Update on UK Bribery Act 2010 — Guidance Published and Implementation Date Announced
Wall Street Lawyer
The Government of the United Kingdom published its delayed guidance about the Bribery Act 2010 entitled “Guidance about procedures which relevant commercial organizations can put into place to prevent persons associated with them from bribing” on March 30. At the same time it confirmed that the Act will come into force on July 1.
The purpose of the Guidance is to assist commercial organizations and individuals in interpreting and complying with the provisions of the Act and, in particular, to understand what procedures must be in place if commercial organizations are to have a defense (indeed the only defense available) to the strict liability offense created by § 7 of the Act of failing to prevent bribery.