Bribery Act 2010: compliance and enforcement issues for financial institutions

Consideration of the implications of the Bribery Act 2010 for banks and other financial institutions (including insurance firms, asset management firms, hedge funds and private equity houses), and the practical steps firms should take to comply with the new regime. The Act came into force on 1 July 2011.

For a general overview of the Act, see Practice note, Bribery Act 2010, and for information on the background to the Act, see Practice note, Bribery: law reform.

This note is in the process of being updated to reflect the FCA’s report of the findings from its thematic review of how commercial insurance brokers manage bribery and corruption risk, which was published on 14 November 2014 (see Legal update, FCA thematic review finds commercial insurance intermediaries must improve management of bribery and corruption risk).

Aaron Stephens and Daren Allen, Partners, Berwin Leighton Paisner LLP


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