Companies Look Out: Bribery Act In Force

Companies need to be on the alert. There is now no ‘grace period’ as the Bribery Act has come into force as of Monday 4 July 2011.

Strict new rules will reform the antiquated UK laws and clamp down on the bribery of public officials and corporate executives.

David Park, Employment Law specialist said: ‘We are concerned that a lot of companies haven’t really cottoned on to the introduction of this new Act’.

Individuals found to be in breach of the new rules could face up to 10 years in prison, with their company risking an unlimited fine if it fails to prevent bribery.

David warns there is just one statutory defence against firms being prosecuted - to show the company has ‘adequate procedures’ to prevent bribery - and that rules will be enforced immediately.

David adds: ‘Companies must be aware that putting in place procedures to ensure compliance with the Act will take time. They need to act now, or they could find themselves in an awkward situation pretty rapidly.’

If you feel you may need advice Oglethorpe, Sturton & Gillibrand can advise you on the latest law in this field. Call David Park on 01524 846846 for further information.