The Isle of Man’s Bribery Bill 2012 is expected to come into force in 2013 and replaces the existing Corruption Act 2008. The main change in the Bill is to introduce an offence of failing to prevent bribery, based on the provisions in the UK Act, where an organisation may be liable for acts committed by […]

 The FSA’s report following its thematic review into anti-bribery and corruption (ABC) systems was published in March 2012. This review was conducted across 15 investment banks and smaller firms specialising in investment banking business in the UK between August 2011 and January 2012. The FSA also consulted with Government, as well as other interested stakeholders […]

Solicitor, Majed Iqbal, has been sentenced to jail for five years for bribing witnesses in a Crown Court trial in which his client faced charges of fraud. The fraud had led to victims losing a combined £310,000 which they had been persuaded to invest into a non-existent new energy drink. Mr Iqbal was found to […]

Transparency International’s 2012 Corruption Perceptions Index (CPI) 11 Jan 2013 Transparency International’s 2012 CPI was published on 5 December 2012. This is available at here. http://cpi.transparency.org/cpi2012/ There are no particular surprises in the ranking of the 10 most corrupt countries: Click here to view table. http://www.anticorruptionlaw.com/blog.aspx?entry=4505 The 10 least corrupt countries include familiar names also: […]

– End Update 2012 – Fines imposed by the Financial Services Authority (FSA) since 1 January 2012 (through 20 December) have totalled £310 million, more than four times the total for 2011 (see Figure 1). This increase is due to a handful of very large fines, including the £160 million fine against UBS for LIBOR […]

Second prosecution under the Bribery Act, but still no guidance on key issues 07 Jan 2013 A man who tried to bribe a council licensing officer has been convicted of an offence under the Bribery Act 2010 (the “Act”). This is the second prosecution under the Act, but once again relates to individual bribery of […]

The Bribery Act strikes again 07 Jan 2013 The Bribery Act has made the news again following the conviction of a would be taxi driver. Earlier this week, at Minshull Street Crown Court in Manchester, Mr Mawia Mushtaq became the second person convicted of an offence under the Bribery Act by attempting to bribe a […]

A NEW BILL HAS BEEN SIGNED INTO US LAW, IMPOSING ASSET-FREEZING REQUIREMENTS ON US FINANCIAL INSTITUTIONS 27 Dec 2012 On 6 December 2012, the US Senate passed the Sergei Magnitsky Rule of Law Accountability Act (the “Act”). The measure had earlier passed the US House of Representatives on 16 November. The bill was presented to […]