 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Bribery Act set for July 1st  Businesses will have three months to get corporate legal services to assess whether they will comply with new anti-corruption legislation. Following a consultation with the business community, the Ministry of Justice published guidance on the new Bribery Act before it comes into force on July 1st. Justice secretary Kenneth Clarke said the government has listened to the concerns of businesses, and is confident it will be workable. He explained that "no honest business" will have to spend a lot of money on complying with the new rules. "I hope this guidance shows that combating the risks of bribery is largely about common sense, not burdensome procedures," he explained. The desire to toughen up anti-corruption measures has been supported by businesses, but concerns were raised about how clear the act was, particularly in relation to corporate hospitality. Dr Adam Marshall, director of policy and external affairs at the British Chambers of Commerce, said he has been "encouraged" by the government's efforts to make the legislation clearer. Meanwhile, the CBI welcomed the publication of the guidance and agreed that the government has "clarified a number of important areas". The business body warned, however, that it will be up to the Serious Fraud Office to take a "common sense approach" to enforcing the law. Posted by Alex McLean 
Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |