Almost half of the UK’s top companies are unaware of how US anti-corruption legislation affects them, according to new research.

Forty-six percent of respondents to a survey of more than 100 FTSE 350 companies conducted by accountancy firm KPMG said that they while they did business in the US they either thought that they were not subject to the US’ Foreign & Corrupt Practices Act (FPCA) or did not know if it would affect them.