Sullivan & Worcester’s Recommendations on UK Export Finance’s Anti-bribery and Corruption Declarations and Undertakings Accepted by UK Government

 
S&W Press Release
February 16, 2016

London; February 16, 2016 Law firm Sullivan & Worcester has contributed to the UK Government’s consultation on UK Export Finance (UKEF)'s anti-bribery and corruption declarations and undertakings (D&Us). UKEF is the UK government's export credit agency. 

The UK Government's response to its anti-bribery and corruption consultation was published on 28th January 2016. The response is the result of almost a year of consultation. It sought the views of professionals in the export finance community regarding: 

Led by Mark Norris, Sullivan & Worcester was the only law firm to respond to the UK Government's consultation, raising issues and suggestions in relation to: 

A number of Sullivan & Worcester’s recommendations were specifically accepted by the UK Government. 

Mark Norris, partner in the Trade & Export Finance Group at Sullivan & Worcester's London office, commented: "As a firm we work closely with exporters, financiers and export credit agencies globally on trade and export finance transactions. For all parties, compliance with anti-bribery and corruption legislation is key to ensuring the success of export transactions. To avoid unnecessary cost and delay, clarity as to what is required so as to ensure compliance is particularly important. We therefore welcome the UK Government’s initiative to clarify and simplify UKEF’s requirements."

The full UK Government response to the consultation can be read in full, here:

Sullivan & Worcester export finance partner Mark Norris led the firm's response to this consultation. He advises exporters, financial institutions and export credit agencies in relation to export finance including anti-bribery and corruption legislation. He can be reached on mnorris@sandw.com or +44 (0)20 7448 1003.

Sullivan & Worcester's trade and export finance practice handles multi-jurisdictional transactions and matters for clients across trade and export finance, project finance, asset finance, securitization, securities law, insurance, tax, compliance issues and dispute resolution.

The team advises on deals involving commodities, receivables, structured finance, trade services, Export Credit Agency (ECA) and trade disputes across all types of commodities including softs, metals, oil and gas.

About Sullivan & Worcester 
Sullivan & Worcester is a leading corporate law firm advising clients ranging from Fortune 500 companies to emerging businesses. With 175 lawyers in Boston, London, New York and Washington, D.C., the firm offers services in a wide range of areas, including corporate finance, banking, trade finance, securities and mutual funds, litigation, mergers and acquisitions, tax, real estate and REITs, private equity and venture capital, bankruptcy, environment and natural resources, climate change, renewable energy and water resources, regulatory law, and employment and benefits. 

Sullivan & Worcester’s London office is located at Tower 42 in the heart of the City of London. Details are as follows: 25 Old Broad Street, London EC2N 1HQ, Tel: +44 (0)20 7448 1000. 

For more information, please visit www.sandw.com.

Contact:
Will Hulbert
+44 (0)1603 431 936
will@hulbertandco.com 

Leah Schloss
+1 617.338.2448
lschloss@sandw.com