Corruption crackdowns
June 01, 2012 | BY
clpstaff &clp articlesOn the eve of the first anniversary since the UK Bribery Act came into effect, how have multinationals and PRC companies responded to this far-reaching and powerful Act?
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It is almost a year since the UK Bribery Act came into force on July 1 2011. The impact of the Act on PRC companies, which face particular challenges in the anti-corruption area, is still being discussed. Multinationals doing business in China are still ahead of their domestic counterparts in realising and acting upon the implications of the Act. Recent decisions from the UK and the US emphasise the determination of regulators to crack down on wrongdoing taking place outside of their borders. Considering that organised and resourced multinationals run into trouble, the Act exposes domestic companies to a high degree of risk.