Launch of revised OECD Anti-Bribery Recommendation

Posted on December 15, 2021

The OECD has launched new guidance designed to assist countries and businesses in combating the bribery of foreign public officials. Launched on International Anti-Corruption Day, the 2021 Recommendation for Further Combating Bribery of Foreign Public Officials in International Business Transactions includes the revised Annex II Good Practice Guidance on Internal Controls, Ethics and Compliance which Continue reading

Company whistleblower policies falling short

Posted on December 14, 2021

Company whistleblower policies are not meeting the relevant requirements – this is the key message from an ASIC select review of whistleblower policies from public companies, large proprietary companies and trustees of registrable superannuation entities (RSEs). ASIC is calling on CEOs of these entities to review and revise their whistleblower policies to ensure they comply Continue reading

Serious corruption now targeted under Autonomous Sanction Act 2001 (Cth)

Posted on December 12, 2021

Allens has published guidance to support Australian businesses following the passage of amendments to Australia’s autonomous sanctions framework. The amendments could result in the proliferation of Australian sanctions and more dispersed sanctions compliance risk for Australian businesses. These sanction – which will be applied as economic, financial and trade restrictions – will target serious corruption, serious Continue reading

International Anti-Corruption Day

Posted on December 8, 2021

Today marks International Anti-Corruption Day. This year, International Anti-Corruption Day seeks to highlight the rights and responsibilities of everyone – including the private sector – in tackling corruption. Corruption damages businesses – companies that counter corruption also strengthen their brand value, enhance their business performance, and protect their reputation. Governments cannot counter corruption on their own and Continue reading

New anti-bribery case studies

Posted on December 5, 2021

The BPN has launched a series of new case studies to support businesses working through the challenges associated with preventing, detecting and addressing bribery and corruption. Each case spotlights a different anti-bribery issue or procedure, including: Implementing an anti-bribery and corruption policy Implementing a whistleblower policy Conducting thorough due diligence Facilitation payments Investigating an internal Continue reading

Australia’s Autonomous Sanctions Framework – Changes on the Horizon

Posted on October 25, 2021

The Australian Government has committed to amending the Autonomous Sanctions Act 2011 (Cth) to introduce a worldwide sanctions regime by the end of the year. This regime, which will impose sanctions on serious international offenders regardless of where in the world their conduct occurred, will target both human rights abuses and wider ‘thematic’ international issues, including grand Continue reading