The U.K. Bribery Act should be a concern for the nearly half a dozen Russian companies entering or preparing to enter the British stock market, experts said.
The main source of uneasiness from the act, slated to come into effect July 1, is jurisdiction. While the guidelines published March 30 by the British Justice Ministry state that the "mere" presence on the British stock exchange does not make a company liable under the law, experts say it might.
The wording of the act is rather vague, stating that the law extends to any non-British company that "carries on a business or part of a business in the U.K."
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