
Frequently Asked Questions on Anti-Bribery and Corruption
Beschreibung
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The Bribery Act became the law of the land in July 2011. It abolished all existing U.K. anti-bribery laws and replaced them with a suite of new regulations decidedly different and more strenuous than what has come before. Under it companies found noncompliant will be open to billions in penalties and remediation costs, and managers will be open to prosecution if anyone associated with their company commits an offence covered by the act. As employees in nearly all departments will share responsibility for ensuring that adequate procedures are in place and enforced, there is a screaming need for practical, jargon-free guidance on the subject. This book fills that need. It arms managers and advisors with the knowledge and tools they need to implement, communicate and test controls and procedures that not only comply with but exceed the new anti-bribery requirements. It also offers priceless pointers on how to effectively react to bribery allegations if and when they occur.
- Packed with takeaway tips and checklists that put crucial information at readers' fingertips
- Written by a chartered accountant and compliance expert, the book offers practical steps managers should take to guarantee company compliance
- Describes best practices in anti-bribery and corruption compliance in all key business areas, including accounting, sales and marketing, management, legal, and internal auditing
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Inhalt
- Intro
- Title Page
- Copyright
- Dedication
- Frequently Asked Questions
- About the Author
- Acknowledgements
- Bribery Acronyms and Terms, and a Quick Index
- Introduction
- Chapter 1: Timeline
- Up to 1970: The Dark Ages for Commercial Bribery
- 1971: Lockheed
- 1972: Watergate
- 1976: Post-Watergate Repercussions
- Mid-1970s: Easing of Tensions in the Cold War
- 1977: Foreign Corrupt Practices Act Passed
- 1978: First FCPA Settlement
- 1988: Amendment of the FCPA
- 1994: The 'Cash for Questions' Scandal
- 1997: OECD Convention
- 1998: Further Amendments to the FCPA
- 1990s Onwards: Vigorous Prosecution of the FCPA
- 1996-2010: Multi-Lateral Anti-Bribery Treaties
- 2001: UK Enacts the OECD
- 2003: Draft UK Corruption Bill
- 2003, 2005, 2007 and 2008: OECD Criticism of the UK
- 2008: Balfour Beatty Settles Bribery Allegations in the UK
- 2008: Siemens Settlement
- 2009: Second UK Bribery Bill
- 2010: BAE Settlement
- 2010: UK Bribery Act Passed, then Delayed
- July 2011: UK Bribery Act Comes into Force
- September 2011: First Prosecution under the Bribery Act
- 2012 Onwards
- Chapter 2: Who Pays Bribes?
- Bribery in Business
- Bribery in Sport
- Bribery in Politics
- Bribery in the Media
- Chapter 3: What Are the Key Sets of Rules that Govern International Bribery?
- Introduction
- An Essential Summary of the FCPA
- An Essential Summary of the Bribery Act
- An Essential Summary of the OECD Convention
- Chapter 4: Frequently Asked Questions
- 1. Is Bribery the Same as Corruption?
- 2. Why Is Corruption Bad?
- 3. When Does a Gift Become a Bribe?
- 4. If I Pay Someone a Commission, Am I Committing a Bribery Offence?
- 5. What Are the Causes of Corruption?
- 6. Who Polices and Prosecutes International Bribery?
- 7. What Is the Difference in Focus Between the DOJ and the SEC?
- 8. Why All the Fuss About the Bribery Act?
- 9. Is the Bribery Act Stricter Than the FCPA?
- 10. Who Is Covered by What? The Scope of the Various Laws
- 11. Are Companies Liable for Bribes Paid by Their Employees, Agents, Subsidiaries and Affiliates?
- 12. Can a Parent Company be Liable Under the FCPA for Accounting Violations Committed by an Affiliate or Subsidiary?
- 13. Can Company Managers be Personally Liable for Bribery?
- 14. Does the Bribery Act have Retrospective Application?
- 15. Who Are Foreign Officials?
- 16. What Are the Affirmative Defences and Exceptions Under the FCPA?
- 17. Can I Do Business in Some Parts of the World Without Paying Bribes?
- 18. Are Facilitation Payments Legal?
- 19. Can I Obtain Guidance About Whether My 'Novel' Marketing Scheme will be Viewed as Bribery?
- 20. What Are the Penalties for Bribery Under the FCPA?
- 21. What Are the Penalties for Bribery in the UK?
- 22. How Is an Actual FCPA Fine Calculated? Worked Example: BAE Systems
- 23. How Is Disgorgement Calculated?
- 24. What Happens to Fines and Penalties Paid to Settle Bribery Actions?
- 25. How Does a Settlement or Plea Agreement Work? Part 1: The US Experience
- 26. How Does a Settlement or Plea Agreement Work? Part 2: The Holder, Thompson and McNulty Memos, the Filip Principles, and the Seaboard Decision
- 27. How Does a Settlement or Plea Agreement Work? Part 3: The UK Experience
- 28. What Is a Compliance Monitor?
- 29. What Is Debarment?
- 30. How Much Does It Cost to Fully Respond to an International Bribery Investigation and Prosecution?
- 31. When Do Old Bribes Become Ancient History?
- 32. Should I Self-Report?
- 33. How Do the Money Laundering Laws Change the Approach to Self-Disclosure in the UK?
- 34. What Is Privilege and Why Is It Important?
- 35. Can I Acquire Bribery Problems During a Corporate Takeover?
- 36. What Do I Do If I Discover a Potential Bribe?
- 37. I've Just Received a 'Section 2' Notice. What Do I Do?
- 38. Do I Share in the Fine If I 'Blow the Whistle' on My Employer?
- 39. How Can I Deter Bribery?
- 40. What Accounting Records Must I Keep?
- 41. What Are the Main 'Red Flags' of Bribery?
- 42. Are Any of My Employees Receiving Kickbacks from Suppliers?
- 43. How Can I Stay Up To Date?
- Chapter 5: How Do I Set Up Proportionate Yet Effective Anti-Bribery Compliance Procedures?
- Introduction
- Designing Effective Compliance Procedures
- Three Essential Prerequisites
- World-Class Internal Controls
- Properly Managing High-Risk Transactions
- Due Diligence on Business Partners
- Communication and Training
- Speaking Up and Whistleblowing
- Chapter 6: How Do I Carry Out a Review to Detect and Deter Bribery?
- Introduction
- Objectives: The Key Questions to Answer
- Interviewing
- Document Review and E-Disclosure
- Forensic Accounting and Financial Data Mining
- Reporting and Evaluation
- Maintaining Proportionality
- Some Concluding Comments on the Practical Aspects of Overseas Compliance Reviews
- Chapter 7: Cautionary Tales-What Happens If You Get Caught?
- Introduction
- Siemens
- The Nigerian 'Bonny Island' Scheme (The TSKJ Consortium, Comprising KBR, Technip, Snamprogetti and JGC)
- Panalpina and Customs Violations
- BAE Systems
- The Oil-for-Food Programme
- The 'Gun Sting'
- Chapter 8: What Are My Predictions for 2012 and Beyond?
- The US Authorities Will Use Other Legislation to Expand the Reach of the FCPA
- There will Continue to be Calls for the FCPA to be Modified
- Subcontractors Will Become the New Commercial Agents
- The US Government Will Continue to Prosecute Bribery Extremely Harshly
- Serious Bribery Cases Will Increasingly Require Admissions of Bribery
- International Prosecutors Will Work More Closely Together
- We Will Have Some Early Bribery Act Prosecutions
- Real-Time Financial Analytics Will Flag and Delay Suspicious Transactions Before They are Processed
- Follow-On Civil Claims Will Become More Prevalent
- Chapter 9: Appendices
- Appendix 1: The FCPA (Extracts)
- Appendix 2: The Bribery Act (Extracts)
- Appendix 3: Section 386 of the Companies Act 1989: Accounting Provisions (Extract)
- Appendix 4: The OECD (Extracts)
- Appendix 5: Which Countries have Ratified the OECD?
- Appendix 6: DOJ Opinion Procedure Releases
- Appendix 7: Johnson & Johnson: Enhanced Compliance Undertakings
- References
- Get the Text of the Statutes on Your Smartphone from the Following QR Codes
- Do I Need to Read this Book (Again)?
- Index
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