UK corruption

Not so fast

May 01, 2007

The UK can't hide from US anti-corruption measures

Corruption is a global problem. From Scotland Yard's cash for peerages investigation to the recent arrests in Brussels, corruption, in its many guises, is never far from the headlines. Despite this, the UK's anti-corruption laws are in disarray: just a week after the Serious Fraud Office director, Robert Wardle, called for reform of the UK's anti-corruption laws, the Home Office announced, on March 5 2007, that the government had, for the second time, abandoned its 2003 draft Corruption Bill.

The government has, instead, asked the Law Commission to undertake a "thorough review" of the UK's anti-corruption laws. It is envisaged that this review process will take around 18 months to complete. This means that the UK's anti-corruption laws will remain in their existing disparate and outdated form, comprising a combination of common law and three Acts, which originated in the 19th century...



Related articles

"The culture is not to disclose. And that’s partly driven by the rules"

The SFC's Martin Wheatley on the problem of disclosure in Hong Kong

Web seminars

US and EU hybrid capital
February 3 2010
The future of hybrids, in a popular discussion between IFLR, Morrison & Foerster and Calyon

Latest Issue

March 2010

Basel III: The revenge of Basel
New Basel rules are affecting everyone differently. In the UK banks are worried about grandfathering, in Germany the headache is hybrids and in the US it's risk structures. Meanwhile Japan has some tips and Hong Kong structured its first hybrid [more]