November 14, 2012
The Bribery Act: “Bona fide hospitality which seeks to improve the image of a commercial organisation or establish cordial relations is recognised as an established and important part of doing business and it is not the intention of the Act to criminalise such behaviour”
In the following statement, Richard Alderman, Director of the SFO reminded us of this:
“Normal corporate hospitality is part of business and is a part of building up relationships that are needed in order to make business work. This is not a problem”
Expenditure to improve the prowess and prominence of your brand is allowed, in fact encouraged. Obviously you must be prudent and ‘proportionate’ when selecting your hospitality to wow those important clients, making sure that you gain senior management approval as well as a ‘top-notch’ supplier.
So, if your Finance Director tries to tell you that corporate hospitality is prohibited by the Bribery Act, this is not the case. We suspect he is just jealous no one wants to bring him out from the depths of his dungeon office for strawberries and cream at Wimbledon…