The OECD Working Group on Bribery has been setting global standards for fighting foreign bribery since the adoption of the Anti-Bribery Convention in 1997. Among these standards, the Convention requires Parties to establish systems of liability of legal persons and to provide that firms found guilty of foreign bribery are subject to “effective, proportionate and dissuasive” sanctions.
Entries in Corporate Liability (9)
The Federal Financing Monitoring Service of the Russian Federation drafted a bill that would ratify the Council of Europe Warsaw Convention of 2005 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, which Russia signed in 2009.
The lower house of Russia's national legislature -- the State Duma -- has been considering draft amendments to the law on the criminal liability of a legal entity.
There is no criminal liability of a legal entity for bribery in Russia because only a person is subject to the Russian criminal law. But that's not the end of the story.
Effective independent non-executive directors are expected to provide high-quality, objective oversight and scrutiny of a listed company’s strategy and the performance of its executive management. By being removed from the immediate commercial pressures of executive management, they are an essential component for ensuring effective corporate governance and compliance.
Some members of Congress are evidently concerned that corporate defendants are getting off the hook. Too many deferred- and non-prosecution agreements, and not enough criminal indictments.
How many corporate enforcement actions since 2005 didn't involve criminal or civil charges against any employees from the company? We find out.
Brazil’s legislation of 2002 implementing the OECD Convention conspicuously lacked a legal principle that has elsewhere proven a cornerstone of anti-bribery enforcement: corporate liability.