Following complaints by some of Britain’s leading businessmen, a review of the new Bribery Act has been ordered by the Prime Minister’s office, just weeks before it is due to come into force.

The action is driven by concerns that the provisions in the new bribery laws could place excessive regulatory burdens on businesses and lead to leading members of the business community, bosses and tycoons facing lengthy investigations as well as harsh civil and criminal penalties. Lawyers for Formula 1’s Lotus Team has today warned of sponsors pulling out of UK events over fears that tickets to sporting events could be seen as bribery, and PricewaterhouseCoopers have also warned that even corporate Christmas gifts could fall under the offences of the Act. Control Risks, an advisory firm, has stated that the law presented “the most pervasive operational risk” to business and was the harshest law on the subject anywhere in the world. In addition, it is feared that such actions at this time could risk Britain’s wider economic recovery, at a time when the government is already under close scrutiny following the recent VAT increase and other cost-cutting measures.

The legislation may now be put forward to review in front of a “star chamber”, governed by the Coalition’s Growth Review (jointly run by the Treasury and the Department for Business) and chaired by Chancellor of the Exchequer, George Osbourne, and Business Secretary, Vince Cable.

If you wish to learn more about the Bribery Act, please click here to read the Guidance Note written by EAPD Partners, James Maton and Antonio Suarez-Martinez.