HOST: Energy Institute
VENUE: Energy Institute, 61 New Cavendish Street , London W1G 7AR
SPEAKER: Peter Maher, Partner at Deloitte
Did you know the extractive industries have been an established target for anti-corruption enforcement authorities for a number of years?
When the UK Bribery Act comes into force in April 2011, this country will have one of the most stringent anti-corruption regimes in the world. Companies, regardless of location or industry, need to act now to mitigate the risks presented by the new legislation. The new corporate offence of “failure to prevent a bribe being paid” presents particular issues as the only defence is for a company to affirmatively demonstrate that it has in place “adequate procedures” to prevent bribery. Guidance will be published by the Ministry of Justice in early January 2011 as to what constitutes “adequate procedures”. This will give corporate only three months to plug any gaps in their existing compliance programs. Compliance with Foreign Corrupt Practices Act and Sarbanes Oxley will not itself be sufficient as the UK Bribery Act is wider in scope and contains less “carve outs”.
This lecture will cover:
- What the UK Bribery Act is and who will be covered by it;
- Why the Act is particularly relevant to the Oil & Gas sector, given the inherent risks of corruption in the sector;
- What companies should be doing now to prepare for the enforcement of the Act.
Tea, coffee and biscuits will be served from 16.30. The session will begin at 17.00, and after ample opportunity for questions we are scheduled to finish by 18.00.
For further information or to register please respond with your name, job title, company name and address and contact telephone number.
Please feel free to forward this to any colleagues whom this may be of interest to.
Kind regards,
Gemma Wilkinson
Events Organiser
Energy Institute
61 New Cavendish Street
London
W1G 7AR
t: + 44 (0) 20 7467 7174 (direct)
t: + 44 (0) 20 7467 7100 (switchboard)
f: + 44 (0) 20 7580 2230
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