The long arm of the [British] law
Posted on September 2nd, 2012 by haiku
Your company may be American but if it brushes up against the United Kingdom, it could be subject to the long arm of broad new British bribery rules.
The U.K. Bribery Act, which came into effect July 1, can be enforced on foreign companies and individuals who carry on a part of the business in the United Kingdom, even if the bribery took place in another country.
It not only holds individuals and companies liable for unlimited fines and 10 years jail time for bribing on the company’s behalf, but it also holds them accountable for failing to prevent bribery. “Someone” could be an agent of the company.
Campaign contributions?
Filed under: haiku, Politics & economics
Don’t the yan…. Americans have something very similar?
If your company is quoted on the US stock exchange then it becomes subject to US company laws so what is the difference?
No worse than double taxation, which is criminally invalid.