REVISED UK BRIBERY ACT POLICIES: FACILITATION PAYMENTS; HOSPITALITY AND CORPORATE SELF REPORTING

On 09 October 2012, the Serious Fraud Office (SFO) made public its revised policies on facilitation payments, business expenditure (hospitality) and corporate self-reporting. The purpose of the revision was to “reinstate the SFO’s primary role as an investigator and prosecutor of serious or complex fraud, including corruption; ensure there is consistency with other prosecuting bodies; and meet certain OECD recommendations”. The revised statements of policies were announced with immediate effect and superseded any statement of policy previously made regarding the issues.