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Know what’s ahead

What the UK Bribery Act will mean for financial institutions

Know what's ahead - What the UK Bribery Act will mean for financial institutions

 

Background

With the advent of the new UK Bribery Act and continued regulatory developments, anti-bribery and corruption compliance should be a high priority for financial institutions. When the new legislation comes into force on 1 July 2011, it will significantly strengthen the UK law in this area.

Financial institutions need to act now, not just to familiarise themselves with the new law but to ensure compliance programmes are reviewed in accordance with the provisions of the Act. In order to do this, companies need to first understand more about the new Act including the penalties and offences, the defence of ‘adequate procedures’ and the differences between the new UK legislation and the US Foreign Corrupt Practices Act (FCPA).

Deloitte anti-corruption specialists have helped some of the world’s leading companies navigate the challenges arising from anti-corruption legislation.

Our clients seek assistance on a broad range of areas including

  • Adequate procedures and anti-bribery and corruption programmes;
  • Forensic Data Analytics;
  • Business Intelligence Services;
  • Transactional Due Diligence; and
  • Forensic Investigations

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