Bribery of a foreign public official definition

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Anti-bribery and corruption—agents and intermediaries

Anti-bribery and corruption—agents and intermediaries This Practice Note deals with agents and other intermediaries in relation to anti-bribery and corruption. It covers what an agent or intermediary is, how working with agents and intermediaries could put a commercial organisation at risk and the steps you could take to mitigate those associated risks. What is an agent or intermediary? Agents and intermediaries are third parties engaged to provide services for or on behalf of your organisation or to represent your interests. This may include: • business consultants • sales agents • third parties retained in relation to government business or actions • introducers • facilitators • lawyers and other professional advisors, and • other third parties who provide services for or on behalf of an organisation in any capacity Whether a specific third-party relationship is an agent or intermediary relationship is a matter of fact in each case. When considering what anti-bribery and corruption procedures to apply to a third-party relationship you may consider the degree to which...

Hospitality and promotional expenditure

Hospitality and promotional expenditure It is common business practice to offer some form of hospitality, or extend some form of promotion, to existing or potential business partners. Hospitality and promotional expenditure encompass a range of activities from providing pens marked with company logos to providing expensive perks such as charter flights to foreign countries or lavish gifts, meals and entertainment. Unfortunately, the Bribery Act 2010 (BA 2010) does not provide any statutory assistance as to what is acceptable and what is not. Knowing what you can and cannot properly do can therefore be difficult and is a matter of judgment. Assistance has been provided by the Ministry of Justice (MoJ) and the prosecuting authorities, including the Serious Fraud Office (SFO) and Crown Prosecution Service (CPS) in the following documents: • the SFO document, ‘Bribery Act 2010: Joint Prosecution Guidance of the Director of the Serious Fraud Office and the Director of Public Prosecutions’, last reviewed in September 2019 (the SFO/CPS guidance) (available to download here). Note...

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Internal investigations policy

Internal investigations policy 1 Introduction 1.1 This policy sets out the responsibility of employees and management in relation to the investigation of fraud, bribery, facilitation of tax evasion and other business crime (together, ‘financial crime’), within [insert organisation name]. We will not tolerate any level of financial crime and are committed to protecting our assets and promoting honesty and integrity. 1.2 [Insert organisation name] is committed to conducting its business in a transparent, honest and fair manner. All staff and third parties working on behalf of [insert organisation name] are expected to adopt the highest standards of accountability in promoting an ethical culture. 1.3 Where financial crime is suspected, [insert organisation name] will commence an independent investigation of the allegations and remediate appropriately. This may include disciplinary procedures, dismissal and/or the provision of information to relevant criminal prosecution agencies. [Insert organisation name] will, in appropriate circumstances, seek to recover funds lost through financial crime committed or facilitated by employees. 1.4 Common scenarios that may trigger an investigation...

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USA: Public Policy Defence to Confirmation of an International Arbitration Award (CME v FMO)

Arbitration analysis: This case involves the opposition to confirmation of a New York Convention arbitration award based on the allegation that the award violated US public policy. First, the court distinguished between motions seeking to vacate (non-domestic) arbitration awards and opposition to confirming such awards. When moving to vacate arbitral awards parties are limited to the grounds set forth in §10 to the Federal Arbitration Act (FAA) (which does not contain a defence based on public policy) and which must be raised within three months; however, when opposing confirmation of an award, parties may assert public policy as a defence as that defence is contained in the New York Convention. The court held that a public policy defence is permissible when opposing the confirmation of an arbitral award if directed at the award itself, but not if the defence is directed to the contract which was the subject of the underlying arbitration. Written by Luis O'Naghten, partner at Nelson Mullins.

Bribery Act 2010 now in force (News, 30 June 2011)

The Bribery Act 2010, which seeks to modernise and consolidate the law on bribery and corruption in the UK, creating two new offences of bribery (bribing someone or being bribed), a new distinct offence of bribery of a foreign public official, and introduces a new corporate offence of failing to prevent bribery, comes into force on 1 July 2011.