The UK
Bribery Act 2010 came into force more than a decade ago, with
the aim of strengthening regulation in the fight against corporate
crime. The act, which applies to any UK citizen, people with a
close connection to the UK, and any relevant commercial
organisation, makes it an offence to bribe or be bribed at home or
abroad.
Financial services organisations can continue to minimise their
risk of falling foul of the act in a fast-moving political and
regulatory world.
Breaking down the detail
Since April 2011, the
Bribery Act 2010 has applied to UK citizens, persons with
"a close connection with the UK" (which includes any
residents of the UK and UK-incorporated entities), as well as
"relevant commercial organisations" — which means
any partnership or body corporate (wherever incorporated) which
carries on a business, or part of a business, in any part of the UK
(England and Wales, Scotland or Northern Ireland).
