France has introduced a draft bill which proposes to establish a new anti-corruption authority, which will have the power to impose administrative sanctions and conduct US-style monitoring of companies’ anti-bribery policies.
This is just one of a number of recent developments in anti-corruption laws from some of the world’s largest economies:
- China has amended the thresholds at which penalties will be imposed for bribery offences
- Japan’s Ministry of Economy, Trade and Industry has published updated guidance stating that congratulatory small gifts, business entertainment and travel expenses for the purposes of building relationships may not amount to bribery
- Russia has introduced new legislation providing for administrative liability on Russian and foreign legal entities in respect of bribery directed against the interests of the Russian Federation
- Germany has extended the offence of commercial bribery to acts or omissions by agents/employees with regards to the purchase of goods or services without company approval
- Italy has introduced new legislation providing for additional pecuniary sanctions for bribery offences
- Spain has modified the Spanish Criminal Code to provide for additional sanctions for bribery offences, focussing in particular on disqualification from public office
- The United States has issued an updated Resource Guide to the U.S. Foreign Corrupt Practices Act, which had originally been issued in 2012
For more information about French anti-corruption reform, click here.
For a summary of global anti-bribery laws, download Latham’s AB&C Laws app.
The AB&C Laws app covers anti-corruption laws in major jurisdictions in Asia, the Middle East, Europe, and the US, namely: China, France, Germany, Hong Kong, Italy, Japan, Russia, Saudi Arabia, Singapore, Spain, the UAE, the UK, and the US. The app is of particular interest to chief compliance officers, compliance personnel, general counsel, senior management, procurement and supply chain managers and sales agents, among other executives, and allows them to have a working knowledge of relevant anti-bribery laws.
The AB&C Laws app is researched and compiled with input from across the firm’s global network, leveraging the broad expertise and knowledge within the firm’s market-leading White Collar Defense and Government Investigations Practice.
The app features a number of important resources and information, such as the legislative framework, key elements of relevant offences, territorial and extra-territorial application, limitation, enforcement, penalties and sanctions, and official guidance (where available) including steps which can be taken to reduce the risk of bribery and corruption, all incorporating pop-up source references and definitions.