Bribery Act: Doing business in Russia
The UK Bribery Act came into force on the 1st July. Although clearly in its infancy, companies need to seriously consider how their business can be affected by this groundbreaking legislation, which goes much farther than any previous anti corruption legislation anywhere.
It is evident that this creates a risk of being prosecuted for offences that ostensibly are committed abroad.
Building.co.uk, a website aimed at the building and construction industry today publishes an article focussing on the challenges business face when operating in Russia. This useful article covers the regulatory environment in Russia, information on corruption, the Russian legal system, information on arbitration, as well as some helpful tips on how to prepare yourself and your company.
The article entitled Difficult Jurisdictions can be found here.
Additional articles on the Bribery Act can also be found by following this link.
Please contact BGP if you have any concerns as to how you may be affected by this legislation.