Corporate Team Partner, Craig Malarkey comments;
“This is a high profile example and one which carries an extremely large penalty, however, the actual basis of the prosecution applies equally to all companies and businesses operations. The Bribery Act 2010 came into force in July 2011 and still over 5 years later many businesses do not have compliant polices and procedures and this case highlights the importance of making sure these polices are put in place and adhered to.
This case is further reason for businesses, new and established, to review their current polices (and look at gaps that might exist in their paperwork), as advised by Trainee Solicitor, Michael Stevens in his recent blog article: Terms & Conditions: Why A Business Needs Them & Should Update Regularly
If you require any guidance around your requirements or in connection with the policies or staff training do not hesitate to contact Tilly Bailey & Irvine's corporate and employment teams.”
The UK's Serious Fraud Office (SFO) found conspiracy to corrupt or failure to prevent bribery by Rolls-Royce in China, India and other markets. The firm apologised "unreservedly" for the cases spanning nearly 25 years. A UK court ruled the aerospace firm would pay £497m plus costs to the SFO, which conducted its biggest ever investigation into the firm. The SFO revealed 12 counts of conspiracy to corrupt or failure to prevent bribery in seven countries - Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia. The wrongdoing involved Rolls-Royce's "intermediaries", which are local companies that handle sales, distribution and maintenance in countries where the British firm does not have enough people on the ground.