Posted: Thursday 22 December 2011
The British Bankers’ Association has rather belatedly issued its guidance on complying with the Bribery Act 2010. The guidance seeks to help banks assess the policies and procedures they need to put in place to meet the requirements of the Act. It also rather usefully compares the Act’s requirements with the broader context of FSA obligations.
Morton Fraser’s anti-bribery and corruption partner, John Lunn comments: “The BBA’s guidance is very welcome as banks attempt to ensure their anti-bribery policies and procedures are proportionate. There is a wealth of advice and guidance out there, but very little of it is focussed on the banking industry. That said, banks need to base their Bribery Act compliance on the risk assessment of their own business, and design their responses accordingly. The BBA’s guidance will be a good measure against which to compare and contrast their current policies.
John also heads our retail banking team, and is ideally placed to advise on this new guidance. Please contact him on 0131 247 1066 or at firstname.lastname@example.org.