Changes Likely For The Australian Foreign Bribery Regime

For some time now, the Australian government has been reforming a number of aspects of the regulatory framework against improper corporate conduct. These reforms include the consultations on deferred prosecution agreements, possible changes to whistle-blower laws, and the prohibition of false accounting. Now, the Commonwealth Government's attention is turning to the foreign bribery regime, with significant changes likely to be on the way and major impacts for directors and corporations. The proposed reforms present a greatly increased risk for liability for both corporations and directors. It is important that these parties understand the changes and how they can ensure compliance in order to combat the risks. This post will discuss some of the key proposals.