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Tougher Revised UK Bribery Act Policies

BY Mauro M. Wolfe, Jonathan Armstrong
November 27, 2012

In a development that took some by surprise, on Oct. 9, 2012, the UK's Serious Fraud Office (SFO) issued new policies under the Bribery Act 2010, which could change the way some companies do business. It is critical for corporate counsel, white-collar and corporate practitioners to understand the changing contours of the Bribery Act 2010 and the impact the changes have on defense strategies, defenses, and counsel to their companies.

Now more than ever, understanding the similarities and, more importantly, the differences between the Bribery Act 2010 and the U.S. Foreign Corrupt Practices Act (FCPA) is paramount. For those unfamiliar, the SFO is the UK independent government agency that investigates and prosecutes serious or complex fraud, as well as corruption. Its powers are similar in some respects to those of the U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice (DOJ). The new policies are related to facilitation payments, business expenditure (hospitality) and corporate self-reporting. See www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2012/revised-policies.aspx. The announcement is meant to revise existing SFO pronouncements on the enforcement of the Bribery Act 2010, which took effect on July 1, 2011.

The Revisions

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