Bribery and corruption is a growing concern for businesses in all sectors and jurisdictions. Corruption is a problem not only from an ethical and competition-distorting perspective, but also because of the risk it creates to the reputation of affected businesses and the potential financial implications of a conviction.
“The increase in enforcement of national and international bribery and corruption legislation means businesses must demonstrate compliance,” explains Chris Charman, Chief Executive of the International Marine Contractors Association (IMCA).”Due to its complexities, this can be a challenging area for businesses to address. Indeed, they need to stay ahead of developments in this rapidly evolving area of law and any board of directors that does not give due consideration to these issues is arguably failing in its duties.
“It is with this in mind that our Contracts & Insurance Workgroup is hosting an Anti-bribery & Corruption Seminar on 28 May at 4 Hamilton Place, London W1J 7BQ, to discuss bribery and corruption issues faced globally by the marine contracting industry, where anti-bribery clauses can be an integral part of contracts. It is important that members and their clients work together establishing auditable and workable processes. The seminar is designed to help mutual understanding on both sides of the client:contractor fence and to discuss ways and means of establishing workable solutions.”
The afternoon-long event is open to all IMCA members (there are in excess of 970 member companies in more than 60 countries), and all interested parties. Nathalie Louys of Subsea 7 will deliver the opening welcome address, which will be followed by five presentations, and a panel discussion. All delegates are invited to stay on for a networking evening.
The first two presentations by Sylvie Rapin of Total E&P and Michele de Rosa of ENI will look at ‘Anti-bribery and corruption from an oil company’s perspective: experiences and expectations of the contracting industry’. These will be followed by a corruption case study delivered by Simon Moore and Tony Concagh from international law firm Stephenson Harwood, which involves third-party drug dealers attaching drugs to the hull of a vessel.
Andrew Hayward of Subsea 7 will then look at ‘Principles and procedures for managing bribery and corruption risks: a contractor’s perspective’; before Robert Barrington of Transparency International, the global civil society organisation leading the fight against corruption, talks about a perennial problem – ‘Working to eradicate small bribes’; they will release a guidance document on the topic shortly after the IMCA event.
A round-table panel discussion follows involving Francois Vincke, International Chamber of Commerce Anti-Corruption Commission, Simona Livia Rasini of Saipem, Nathalie Louys of Subsea 7, and Robert Barrington of Transparency International. A review of the sessions will follow; and then all delegates are invited to attend the IMCA networking evening being held at 4 Hamilton Place.
Full details can be found on the event page – IMCA Anti-Bribery and Corruption Seminar 2014