Regulators prosecuting corrupt intent
In many circumstances, efforts by regulators towards anti-corruption are noticed to be against the interest of business. Regulators across the globe are attempting to define the ethical conduct expected by corporations, providing adequate practical approaches towards ensuring compliance. Furthermore, regulators express their expectations from corporations from time to time, on the adoption of compliance in spirit than just words represented in the regulation.
The recent effort of the Australian Parliament’s House of Representatives passing the Crimes Legislation Amendment (Powers, Offences and Other Measures) Bill 2015, also signifies the same. The regulators in the proposed amendment have stated the following as part of the explanatory memorandum: