United Kingdom’s Bribery Act was passed in the British parliament in 2010. The controversial and wide-ranging legislation, rushed through Parliament before the 2010 general election, was originally scheduled to take effect last October.The date of was pushed back twice.
Although the act is primarily designed to tighten the U.K.’s regulatory framework — the first change to the country’s bribery laws in more than a century — its broad jurisdictional reach means that the majority of U.S. public companies are likely to be affected by what some regulatory experts have described as the world’s most draconian anti-corruption legislation.
The Bribery act provides no distinction between Bribery and it facilitation.The Bribery Act marks the beginning of the new era and provides the law firms with new opportunities..
Report by Asha Mathew