Following on from Regulatory Roundup #13 which covered the Bribery Act, the Government has recently released a press statement about the delay in the publication of guidance on the Bribery Act.
The corporate offence (of up to 10 years imprisonment and unlimited fine) for failing to prevent bribery can only enter force after the guidance is released, which was supposed to be on 1 July 2010.
The guidance on the Bribery Act will now be published in the New Year following a consultation period commencing in September which should give some time for familiarisation, and it is expected the Act will come into force in April 2011.
However, anti-corruption NGO Transparency International UK has published detailed guidance (over 250 pages worth in all which includes case studies) to help companies meet the requirements. The checklist provided with this guidance might be helpful in anticipation of the official guidance.
