Transparency International, an anti-corruption organisation has released results of a survey in relation to corruption and bribery which spans over
Rolls-Royce publically announced that it has provided information to the Serious Fraud Office (SFO) in relation to bribery and corruption activities that have taken place overseas amongst its intermediaries.
The implementation of the Bribery Act 2010 ("the Act") - which was scheduled to come into force in April of this year - has been delayed by the Government.
Provisions relating to bribery in the field of contracts and public procurement are not new.
Although the new UK Bribery Act 2010 (the "Bribery Act") is similar in many respects to the existing anti-bribery provisions of the US Foreign Corrupt Practices Act of 1977 (as amended) ("FCPA"), overall, the Bribery Act is considered to be broader and more robust than the FCPA.
The Bribery Act has been introduced as a result of pressure to reform the law regarding bribery and corruption in the UK as the current law is out of date, ineffective and not suitable for the modern global economy.
The Bribery Bill, which has been introduced to modernise and consolidate UK laws on bribery and corruption, has passed its first reading in the House of Commons.