The Magazine of Corporate Responsibility

Tag Archive for ‘Mike Koehler’

New UK Bribery Law Could Have International Impact

The UK’s Bribery Act 2010, set to take effect in April, goes much further than the U.S. Foreign Corrupt Practices Act, which has been used aggressively by American prosecutors against multinational companies in bribery cases worldwide. Among other provisions, the new law creates a “failure to prevent bribery” offense which applies whether or not any conduct in the bribery scheme took place in the UK.

Development Banks and Investors Press Anti-Corruption Efforts

The development banks agreed that companies debarred for corruption by any one of them may be sanctioned for the same misconduct by other participating banks. Separately, an investor coalition representing firms with $1.7 trillion in assets under management has asked 21 major companies to improve disclosure of bribery and corruption risks and avoidance measures.

Finance Reform Bill Could Increase Whistleblower Payouts

The legislation would require the Securities and Exchange Commission to award whistleblowers up to 30 percent of the fines collected by the government for providing “original information” regarding violations of securities laws. Based on some recent cases involving the U.S. Foreign Corrupt Practices Act, payouts could be in the tens of millions of dollars.