bribery bill

SMEs Lose Out in Queens Speech

SMEs Lose Out in Queen’s Speech

Queen’s speech in brief — Bills affecting business: Equality Bill: businesses with more than 250 employees will have to report on gender differences on pay and publish the results. Agency workers to be given equal treatment with permanent staff after 12 weeks in a job. Digital Economy Bill: universal broadband to be introduced. Bribery Bill: makes it an offence if businesses fail to prevent a bribe being paid by an employee.   Economic recovery and growth were the leading themes in this year’s Queens’ Speech, but the small business sector was largely overlooked in the Government’s legislative programme. Key measures included a curb on City bonuses and plans to tackle inequality of pay between men and women working in large firms. The speech also unveiled ... »

Queen’s Speech Warns Firms of Corruption

Businesses need to take extra care when new laws come in, says leading compliance firm.  The Queen’s Speech on Wednesday (18th November) will contain proposals for severe new penalties for firms which fail to prevent corruption taking place. The Bribery Bill, one of the key pieces of the government’s planned legislation, will force businesses to put in place new systems and controls. Complinet, a company providing compliance solutions, says firms continue to face real challenges in demonstrating compliance. In particular, the Bribery Bill will mean financial services firms will face the prospect of legal action by the Financial Services Authority. The FSA has already warned that monitoring of third-party relationships and payments is generally ‘very weak’. Chri... »