Bloomberg News

Canada Toughens Anti-Bribery Laws for Foreign Payments

February 05, 2013

Foreign Affairs Minister John Baird said the Canadian government will toughen its anti-bribery legislation.

Canada will introduce amendments to existing laws that prohibit bribing foreign officials to eliminate certain exemptions, broaden the number of companies covered and almost triple maximum jail terms to 14 years, Baird said in a statement.

The changes come less than two weeks after Griffiths Energy International Inc. said it had reached a settlement with federal prosecutors over payments the company made to a public official from Chad, agreeing to pay a fine of C$10.4 million ($10.4 million). Griffiths said it voluntarily disclosed the payments, made between 2009 and 2011, after they were discovered by the company’s new management.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net


Video Game Avenger
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus