Is your business Bribery Act compliant?

The UK Bribery Act came into force last week, but does your business already have the necessary procedures in place to prevent bribery?
Speaking at the CFO Event yesterday, Eversheds partner Neill Blundell, explained that it’s not too late to establish the corporate defence of having adequate procedures, provided procedures get underway as soon as possible.
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Employee or Director bonus
So, how does a whopping bonus paid to an employee or director differ from bribing or being bribed then?
Bribery / Facilitation payments
This is so unclear as to be ridiculous. Are commisison payments to become a thing of the past? Can I no longer reward people for introducing new clients?
Is £20 reward for introducuing a new client a bribe, a facilitiation payment a reward or what? Or if £20 is ok what about £200, or £2000?
A reward that is a drink, a meal, a day at the races, a week in my apartment in Spain - what are the perameters?
Can you get round the system by setting up a written agreement - commission terms etc?
Any ideas?
Shooting business in the foot
Yet again British business is to have it's hands tied behind it's back by stupid politicians.
When dealing with some countries (pretty much all of Africa and all of the Middle East) so called "incentive payments" are the norm. Indeed they are vital.
This latest piece of ill conceived, muddled, confusing, and vague legislation simply shows that the clowns in government (whatever their political pursuasion) are clueless and would be better employed doing something useful, like legislating to stop fraud by MPs themselves.
I'm ready !
I think I'll stick the policy the Act wants on my office wall. It'll read:
"I'm too tight to offer bribes, and too paranoid to accept them."
Procedures?
The only procedure you need to adopt is "DON'T TAKE BRIBES".
The rest of it is unnecessary form filling.
Is this just ambulance chasing by the legal "profession"?





News Flash
Presumably the Metropolitan Police and the News of The World have not heard about this legislation.