Anti-Bribery and Anti-Corruption Policy

1. Introduction

• Alder King LLP has a number of fundamental principles and values which it believes are the foundation of sound and fair business practice and as such are important to uphold.
• The Firm will not tolerate fraud, bribery, corruption or abuse of position for personal gain, wherever and in whatever form it may be encountered. This document is intended to clearly set out the legal requirements standards and principles the Partners and employees of the Firm are required to adhere to.

 

2. Legal Obligation

It is Alder King’s policy to comply with all laws, rules and regulations governing anti-bribery and anti-corruption law.

• Under UK law the payment, or offer to pay bribes, or provision of or offer to provide gifts or anything of value for improper purposes to obtain or retain business or any other benefit, (whether for Alder King or any other party) is prohibited.
• Such payments or gifts are also forbidden under the terms of this policy and may result in immediate dismissal for those involved in their payment or receipt.
• Alder King is required to keep financial records and to have appropriate internal controls in place which will evidence the business reason for making payments to third parties.
• Where identified, breaches will be reported to the relevant authority. 

 

3. Policy

This policy applies to individuals, agents, sponsors, intermediaries, consultants or any other people or bodies associated with Alder King LLP or any of its subsidiaries and employees.

• Bribery is committed when an inducement or reward is provided in order to gain any commercial, contractual, regulatory or personal advantage for the Firm or another party.
• No bribes of any sort may be paid to or accepted from individuals and organisations (e.g. partners, clients, suppliers, contractors, service providers, private individuals or companies).
• It is not permitted to establish accounts or internal budgets for the purpose of facilitating bribes or influencing transactions.
• Facilitation payments (the practise of paying small sums of money as a way of ensuring that duties are performed, either more promptly or at all) are not acceptable in any circumstance.
• Where relevant, Alder King LLP will include appropriate clauses within its Terms of Business regarding the consequences of fraud, bribery and corruption; evidence of such acts are likely to lead to a termination of the particular contract and may lead to prosecution.
• This policy does not prohibit the following practices providing they are reasonable, proportionate and are made in good faith.

1. 1. Normal and appropriate hospitality, given or received.
   2. The giving of a ceremonial gift at an event or at another special time.

• Alder King LLP recognise that market practices may vary and would not wish to cause offence to trading partners. The test to be applied in all circumstances is whether the gift or entertainment is reasonable and justifiable, is there an intention to induce improper performance.
• Special care must be taken in accepting or giving gifts or entertainment and these are not permitted where it would create a real or perceived conflict of interest. Question:-

1. 1. What is the intention of the invitation/gift?
   2. What is the monetary value?

 

4. Employee Expectations and Records

Any proposed payment that has the potential to be interpreted as an intention to induce improper performance under the Act must be referred to the Senior Management Board for approval.

• The prevention, detection and reporting of bribery and corruption is the responsibility of all Partners and employees throughout Alder King who are required to declare the monetary value of any item, either given or received relating, but not limited, to:

1. 1. Gifts
   2. Hospitality, entertainment and expenses
   3. Client travel and hospitality
   4. Charitable donations and sponsorships

• However, reasonable hospitality and corporate entertaining falls within the category of normal business networking and does not require recording.
• If entertaining extends beyond normal business networking i.e. where other halves (employee partners) are included, more than one night’s accommodation is provided and employees are taken away at weekends at client’s expense etc. this needs to be recorded.
• Where you are unsure you are encouraged to check with the business before accepting any such hospitality.
• The Firm has an obligation to report to HMRC any business gift over £250 in any tax year, whether received as a one off or the total number of gifts accrued over the course of a year. Promotional items and gifts of negligible value are exempt from this rule.

 

5. Further Guidance and Monitoring

Inevitably, decisions as to what is acceptable may not always be easy, particularly in the absence of minimum legal standards.  If anyone is in doubt as to whether a potential act constitutes bribery or corruption, the matter should immediately be referred to the Senior Management Board.

• All incidents of concern should be reported to the Compliance Officer and will be treated in confidence, investigated fully and dealt with fairly.
• The Senior Management Board will review the Firm’s responsibilities to anti-bribery and anti-corruption periodically to determine the appropriate level of due diligence and updates to policy as required.