Firms sweat new bribery law
(WSJ): Multinational companies have spent millions of dollars beefing up their compliance programs amid a U.S. crackdown on foreign bribery. Now, they are facing a new British law they fear will force them to rethink their compliance strategies and upend their business practices. The new law, called the Bribery Act, takes effect in April. It resembles the U.S. Foreign Corrupt Practices Act, which bars companies that trade on U.S. exchanges from bribing foreign government officials to gain a business advantage. The British law, however, is more sweeping than its American counterpart, and corporate legal advisers are uncertain how extensive the fallout might be.
Category: Business
