Search

The article reports on the assertion of risk consultancy Control Risks Group Ltd. that the Bribery Act, which requires companies to adopt measures to counteract bribery in their operations, can create significant impact on the supply chain business in Great Britain.

The article reports on the new Bribery Act which received a Royal Assent and will come into force in October 2010, introduces an offence of offering or receiving bribes, a specific offence of bribing a foreign public official and a corporate offence of failing to prevent bribery in Great Britain.

The article reports that construction firms sought legal advice upon the Bribery Act's approval. It states that the law will prosecute companies that fail to prevent bribery which is punishable by 10 years imprisonment and unlimited fines. British Expertise chief executive Graham Hand will eliminate corruption abroad. It says that the act also covers facilitation payments. PricewaterhouseCoopers LLP's (PwC) findings show that 47% of 3,000 senior construction employees worldwide commit bribery.

The article discusses various reports published within the issue, including one on the concerns brought by the rapid passage of Great Britain's Bribery Act among British construction firms, and one regarding the Labour Party's plan to make savings in regeneration funding, which makes Labour the more restrained spending cutter.

The article reports that the construction firms fear that they might lose overseas work due to the introduction of the bribery bill which prevents contractors, who commit bribery due to absence of compliance programme, from doing public work in the Europe.

The article presents information on bribery law. The Foreign Corrupt Practices Act (FCPA) is a federal law that prohibits bribery of foreign officials. I many countries payment to a government official to keep or retain business not only is common, it is expected. However, if a company violates the FCPA in the U.S., criminal culpability may go all the way to the board of directors if proper steps have not been taken to ensure that the company complied with the FCPA.

The article presents the views of construction industry professionals on law to deal with bribery and corruption in the industry.

The article focuses on the warning of the legal and risk management experts for engineers to avoid corruption in order to prevent imprisonment or unlimited fines for their companies in Great Britain. Justice Secretary Jack Staw asserts that the government will enforce tough penalties on individuals and companies who will engage in bribery and corruption following the passage of the Bribery Law. The Secretary reveals that the bill is expected by to become a law in the later part of 2010.

The article focuses on the impact of the Bribery Bill on the trucking industry in Great Britain. Among the provisions of the bill, if passed, include the offenses of paying or promising a bribe to induce a person to perform a function, the offenses of receiving a bribe, and the offense of bribing a foreign official. Moreover, the bill is believed to favour the interest of businesses, but may cause difficulties in facilitating payments, unlike the Foreign and Corrupt Practices Act in the U.S.

The article reports that Hollywood producers Gerald and Patricia Green have found guilty of violating the Foreign Corrupt Practices Act (FCPA) and money laundering by a federal court in Los Angeles, California. It notes that the couple had been accused of bribing Juthamas Siriwan, governor of the Tourism Authority of Thailand and president of Bangkok Film Festival, to manage the festival and further their own business interest. It relates that the date of sentence is set on December 17, 2009.

The article discusses the clarifications issued by the Chinese government on its corruption law. The law distinguishes between bribery involving state officials and commercial bribery, although in many respects, the law is unclear over the exact ambit and scope of the bribery laws. The clarification also makes clear that legal persons, including incorporated entities, can be subject to criminal prosecution and provides a definition of bribes. The government's resolve to stop corruption in some criminal cases is also discussed.

The article reports on the additional allegations of bribery filed against the Hollywood producer Gerald Green and his wife Patricia in the U.S. The couple was already charged with bribery in January 2008, and the additional indictment charges were filed for paying $1.8 million to a former governor of the Tourism Authority of Thailand in return for an elite privilege card. The charges are in accordance with the violations under the Foreign Corrupt Practices Act and money laundering.

The article focuses on the indictments against El Paso, Texas-based Hartford Insurance Co. for liquidation due to an alleged bribery scheme filed in the U.S. Bankruptcy Court. The indictments claim that Arnulfo Olivarez acted as middleman in the bribery scheme and details the reasons for the federal investigation. The investigation includes the use of federal funds by the school district and the interstate transactions involving bond finance.

The article discusses the anti-bribery provisions of the U.S. Foreign Corrupt Practices Act, the law barring bribery of foreign government officials in order to obtain or retain business. It highlights the results of a review on foreign enforcement actions that demonstrate the increase in international bribery cases. It emphasizes that political parties in France have accepted bribes between 1989 and 1997 totaling to 30 million Euros. It mentions the decision of Milan court to ban Siemens AG from selling gas turbines to the Italian public administration.

Reports on the increased concentration on enforcement and punishment for violation of Foreign Corrupt Practices Act (FCPA) in the U.S. Anti-bribery provisions of FCPA; Settlement documents published by the Department of Justice and Securities and Exchange Commission explaining the harsh penalties; Settlement of FCPA enforcement action by ABB Ltd. in July 2004.

Discusses United States and foreign laws focused on bribery committed by companies doing business in foreign countries. Foreign Corrupt Practices Act in the US: Anti-bribery treaty adopted by industrial nations of the Organization for Economic Cooperation and Development (OECD); Cooperation in the investigation of bribery cases; Bribery in government and private procurement.

The article presents the opinion of Michael G. Harvey and James T. Rothe, from the Southern Methodist University, regarding the amendment to the U.S. Practices Act (FCPA). They say that the FCPA may be in order but the efforts to strike down it are misguided. In their paper "The Foreign Corrupt Practices Act: The Good, the Bad and the Future," they examine the arguments against FCPA concluding that corruption is an issue, in which individual mangers must constraint. They adds that corruption has become a way of life.