On 8 April 2010, the UK Bribery Act became law. The Act is expected to come into force in October and will radically transform the existing UK anti-corruption legislative framework. It is intended to help tackle the threat bribery poses to economic progress and development around the world by consolidating and clarifying the law on bribery, introducing a new strict liability for corporates and a "no-fault" discrete offence of bribing a foreign official. It will also have a significant impact on foreign companies who do business in the UK and far reaching compliance consequences for many public and private organisations.
This Act goes beyond the requirements of the US Foreign Corrupt Practices Act and therefore even companies which have controls to meet these requirements, must review these in light of this new legislation.