Bribery Act 2010 - why it's important to be prepared

Yet more red tape that businesses must comply with, but it's important to understand your responsibilities.

The Bribery Act comes into force on 1 July 2011. Businesses of all sizes must comply with the legislation and there is real concern that many SMEs are insufficiently prepared for the Act. Tasks include drawing up your organisation's Anti Bribery Policy, staff training and performing a risk assessment on all areas of your business. Failure to comply could lead to unlimited fines and imprisonment for directors for up to 10 years.

This is yet another reason why directors and officers of firms should have in place Management Liability cover (formerly known as Directors and Officers cover). This insurance will cover senior management for failures in carrying our their legal and statutory duties and can be extended to include HSE prosecutions and corporate manslaughter. For more information and a no-obligation quote, contact Jason Reynolds at jasonreynolds@ecsbrokers.com or on 0114 2802830.