The upcoming implementation of the Bribery Act 2010 next year continues to be a major concern for UK businesses, but with Christmas approaching the Serious Fraud Office (SFO) has offered some extra help.
The question on the lips of every UK company is “how will corporate hospitality be dealt with under the new legislation?” The SFO have volunteered a preliminary answer. Richard Alderman, Director of the SFO has said that ‘sensible and proportionate expenditure on hospitality will remain perfectly lawful under the Bribery Act’, and that the SFO ‘will be happy to help by publishing its views.’ This will follow the Ministry of Justice’s final guidance on the act, due in January, and the Attorney General’s guidance to prosecutors.
This leaves plenty for businesses to look forward to in the new year but it remains to be seen just how practical all of this guidance will be. Meanwhile, enjoy a very hospitable Christmas.
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