The UK Bribery Act 2010 went into effect on July 1, 2011. It establishes four key bribery offenses and provides an "adequate procedures" defense for companies. To utilize this defense, companies must demonstrate they had six principles of anti-bribery procedures in place: 1) proportionate procedures, 2) top-level commitment, 3) risk assessment, 4) due diligence, 5) communication and training, and 6) monitoring and review. The presentation discusses each of these principles in detail and provides examples of how companies can implement anti-bribery programs addressing third-party risks, mergers and acquisitions, and other issues to comply with the new law. It also notes the option of

1. The new UK Bribery Act 2010 and its “actual” impact Neill Blundell Eversheds LLP 5th July 2011 – CFO Event, Celtic Manor

5. Guidance published on 30 March 2011

6. It is now law (1 July 2011)

8. Passive bribery

9. Bribing a foreign public official

14. Contractors

16. Contract

17. Separate Legal Entity

19. But leave it up to the organisation to decide what is appropriate

20. Burden on a company to prove it had adequate procedures

21. Robust and effective anti-bribery systems and controls

24. Clear, practical, accessible, effectively implemented and enforced

25. Can be standalone or not- Tender process - recruitment

27. Existing associated persons

29. Well publicised statement of consequences for employees and business partners

31. Repetition

32. Protection and procedures for whistle blowing

34. Proportionate to organisation’s size, nature and location of its business

36. External Risks : - Country - Sector - Type of transaction - Business opportunity - Business partner eg third parties

38. Know your business relationships eg third parties used by a company

39. Check : - the local risks and relevant laws - reputations - partner’s own internal measures

41. Mergers and acquisitions

43. “Tone from the Top”

44. Cover all levels from board of directors down

45. Cover “associated persons”

46. Clear procedure on the response to incidents of bribery

48. Improve where necessary

49. Report results of review to the Board

51. retain control over investigation and its outcome

52. management of issues & publicity

53. mandatory EU disbarment provisions not applicable

54. POCA requirements may make this inevitableSelf Reporting to SFO

55. Questions?