Delay to Bribery Act should not distract businesses, says PWC
The Ministry of Justice (MoJ) has confirmed that the Bribery Act, due to come into force in April, will be delayed until it has issued further guidance to businesses.
Although, the MoJ would not confirm a new date for the Act's implementation, it said the new laws would apply three months after the guidance had been issued.
Commenting on the decision, Andrew Gordon, a partner in PricewaterhouseCoopers's (PWC) forensic services practice, said: "We are concerned that businesses will be distracted by the current debate and the uncertainty it brings. There is no guarantee that the Act will be materially changed in its substance.
"Companies that have not begun to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
Hedron CEO Haggart eyes-up offering branded products
Chris Haggart, CEO of Hedron, intends to offer branded products drawing on the strength of the partnership with Broker Insights it entered into last year.
FCA’s Brewis warns MPs premium finance action could have ‘waterbed effect’ for consumers
The Financial Conduct Authority’s insurance director Matt Brewis has raised the concern that taking action on premium finance would have little or no impact on the price of motor cover.
FCA set to raise broker levy by 9.8%
The Financial Conduct Authority is set to hit brokers with an inflation busting 9.8% hike in fees for the general insurance mediation pot in 2024/25.
17% of brokers report unprofitable quarter to FCA financial resilience survey
An average three-month net profit of £22,636.50 has ranked insurance brokers and intermediaries as the third most profitable sector in the latest Financial Resilience Survey by the Financial Conduct Authority.
FCA adds four more S166s to sector
The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.
FCA warns insurers, again, on undervaluing total loss motor claims
The Financial Conduct Authority has confirmed finding evidence that suggests motor insurers are offering customers less than the full value of written-off or stolen vehicles and, in some cases, only increasing offers when a customer complains.
Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
The Competition & Markets Authority has cleared Markerstudy to pursue its proposed £1.2bn acquisition of Ardonagh-owned personal lines broking arm Atlanta.
Biba appoints Julie Comer as head of compliance
The British Insurance Brokers’ Association has recruited Julie Comer from Lloyd & Whyte as head of compliance.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop