A law going into effect July 1 potentially raises the personal liability of U.S.-based CFOs whose companies do business in the United Kingdom. The U.K. Bribery Act builds off of the 33-year-old U.S. Foreign Corrupt Practices Act (FCPA) and is expected to have a broad reach.
Violators could face up to 10 years imprisonment and hefty fines. The new law suggests executives may be held liable if they don't take certain steps to prevent bribery from occurring on their watch. The illegal
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