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The UK's Impending Power Play and Why It Matters to You
Over the past several years, the United Kingdom (UK) has been flexing its muscles in the global anti-corruption arena with the imposition of large penalties against companies involved in foreign-bribery offenses, focusing on individual accountability for corporate officials, close coordination with U.S. prosecutors in parallel investigations, and enforcement tools such as self-disclosures, settlements and negotiated plea agreements.
The UK added major artillery to its arsenal with the enactment of the UK Bribery Act on April 8, 2010. The new law, which replaces the UK's current piecemeal anti-corruption laws found both at common law and in a statute dating back to 1889, is both broader and stricter than the Foreign Corrupt Practices Act (FCPA). Companies with international operations are on high alert to see how the new laws will be enforced.
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