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New guidance from the UK Ministry of Justice provides greater detail on how the new UK Bribery Act will affect U.S. companies registered and operating in Britain.
More stringent than the U.S. Foreign Corrupt Practices Act (FCPA), broader in scope and more aggressive in levying penalties for noncompliance, the UK Bribery Act has “far-reaching implications for any business, including a U.S. business which is registered in the UK, has any part of its operations in the UK, or employs UK citizens,” according to a new paper: “Decision time: The UK Bribery Act and what it means for U.S. Companies,” by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations
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