9th November 2010

Response to the consultation on guidance about commercial organisations preventing bribery

The British Bankers’ Association (BBA) is grateful for the opportunity to respond to the consultation on guidance about commercial organisations preventing bribery.

The BBA supports strongly the need to modernise and simplify UK anti-bribery law.

The BBA engaged with the Law Commission during its review of bribery laws and we welcome the all party consensus to ensure the Bribery Act was passed in the last Parliament. Bribery and corruption impacts upon the poor and vulnerable people in developing countries, it undermines public services and has an economic impact, increasing the costs of doing business whether the corruption is overseas or domestic. The BBA’s members support fully the efforts of the Government in tackling bribery and corruption. Clean markets are a vital basis for the continued and future prosperity of the City of London and wider European and global financial markets.

Please read the full response below.