Anti-corruption watchdog group Transparency International has finalized its recommendations regarding UK Bribery Act compliance for companies engaging in M&A and other investment activities. From law firm McDermott Will & Emery:
“The guidance recognises that post-completion due diligence will be ‘critical and urgent if access to information has been restricted or denied during the post-acquisition phase’, and it outlines the importance of undertaking post-completion due diligence ‘as soon as the transaction completes’.
Where any bribery risks are identified or suspected, the principles encourage the purchaser to report the suspected bribery promptly to the authorities and consider taking ‘immediate remedial action’. In particular, the guidance outlines, as good practice, the instigation of a plan to ensure any post-completion due diligence undertaken runs smoothly and covers all potential issues. As a fundamental part of any merger, acquisition or investment transaction, the purchaser should ensure that the target adopts an anti-bribery due diligence programme similar to its own.”
Read the update, Transparency International Issues UK Bribery Act Guidance on Mergers, Acquisitions and Investments - McDermott Will & Emery»