February 1, 2011 7:06 PM
U.K. Bribery Act Gets Delayed Again
Posted by Tom Huddleston Jr.
U.K. publication LegalWeek reports that the U.K. Ministry of Justice has decided once again to delay implementation of the new U.K. Bribery Act, which is meant to combat corporate corruption.
The act--similar in many ways to the U.S. Foreign Corrupt Practices Act--was set to go into effect on April 1. Instead, it has been delayed to give companies more time to prepare for its implementation. The latest delay comes some six months after U.K. officials first pushed back the act's start. That delay was also aimed at giving companies a head start on preparing for the new law.
In this instance, an MoJ spokesperson told LegalWeek: "We are working on the guidance to make it practical and comprehensive for business. We will come forward with further details in due course. When the guidance is published it will be followed by a three-month-notice period before implementation of the Act."
As The Am Law Daily wrote on January 18, some firms are looking to hire corruption specialists in advance of the changes that the act will bring. Those changes include making companies liable for actions performed by third parties on their behalf.
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