UK Bribery Act comes into force
The UK Bribery Act has come into force, affecting all UK companies and, potentially, the firms that do business with them.
Under the Act, if an employee or agent of a firm is paying bribes on its behalf, then it may be liable regardless of whether it was aware of the payment or not.
This could result in a potentially unlimited fine, says Andrew Martin at the law firm Baker & McKenzie.
The Act could put UK businesses at a disadvantage when doing business in Asia, he adds.