11 January 2013
Following bribery allegations, Rolls-Royce has appointed Lord Gold to review its compliance procedures. From the RNS:
“This follows the previous announcement by Rolls-Royce that it has provided information to the Serious Fraud Office (SFO) relating to concerns about bribery and corruption involving intermediaries in overseas markets.”
Lord Woolf performed a similar function for BAE Systems in 2007-8.
29 October 2012
The Serious Fraud Office published revised policies on facilitation payments, business expenditure (hospitality) and corporate self-reporting on 9 October 2012. The revised policies can be read here.
A note by White & Case on the implications for companies of these revised policies is here.
17 October 2012
The Serious Fraud Office has added a new page of “useful links” to its pages on the Bribery Act 2010.
28 September 2012
Law firm McGuire Woods reports (unsourced) that the Director of the SFO has allayed some concerns about the impact of the Bribery Act 2010 on corporate hospitality, quoting Mr Green as saying:
“We are not interested in that sort of case. We are interested in hearing that a large company has mysteriously come second in bidding for a big contract. The sort of bribery we would be investigating would not be tickets to Wimbledon or bottles of champagne. We are not the “serious champagne office”.”
McGuire Woods article here.
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