Isle of Man
Prosecution for committing this offence can only be brought by,
or with the consent of, the Attorney General and the penalties can
Since the Isle of Man Bribery Act came into force, an increasing number of clients have asked about what is required to demonstrate ‘adequate procedures'.
Reed Smith (Worldwide)
The Isle of Man is an unusual place. Constitutionally it is a dependency of the British Crown and depends on Britain in matters of defence and foreign affairs.
The Isle of Man Bribery Act ("IOMBA") came into force on 16 December 2013 and significantly changed the landscape from the standards required under the Corruption Act 2008.
The Bribery Act 2013 (BA 2013) came into force on Monday 16 December 2013 and it is largely based on the Bribery Act 2010 (of Parliament) (the BA 2010) which came into force on 1 July 2011.
A summary of the Isle of Man’s new Bribery Bill which is expected to come into force this year.
The decision clarifies how duties to customers and AML obligations should interrelate.
The action of arrest is a unique Manx remedy available to creditors whose debtors are resident and/or retain property on the Island.