Championing the UK Bribery Act: The 2012 Olympic Games and corporate hospitality
Since it came into force on 1 July 2011, the impact of the UK Bribery Act 2010 on the giving of corporate hospitality, gifts and other expenses has raised concerns among those who fall under the Act’s jurisdiction. This is because the offences in the Act are drafted so broadly that, at first glance, it appears the provision and acceptance of many types of corporate hospitality fall within the scope of the offences and consequently may be illegal.
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In a speech delivered at the College of Europe in Bruges on 14 January 2013, Joaquín Almunia, Vice-President of the European Commission, and Commissioner responsible for Competition, stated that the Commission hopes to settle around half of its outstanding cartel investigations in 2013, using the settlement procedure instituted in July 2008.
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