Bribery Act 2010 and RICS Guidance on Bribery Flashcards
What are the four offences within the Bribery Act 2010?
1) offering, promising or giving a bribe to another person
2) requesting, agreeing to receive or accepting a bribe from another person
3) bribing a foreign public official
4) the corporate offence of failing to prevent bribery.
What is a bribe?
“An illegal inducement to encourage an individual or individuals to act in a certain way”
If an employee bribes who is liable?
The firm maybe liable if an employee bribes on your behalf.
Name an area that is not prohibited by the act?
Hospitality is NOT PROHIBITED by the Act.
What are bribes under the Act?
FACILITATION payments ARE BRIBES under the Act.
Under Bribery & Corruption what must a RICS regulated firm do?
1) Must not OFFER, ACCEPT, directly or indirectly a bribe.
2) Must have plans in place to comply with applicable laws governing by Bribery & Corruption.
3) Immediately report activity of bribery and Corruption.
4) Act with due diligence to perform written evaluation of the risks that the firm face that could lead to facilitation of bribery or corruption.
5) Retain information detailing how the firm has met the requirements of the professional statement.
What is the recommended guidance for RICS regulated firms in connection with Bribery when they receive something?
1) Implement a register showing transparency for:
a) Gifts
b) Hospitality, entertainment, and expenses
c) Customer travel
d) Political contributions
e) Donations and sponsorship
f) Potential conflicts of Interest
A) What should a firm provide its staff in connection with Bribery?
And
b) What in addition should they provide?
A) Provide staff with a clear understanding that the following are not tolerated:
1) Facilitation payments
2) Bribes
3) Price Fixing for a monopoly of the market
4) Failure to declare a conflict of interest
B)
1) Appoint a contactable person to discuss compliance and ethics.
2) Publish a code of behaviour and provide this to the staff
3) O Carry out due diligence on third party suppliers to ensure they are acting appropriately
In connection with Bribery and Corruption what must members do?
1) Must not OFFER, ACCEPT, directly or indirectly a bribe
2) Have adequate knowledge of bribery and corruption
3) Must immediately report activity of any bribery and corruption
A) What is the guidance to members of Bribery for their employer?
And
B) In addition what else must an employee do?
A) Must declare to their employer:
1) Gifts
2) Hospitality, entertainment, and expenses
3) Customer travel and hospitality
B)
1) Attend training provided by their employer
2) Act in compliance with their employers policy regarding bribery.
3) If in a senior position ensure their employer has an appropriate regime in place for addressing bribery and corruption risks
What is the name of the RICS Professional Statement relating to bribery and what addition and effective date?
Countering Bribery and Corruption, Money Laundering and Terrorist Financing.
1st Edition: February 2019
