On 26 November, the OECD adopted new recommendations against bribery in international business transactions which replace the existing ones from 2009.
The recommendations complement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and are addressed to the convention-affiliated countries, including Sweden.
Although the recommendations are not binding, they set an expectation standard for Member States. They also form the basis when the OECD evaluates compliance with the OECD Convention in different countries.
The recommendations also include guidelines for the anti-corruption work (‘Good Practice Guidance on Internal Controls, Ethics and Compliance’). These have also been updated.
This article was originally posted on lexology.com