discusses the U.K. Bribery Act, which goes into force on July 1, 2011. Mr. Greaves explains how the Act will apply to non-U.K. companies, reviews some of the principle offenses and penalties, and details the "adequate procedures"...
In this episode, Thomas Fox and Howard Sklar discuss the
Africa Sting Case Victory (or Defeat, depending on your viewpoint)
2. SEC goes after Goldman
3. Lockheed Martin complies with the UK Bribery Act
4. Another company discloses an FCPA investigation
(Please visit the...
"If someone is being hit for a bribe, isn't the easiest
thing just to put it on Twitter? It goes round the world in next to no time."
Alderman, head of the U.K.'s Serious Fraud Office, is apparently serious about
Twitter . After self-congratulating themselves for organizing...
Earlier this week I had the opportunity to sit down and
lunch with Barry Vitou and Richard Kovalevsky, QC, authors of the website, thebriberyact.com . A great time was
certainly had by all and, in honor of their website and the venue, I enjoyed a
fine meal of fish and chips.
The two are a great...
In an article published in the July issue of the
Compliance Week magazine, entitled " T he
UK Bribery Act: How
to Mitigate the Risks or Prosecution for Making Facilitation Payments ", authors
Jonathan Feig and Richard Thomas discuss how companies can mitigate their risks
1st UK Bribery Act waste case.
Good: the government writes a great, well-written brief in the Siriwan
Bad: Alcatel-Lucent. Add some facts, but Howard still comes out in the
same place, and goes on another rant.
Ugly: Get some...
With the widely-reported increase in
FCPA enforcement by the U.S. DOJ and SEC, and the new UK Bribery Act recently
taking effect, corporations are increasingly required to conduct anti-bribery
due diligence and investigations across the globe. Yet EU data privacy
laws often seem to...
The debate now ongoing in the UK about whether Deferred
Prosecution Agreements (DPA) should be a tool available to prosecutors in the
Serious Fraud Office (SFO) and Crown Prosecutors is an important issue that
should be well reasoned and thoroughly vetted. However, from where I sit in the
US, I believe...
It's Final Jeopardy and the category is "Compliance". As
your company's Compliance Officer you are positively salivating at the
prospect. So you go all in and bet everything you have on this last question.
You stand abated as Host Alex Trebek poses the following question: "...
In the February 10, 2012 edition of the Houston Business
Journal, in an article entitled " In order to solve a problem, it must first
be identified ", author Harvey Mackay wrote "People don't usually buy
products and services. They buy solutions to problems." He notes that...
To give or not to give? That is certainly a question but
it may also include the question of the value of the gift. Under the Foreign
Corrupt Practices Act (FCPA) and UK Bribery Act gifts and entertainment
continue to bedevil compliance practitioners, business unit personnel and
The OECD Working Group On Bribery highlighted the efforts
the UK in the anti-corruption area in a most recent report (here). That Report
also contains a number of recommendations for future improvements.
The Working Group concluded that the SFO and other
relevant law enforcement agencies have significantly...
"We are not the 'serious champagne office,' " said David Green , chief of the UK's Serious Fraud Office
(SFO). But Green says he is working to focus his agency on bigger cases of
bribery and corruption. Green's commitment , and the sweeping nature of the UK
Bribery Act (UKBA...
I have long been an advocate of the compliance function
working with the Human Resources (HR) function in any company to help achieve
greater compliance under anti-corruption laws such as the Foreign Corrupt
Practices Act (FCPA) and UK Bribery Act. I think that HR is uniquely situated
to ' connect...
On this day 75 years ago Orson Welles caused a nationwide panic with his broadcast of “ War of the Worlds ” – a realistic radio dramatization of a Martian invasion of Earth. The show began on Sunday, October 30, at 8 pm. A voice announced: “The Columbia Broadcasting System and...