Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

Get updates on Compliance Week offerings, including new features, databases, research, and other resources, along with announcements of upcoming Webcasts, conferences, seminars, CPE/CLE opportunities and more.

Published every Thursday, Compliance Week Europe offers a condensed summary of risk, audit, and compliance news either originating in Europe, or of special interest to European compliance professionals. This newsletter will follow developments by the European Commission, as well as those of national governments across the region, or any U.S.-based news that might have consequence across the Atlantic. Frequency: weekly; Thursday a.m.

A fresh edition of Compliance Week delivered via e-mail and online every Tuesday morning, relentlessly focused on the disclosure, reporting and compliance requirements of our 25,000+ paying subscribers.

Published every Friday, Compliance Weekend was launched at the behest of subscribers, and offers a quick Plain English review of the week's key developments. We hope you enjoy this supplement to Compliance Week's Tuesday edition.

U.S. Execs Lack Bribery Act Knowledge

Neil Baker | April 21, 2011

Three quarters of U.S. business professionals do not know enough about Britain's tough new anti-bribery laws, even though they take effect in less than three months, according to a survey from Deloitte.

The firm said the Bribery Act was likely to be the biggest regulatory change in global anti-corruption law since the U.S. Patriot Act in 2001.

Joe Zier, a Deloitte expert on the U.S. Foreign Corrupt Practices Act (FCPA), said some companies had begun work early to prepare for Bribery Act compliance, but 73 percent of business people polled by the firm were not familiar with its provisions.

The U.K. law includes six principles for anti-bribery efforts; those covering risk assessment and due diligence would be the hardest to deal with, Zier predicted. “Companies need to be vigilant of where their potential risks lie and investigate them fully to identify new exposures,” he said. Work was needed “to ensure that ‘business as usual' today isn't a U.K. Bribery Act violation in July.”

The firm surveyed more than 1,000 business professionals from across industry sectors during a Webcast about FCPA compliance.