PE firms fear bribery bill liability

Buyout firms criticise lack of government guidance on whether they may be liable under the new Bribery Bill if wrongdoing was found at one of their portfolio companies

Private equity firms have criticised the lack of government guidance on proposed new bribery laws, on fears that buyout firms may be liable for offences carried out by portfolio companies.

UK government last week issued guidance over its incoming bribery legislation, which sought to allay concerns that the bill would effectively outlaw corporate hospitality and promotional expenditure, such as branded Christmas gifts.

WSJ Logo