London | Frankfurt | Madrid | Milan | Rome

MODERN LAWYERSFOR CHANGING TIMES 'a City firm in a non-City location' - Legal 500

NOV
09

UK Film and TV Companies Warned of Corruption Risks Abroad

UK film and TV companies need to heed corruption and bribery risks in financing and making films abroad, fraud investigators at Ernst & Young have warned.

Ernst & Young’s Fraud Investigation & Disputes Services have warned that the next front for enforcers could be the film industry following a growing trend among studios to work in emerging markets on new productions.

There is also a general pressure on countries to raise quotas of imported films. In the US enforcers have begun to ask questions of studios about potential bribery of foreign officials showing the extent of filmmaking’s exposure to such risks.

The warning follows China’s relaxation on the number of foreign films that can be distributed in the country, while UK filmmakers looking abroad for new opportunities received a funding boost earlier this year.

Filmmaking can be exposed to corruption in a number of ways, including:

  • Gift-giving is important in certain cultures, but under some circumstances could be construed as a bribe. Filmmaking also may need access to areas or locations closed to the public which may risk so called ‘facilitation’ payments which are illegal under the Bribery Act.
  • Under the Bribery Act failure to carry out checks on third parties leaves a company open to unlimited fines if it was to have a bribery or corruption problem. Joint ventures and third parties doing business on filmmakers’ behalf should be background checked – film companies need to know who they are dealing with and what relationship they have to the government.

Mike Rudberg, partner in Ernst & Young’s Media & Entertainment Group, commented: “With recent regulatory changes, it is vital companies are aware of their potential risks. While in more regulated industries, such as oil and gas, aerospace and defence, employees have a mind-set to fight corruption, it may not yet be ingrained in the entertainment industry, particularly among local operations.”

Contact Jeffrey Lewis or Siobhain Egan for advice on these issues.

Continue reading
  1534 Hits
1534 Hits
NOV
09

Keith Wood Blogs about What the SFO Should Have Learned from the Kaupthing Case

Read Keith’s expert opinion on the lessons learned from the SFO’s conduct throughout the Kaupthing case here.

Continue reading
  1452 Hits
1452 Hits
NOV
07

Siobhain Egan Considers Progress on the UK Libor Investigation

Siobhain Egan has posted a new blog considering the progress of the UK criminal inquiry into the Libor scandal. Read the full blog here.

Continue reading
  1411 Hits
1411 Hits
NOV
02

RBS Could Settle Libor Investigations within Months

According to an article in the Telegraph, the Royal Bank of Scotland could announce a multi-million pound settlement within months over allegations its staff attempted to manipulate Libor. Read the full article here.

Continue reading
  1330 Hits
1330 Hits
OCT
30

New Blog from our Firearms Expert

Laura Saunsbury, our resident firearms expert, has written a blog post advising on delays with shotgun certificate renewals. This has also been published in the November/December edition of the CPSA's magazine, Pull!, on page 21. Click here to read the blog.

Continue reading
  1568 Hits
1568 Hits

Accreditations
and Awards

legal 500 uk leading firm 2017 chambers leading firm 2017