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U.K. Officials Cite Need to Expand Corporate Liability

Roberta Holland | September 10, 2014

Top anti-fraud officials in the United Kingdom are pressing the case for an expansion of corporate liability rules to include other financial crimes besides bribery.

The 2010 Bribery Act already puts companies on the hook for failing to prevent bribery by associated persons for its benefit, unless the company can prove adequate preventive measures were in place. David Green, director of the Serious Fraud Office (SFO), said last week the suggested expansion of corporate liability, floated by himself and others, is “gaining traction.”

Green-david-0914“I will also continue to speak in favor of amendment of S7 of the Bribery Act to create the offense of a company failing to prevent acts of financial crime by its associated persons,”...

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