NEWSLETTER-2017

369 MISCELLANEOUS • Does not take place in the UK, but - The act or omission would be an offence if it took place in the UK, and - The person concerned has a close connection with the UK, i.e. it is a British citizen; ordinarily resident in the UK; a body incorporated in the UK; or a Scottish part- nership. Consequently, the BA 2010 has extraterritorial effect. It applies to foreign businesses having a trading presence in the UK, along with UK businesses that trade abroad 4 . The FCPA The FCPA can apply to prohibited conduct anywhere around the world, and extends to publicly traded companies and their officers, directors, employees, stockholders, and agents. Agents can include third party agents, consultants, distributors, joint-venture partners, and others 5 . It is indispensable to note that the anti-bribery provisions of the FCPA also apply to foreign firms and persons who take ( themselves or through agents ) any action in furtherance of such a corrupt payment while in the US. Penalties The BA 2010 The Serious Fraud Office is the lead prosecuting agency under the BA 2010. The following penalties apply for any breach of the BA 2010: 4 Lexis PSL, Commercial, Bribery and corruption regulation; Bribery and cor- ruption regulation, The US Foreign Corrupt Practices Act and the UK Brib- ery Act 2010 compared, https://www.lexisnexis.com/uk/lexispsl/commercial/ document/391423/55MD-0YK1-F188-308C. 5 US Securities and Exchange Commission, Foreign Corrupt Practices Act , https://www.sec.gov/spotlight/foreign-corrupt-practices-act.shtml.