Getting your house in order – the burden of self-reporting
Internal investigations are nothing new, but in the wake of banking scandals, growing regulatory pressure and a raft of legislation tightening and criminalising corporate law, investigations have become as burdensome for general counsel as they are burgeoning for their external legal advisers. Many corporates have gone to great and costly lengths to improve their internal processes, not least in light of the Bribery Act 2010, which forces UK and foreign companies with a UK operation to ensure they have adequate procedures in place to minimise the risk of bribery and corruption.
Mounting regulatory pressure, new legislation and a fear of reputional damage have fuelled a rise in the number of corporates conducting internal investigations to tackle bribery and corruption. Caroline Hill finds out why an effective self-reporting regime is a necessary burden
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