• The Bribery Act 2010 - A Brave New World for Business?
  • April 26, 2010 | Author: John Peter Rupp
  • Law Firms: Covington & Burling LLP - Washington Office ; Covington & Burling LLP - London Office
  • On 8 April 2010, the UK Bribery Bill received Royal Assent as the Bribery Act 2010 (the “Act”). The Act, which became law in the final days of the current Parliament, represents the most fundamental overhaul of the UK’s anti-bribery regime in over 100 years. The Act’s stated aim is to reform and modernise the UK’s bribery laws. In furtherance of that goal, the Act introduces the concept of “improper performance” as the basis for the offences of giving and receiving bribes. Further, these offences will apply to instances of private sector bribery connected with the activities of a business, trade or profession, whether committed in the UK or abroad. The Act also creates a separate offence of bribing a foreign public official. Most significantly for companies and partnerships that carry on all or part of their business in the UK, the Act creates a new offence of failure by a commercial organisation to prevent bribery.