Archive for May, 2011
U.K. Bribery Act
Any company doing business in the U.K. is well aware of the importance of July 1, 2011. That is the day the U.K. Bribery Act takes effect. Companies, and notably their senior officials, may be subject to civil and criminal penalties for engaging in bribery or not instituting policies and procedures to prevent such activity by personnel on behalf of the company. This is the latest and most far-reaching example of the movement to crack down on corruption across the globe.
What do you think . . . Does corruption necessarily “grease the wheels” in some countries or is corruption an obstacle emerging markets must eliminate to fully realize their economic potential?
