Expected U.K. Anti-Bribery Law Will Increase Compliance Costs for U.S. Financial Institutions

By Colby Adams

A British anti-bribery bill expected to pass this month could increase the likelihood that U.S. financial institutions and other companies will face sizable monetary penalties for overseas deals, say consultants. The U.K. Bribery Bill, which could become law as soon as Thursday, would make it easier for British prosecutors to charge corporations and individuals for bribery in cases when companies have not implemented "adequate" compliance measures to prevent illicit payments. The bill, which would allow for prosecutions in cases when company management is unaware of violations, would prohibit U.K. entities from bribing foreign officials to exact lucrative business deals. Unlike...