Bribery Flashcards
1
Q
What is a Bribe?
A
- The act of giving, offering, promising or receiving of a financial or other advantage in order to prompt or reward improper performance.
- The improper performance will result in a commercial or personal advantage.
2
Q
What is ‘improper performance’?
A
- Improper performance is a failure of an individual and/or firm to act in good faith, impartially and in a trustful manner.
3
Q
What is the key legislation governing bribery in the UK?
A
- The Bribery Act 2010.
4
Q
What are the six principles detailed within the Bribery Act 2010 which a firm must comply with?
A
Acronym: David Cannot Risk Punching Topless Men
- Proportionality - Proportionate procedures (i.e. a firm’s bribery prevention procedures to be proportionate to the bribery risks faced).
- Top level commitment (i.e. involvement of top-level management in developing and implementing bribery prevention procedures).
- Risk assessment (i.e. assessment to identify the nature and extent of bribery risks faced).
- Due diligence (i.e. due diligence of all third parties will help mitigate risk of bribery).
- Communication (i.e. adequate communication and training of a firm’s bribery prevention procedures throughout the firm).
- Monitoring and review (i.e. firm monitors and reviews bribery prevention procedures).
5
Q
What is deemed an offence under the Bribery Act 2010?
A
- Giving, offering or promising a bribe.
- Requesting or receiving a bribe.
- Bribing a foreign public official.
- Failing to prevent bribery.
6
Q
What is your firm’s anti-bribery procedures?
A
- Any gifts or hospitality must be registered on the Workman LLP gifts and hospitality e-Register.
- Immediate notification of team leader or company secretary if bribery has or may occur.
- Any gifts or hospitality cannot be deemed extravagant in monetary value or duration.
- Cannot accept a gift with a monetary value over £25.00.
7
Q
What the penalties for breach of the Bribery Act 2010?
A
- Maximum penalty of 10 years imprisonment and/or unlimited fine.
