Corruption has considerable consequences - and increasingly affects German companies, even though corruption often occurs without the knowledge of German management. The requirements are ever increasing for corporate in-house commercial risk management to prevent criminal acts of corruption. They will even intensify when the UK Bribery Act enters into force in July 2011. German companies are also governed by its scope if they have a sufficient amount of business relations with the United Kingdom.
In numerous areas, the UK Bribery Act is reaching farther than previous international anticorruption legislation. In addition to arrest of up to ten years for natural persons, fines of unlimited amounts will be introduced for enterprises. A fine may already be imposed if a company has not taken adequate precautions to avoid a corruption offense so that the UK Bribery Act places high demands on a functioning compliance system.
In the jointly held event "Compliance in Dialog - New Requirements to Risk Management for the Prevention of Corruption," Heuking Kühn Lüer Wojtek and London-based UK law firm Stephenson Harwood will provide information on the new statutory provisions that the UK Bribery Act will also introduce for German companies.
The event will be held at the offices of Heuking Kühn Lüer Wojtek, Georg-Glock-Straße 4 in 40474 Düsseldorf, on June 22, 2011 at 5:00 p.m. For additional information and to register for the event go here.