By Ian Hargreaves and Robert Bolgar-Smith King & Wood Mallesons’ London Office
Companies that operate in numerous jurisdictions have long faced the burden of complying with various regulatory regimes that can vary significantly and change rapidly. Increasingly, however, regulators are expanding not just the extent of the regulations but also their jurisdictional coverage.
Regulations such as the UK Bribery Act 2010 (“UKBA”) and US law by the Foreign Corrupt Practices Act 1977 (“FCPA”) have wide extra-territorial application and foreign companies with UK or US elements can find themselves facing vast penalties and potential criminal sanctions against itself, its employees and its directors.
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