bribery act 2010 webinar 19 may 2011 final
DESCRIPTION
REDTRAY webinar hosted in conjunction with Duane Morris LLP regarding the impending Bribery Act 2010.TRANSCRIPT
Welcome
We will be starting promptly at 11.00am.
For the purposes of today’s session, your microphones will not be switched on, but you will
be able to use the chat area on the right hand side of your screens to talk to other attendees
and ask any questions.
If you have experience any technical difficulties with any aspect of the session, please call
01225 303890.
Bribery Act 2010: Countdown to 1 July 2011
Agenda
• Welcome • Bribery and Corruption: To the UK
and beyond • Harnessing learning technologies
to ensure compliance • Questions
Today’s speakers
Vicky Jones, REDTRAY
Vicky works with REDTRAY clients to create effective compliance learning solutions.
Jonathan Armstrong, Duane Morris LLP
Jonathan specialises in corporate law, focusing on technology and compliance.
PollQ: Have you ever been asked to take a bribe? (Please note answers are anonymous!)•Yes•No•Not saying!
Poll 2Q: Do you think your organisation will be prepared for the Bribery Act coming into force on 1 July 2011?•Yes•No•Taking steps towards this
Bribery and corruption – To the UK and beyond
Jonathan Armstrong, Duane Morris LLP
New UK Legislation• “Toughest enforcement standard in the
world“• Enacted 8th April 2010• Guidance published 30th March 2011• In force 1st July 2011• Applies to public & private officials• Replaces legislation stretching back to
1889• Important new offence of failure to
prevent bribery
Who’s Who?• Ministry of Justice (MoJ)• Serious Fraud Office (SFO)
Extra territorial reach• The offences of giving and receiving bribes and
bribing foreign public officials apply to• UK entities wherever the act occurs (even if
US owned)• UK citizens and individuals ordinarily
resident in the UK regardless of where the relevant act occurs
• non-UK nationals & entities if an act or omission forming part of the offence takes place within the UK
• “relevant function/activity” does not need to have a connection with the UK
Issues with FCPA policies• ‘Foreign Public Official’• Hospitality
Hospitality and promotional expenditure• MoJ says:
– “Hospitality and promotional expenditure can be employed improperly and illegally as a bribe”
– Professional education often a cover– ‘lavish’
• MoJ wants to trigger a review of hospitality standards
• SFO say “used.. to groom employees.. into a position of obligation and thereby prepare the way for major bribery”
Issues with FCPA policies• ‘Foreign Public Official’• Hospitality• Bans facilitating payments• De minimis levels• Adequate procedures
• Policies must be reviewed• “clear, practical, accessible and
enforceable”• Legal issues with helplines
Countries involved in recent cases
• Argentina• Azerbaijan• Bahrain• Bangladesh• Bolivia• Bosnia• Brazil• Bulgaria• Burma• China• Congo• Costa Rica• Croatia• Ecuador
• Equatorial Guinea• Egypt• Gabon• Haiti• Hungary• India• Indonesia• Iraq• Israel• Kazakhstan• Korea• Latvia• Malaysia• Mexico
• Nigeria• Philippines• Romania• Russia• Saudi Arabia• Serbia• Spain• Thailand• UAE• Uganda• United Kingdom• Venezuela• Vietnam
1. Policy review/implementation2. Education, education, education3. Look at subsidiaries & their compliance4. Associated persons
The next 6 weeksThe next 6 weeks
Resources• UK legislation – www.bit.ly/kenspk • Dodd-Frank – www.bit.ly/usakzo• Webcasts – www.tinyurl.com/jpa007• Podcast – www.bit.ly/techlaw10 • Twitter –
www.twitter.com/armstrongjp
Questions?
[email protected] 7786 2117
Harnessing learning technologies to achieve
complianceVicky Jones, REDTRAY
Poll• Do you currently leverage any
learning technologies to help manage compliance programmes within your organisation?
• Yes• No• Would like to
Poll 2If you do leverage these technologies, do you use any of the following:•e-learning•LMS•Virtual Classrooms•A blended approach•Other
Harnessing learning technologies to ensure compliance
• Compliance affects all organisations• Technology playing a more vital role• Growing recognition amongst senior management• Technology can be advantageous in compliance programs• Communication and training are essential
‘Organisations that have not considered the impact of the change in the law really need to consider the steps they are going to take before the Act takes effect in April. Those that have not put an appropriate training and communications programme in place for their staff risk exposing themselves to unnecessary breaches and penalties.’
- Ben Luddington, Grant Thornton, Jan 2011
Compliance
Content
Measurement
Accessibility
Flexibility
Reporting
Integration & Security
Communication and training checklist Content
relevant, applicable and current custom created or purchased off the shelf
Measurement content alone is not enough ensuring the right people have accessed the materials
Accessibility reaching a large number of users making it easy
Flexibility to update content and assessments to update user details and changes where applicable
Reporting Robust reporting for audit purposes Ability to set deadlines to achieve compliance
Integration and Security HR data aligned and training records are updated Content and user data is secure
Questions?
[email protected] 7451 4681
Thank you!Slides from today’s session will be
emailed to you, along with a complimentary copy of REDTRAY’s
whitepaper on ‘How to build a compliance culture’.
[email protected] 7786 2117
[email protected] 7451 4681