Last month, the OECD Working Group on Bribery published its latest report on the UK's implementation and enforcement of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

The report concludes that the UK has significantly increased foreign bribery enforcement since 2005 and has successfully heightened awareness in the UK of the Bribery Act and the foreign bribery offence. The report recommends, however, a more transparent approach to the reporting of settlement agreements and, in particular, discourages the use of confidentiality agreements which prevent public disclosure of case resolutions. The report also notes that progress in extending the Convention to the UK's Overseas Territories, some of which are offshore financial centres, has been slow.