Bribery Act comes into force

By LBV

04 May 2011

After several setbacks and false starts, the Bribery Act will finally come into force on 1st July 2011. Although business owners will be breathing a sign of relief that reasonable and responsible corporate hospitality will not be criminalised, as sensationalist headlines in the press had previously warned, the Bribery Act still has potentially far-reaching consequences for SME's. Whilst the recently released guidance for businesses has gone some way to ease the hysteria surrounding the topic, business owners should be warned that now is the time to act.

In order to assist other business owners in the region, we will be holding a free seminar on Wednesday 18th May which I will be delivering.

With the current bribery laws being over 100 years old, the Bribery Act 2010 will be hard-hitting on businesses. There will be tough penalties, such as unlimited fines and imprisonment for business owners and directors found guilty of bribery offences. Business owners may also find themselves liable for any corruption undertaken by employees - ignorance will be no defence - directors must have demonstrable, active anti-bribery and anti-corruption policies and procedures in place.

Our free of charge seminar, to be held at the Dunkenhalgh Hotel on Wednesday 18th May will dispel all the myths surrounding the Act, help you to understand your obligations, identify key risk areas and provide practical advice on what you need to do to prepare for the Act's implementation.

For more information on the free event, click here

Paul Schofield
Farleys

 

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