UK Bribery Act & Whistleblowing Flashcards
Bribery Act 2010 Offences
S1 - Bribing another Person (active bribery)
Improper performance
need Proof
S2 - Receiving Bribes (Passive bribery)
improper performance
need proof
S6 - Bribery of a foreign public official
No requirement to show improper performance
Penalty 10 years / unlimited fine
UK Bribery Act 2010
Transnational coverage
Close connection to UK
Bribery Prevention
S7 - commercial organisation guilty of offence if person associated with organisation bribes another person
unlimited fine for the company
Management clearly understand take steps control risk of bribery
senior management who turn blind eye are personally liable (s14)
6 Principles for adequate procedures defence
Come from ministry of justice
1) Proportionate procedures (risk based)
2) Top level commitment
3) Risk assessment
4) Due diligence
5) Communication ( including training)
6) Monitoring and review
Whistleblowing Law
Public Interest Disclosure Act 1998
Protected disclosure made to regulatory authority
employer may not take action against them
Protected Disclosure
One made in the public interest
- criminal offence
- failure to comply with legal obligation
- miscarriage of justice
- Endangering health and safety individual
- damage to environment
- deliberate concealment of any of above
Whistleblowing Internal arrangements
SYSC 18.3 - FCA regs
have implemented appropriate arrangements for disclosure of reportable concerns by whistleblowers
- confidentiality
- assessment of disclosures and escalation to FCA/PRA
- no victimisation
- maintain records for audit
- annual report to board
- training
- may disclose direct to FCA/PRA
Link to fitness and propriety
- serious matter if evidence shows firm acted to detriment of whistleblower
- Firm - suitability would be questioned
- Staff member ; status as approved person
Whistleblowers’ champion
Under Senior Managers Regime
banks and insurers
must appoint director or senior manager as Firm’s whistleblower champion
