UK companies are not doing enough to comply with the Bribery Act 2010 (Act) and may also be failing to meet reporting obligations required under the European Union Emissions Trading System (EU ETS) according to a survey of UK logistics professionals released today. The research, carried out by industry law specialists at Thomas Eggar LLP, shows that three-quarters of respondents are either aware of the EU ETS but find it difficult to understand or not aware of it at all. What this means is that very few logistics companies are properly engaging in the EU ETS or have the proper compliance measures in place. Also, despite two years passing since the introduction of the Bribery Act in 2010, nearly two-thirds of those surveyed admit their organisation could either do more to comply or does not have a bribery policy at all.
Described by some as ‘the toughest anti-corruption legislation in the world’, the Act covers the crimes of bribery; being bribed; the bribery of foreign public officials; and the failure of a commercial organisation to prevent bribery on its behalf. The Act is relevant because many companies operate supply chains or form part of a supply chain in countries where there is a high risk of bribery. Also, their activities may include those with a high risk of corruption, such as interacting with public officials or using local agents or partners. Because the Act has wide extra-territorial jurisdiction, this means any act of bribery by a UK organisation, UK national or UK resident, anywhere in the world, breaks the law in the UK. Read the fill article here! Source: Thomas Eggar