â€œWhile it is entirely understandable that the government wishes Parliament to direct provisions to UK companies and show a strong hand to the international community, it is equally important that it does not suffocate activity in markets where those companies come up against international competitors.â€ Discuss the extent to which the Bribery Act 2010 has balanced the two objectives identified by Michaelson and Berkeley in this extract. As a member country of the Organisation for Economic Co-operation and Development, the UK ratified the OECD Anti-Bribery Convention and in principle agreed to meet the standards set. Despite this, the UK was unsuccessful in fulfilling its obligations and this resulted in a â€˜turning pointâ€™ whereby the Bribery Act 2010 was implemented.
Don’t waste time! Our writers will create an original "An Essay Bribery Act 2010" essay for you whith a 15% discount.Create order
The Actâ€™s predecessors were crucial factors owing to the implementation as they were considered â€˜inconsistent, anachronistic and inadequateâ€™. This Act codifies the law and quietens the criticism of the UK for â€˜lagging behind international competitorsâ€™. It is noteworthy that the phrase on the lips of so many commentators is â€˜level playing fieldâ€™ which â€˜works both waysâ€™. Thus, this essayâ€™s aim is to succinctly examine the extent to which the Act has brought the UK â€˜into line with international norms on anti-corruption legislationâ€™. However, it is also argued that the Act may be disadvantageous for UK businesses as stricter obligations are imposed compared to their foreign competitors. It is intended to take the two latter objectives and analyse the degree to which the Act has balanced them. There have been arguments against the â€˜delayâ€™ in implementation of the Act and these provide strong bases for establishing a â€˜strong hand to the international communityâ€™. The OECDâ€™s Working Group on Bribery opined that it was â€˜very disappointed . . . [in] the further delayâ€™; proceeding to affirm that â€˜establishing a level playing field for international business . . . will help strengthen the global economic recoveryâ€™. The OECDâ€™s dismay at the delay was clear when they claimed that they would â€˜threaten to blacklist British companiesâ€™ should they remain â€˜under-regulatedâ€™. The OECD urged the United Kingdom to implement the Act â€˜as a matter of high priorityâ€™ whilst Transparency International claimed that the delay â€˜raised serious doubts about the credibility of the governmentâ€™s commitment to the Bribery Actâ€™. Thus, it is widely accepted that the Act was critical in bringing the UK into line with OECD member states on anti-bribery. The USA has â€˜been at the forefront of prosecuting international briberyâ€™ and thus far â€˜has been [the] predominant force in setting compliance standards for international businessesâ€™. The FCPA was regarded, until the OECD Anti-Bribery Convention, as the only â€˜explicit extraterritorial anti-bribery lawâ€™. However, it can be seen that the UK Bribery Act has â€˜raised the barâ€™; and in doing so has shown â€˜a strong hand to the international communityâ€™. The government define the Act as a â€˜modern and consolidated bribery lawâ€™ that superseded the â€˜current law [that was] riddled with uncertainty and in need of rationalisationâ€™.
We will send an essay sample to you in 2 Hours. If you need help faster you can always use our custom writing service.Get help with my paper