FCA Proving Successful in Bribery Cases

According to recent reports, the Serious Fraud Office have struggled to complete a single corporate prosecution in relation to bribery; whilst the Financial Conduct Authority have successfully penalised two large firms, in quick succession.

The penalties against the two firms, imposed by the Financial Conduct Authority, exceed a combined £2 million fine, and relates to inadequate anti-bribery systems and controls.

Part of the reason that the Financial Conduct Authority are able to issue penalties against firms, in relation to bribery cases, so quickly is because they have the ability to impose a fine on regulated businesses, without the need for lengthy investigations.

Whilst latest reports would suggest that the Financial Conduct Authority are proving more successful in penalising firms in relation to bribery matters; businesses are reminded that the Bribery Act, which came into force in 2011, imposes strict obligations on businesses active in the UK.

However, at Royds, we appreciate and understand that there are a myriad of problems and issues which can evolve from running a business, or selling shares – and as such, we have a dedicated team who can assist you. We have particular expertise in advising on:

• Mergers & Acquisitions
• Shareholder agreements
• Special Responsibilities
• International Operations
• Anti-Bribery Policies
• Employment Contracts

To find out how we can assist you please contact Claus Andersen, Partner in Corporate and Commercial or John North, Head of Corporate and Commercial on 020 7583 2222."

Tags: Bribery, Anti-corruption, corporate, commercial, International