Anti-corruption laws are critically important for combating corruption around the globe, including Russia. Corruption has corrosive effects on democratic institutions and deteriorates the normal course of doing business. Lately, there is a significant government focus on stamping out bribery and corruption in Russia. Bribery and corruption can take many different forms, and there is an increasing view that it is ultimately bad for long-term business success. Accordingly, Russian and Western regulators are highly focused on (and are prosecuting) extra-territorial violations by overseas companies. Below is a simplified comparison of regulatory frameworks of Russian, UK and US anti-corruption laws that shall be taken into account by non-Russian companies operating in Russia.
UKBA |
FCPA |
Russian Criminal Code |
|
Prohibits Bribery of Foreign Officials |
yes |
yes |
yes |
Prohibits receipt of bribes |
yes |
no |
yes |
Prohibits Bribery in Private Commercial Transactions |
yes |
no |
yes |
Facilitation ("Grease") Payments Permitted |
no |
yes |
no |
Payment of Bona Fide Business Expenses Permitted |
no |
yes |
yes |
Extra-Territorial Effect |
yes |
yes |
yes |
Disqualification from Future Government Contracts |
yes |
yes |
yes |
Liability for Third Party (Agent/Consultant) Actions |
yes |
yes |
no |
Whistleblower Bounty |
no |
yes |
no |
Procedures/Training Mitigate Corporate Offence |
yes |
yes |
no |
Lawfulness of Action In Country a Defence |
yes |
yes |
yes |
Government Pre-Action Opinion Available |
no |
yes |
no |
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.