4th meeting september 23rd 2010 waterfront bar bistro, ipswich
DESCRIPTION
4th Meeting September 23rd 2010 Waterfront Bar Bistro, Ipswich The UK Bribery Act and the considerations for UK exporters – Birketts llp Special Guest appearance from Mr Damion Potter, Head of Commercial Section, British Embassy - Moscow. 23 rd September 2010. Agenda. - PowerPoint PPT PresentationTRANSCRIPT
4th Meeting
September 23rd 2010Waterfront Bar Bistro, Ipswich
The UK Bribery Act and the considerations for UK exporters – Birketts llp
Special Guest appearance from Mr Damion Potter, Head of Commercial Section, British
Embassy - Moscow
Agenda
23rd September 2010
5pm – 5:25pm Networking
5:25 – 5:30pm Welcome by Jim Fanshawe
5:30 – 5:45pm “The Bribery Act 2010” – Leah Finnegan, Birketts llp
5:45 – 6:00pm “Russia – a modern view” – Damion Potter, British Embassy - Moscow
6:00 – 6:10pm Any Questions?
6:10 – 6:15pm SITG Update – Jim Fanshawe
6:15 – 7pm Buffet & Networking
THE BRIBERY ACT 2010 Leah Finnegan Birketts LLP
WHY NEW LEGISLATION?
• Outdated and confusing legislation
• Difficult to prosecute • Pressure from Organisation for Economic Co-operation and Development (OECD) to update laws
KEY PROVISIONS
• Comes into force in April 2011
• The Act applies to:
– all UK companies, partnerships, citizens or residents
– all foreign companies operating in the UK
– non UK persons where any part of the offence takes part in the UK
OFFENCES
1. Making a bribe – the ‘active offence’the promise or giving of an advantage with the intention of inducing or rewarding the improper performance of a relevant function or activity.
2. Receiving a bribe – the ‘passive offence’The receipt or acceptance of an advantage for the improper performance of a relevant function or activity
‘Improper performance’ breach expectation of impartiality or good faith. Test is whether act breaches what would be expected by a reasonable person in the UK.
OFFENCES (cont.)
3. Bribing a Foreign Public Official
4. ‘Corporate Offence’ of failing to prevent bribery
A company can be held liable for the act of ‘ associated persons’ committing an act of bribery whilst acting on behalf of a company.
PENALTIES
• Fines – unlimited
• Prison
• Debarment from public sector contracts
AREAS OF RISK?
• Use of agents
• Facility payments
• Corporate hospitality
GOVERNMENT GUIDANCE
Sets out key principles for preventing bribery:
• Risk assessment
• Top level commitment
• Due diligence
• Clear, practical and accessible policies and procedures
• Effective implementation
• Monitoring and review
NEXT STEPS
• Review or implement policies and procedures
• Board responsibility
• Employees
• Assess suppliers and sub-contractors
Russia – a modern view
Mr. Damion PotterHead of Commercial SectionBritish Embassy - Moscow
SITG Update
• Website now ready!!!
• www.sitg.org.uk
• Get involved and use it!
• Previous presentations for reference
• Knowledge Database (still being populated)
• Ask the experts forum
• News Section (could contain SITG members news if
appropriate)