The Bribery Act 2010 comes into force today, 1 July 2011. The Act introduces a tough new regime, which, in many respects, is more stringent, and broader in its jurisdictional reach, than even the US Foreign Corrupt Practices Act.
All businesses therefore need to ensure that their compliance procedures and their systems and controls are "adequate" for the purposes of the legislation. Only procedures that satisfy this requirement will operate as a defence to the new offence of a commercial organisation failing to prevent bribery for its benefit by a person associated with it.
Hogan Lovells has a leading team of lawyers across the globe with over 25 years' experience of dealing with all aspects of bribery and corruption. We have extensive experience of the new Bribery Act, having been closely involved with its progress through Parliament, and having advised a number of entities on the practical implications of this tough new regime.
As a result of this experience, we are well positioned to help you deal with the impact of the Act