After having implemented stricter anti-bribery and corruption regulations in late 2015 and mid-2016, new criminal law provisions regarding confiscation orders and asset recovery will enter into force on 1 July 2017. The present legislation was considered to be insufficient. Further, the law implements European provisions into national law. The law provides new rules for compensation of damaged parties and lower prerequisites for confiscations. The new regulations might have an impact for corporations as confiscation orders might be imposed more easily and asset tracing could in some cases be facilitated.
We have composed the attached newsletter that provides an overview about the new regime.
If you have any questions please do not hesitate to contact us.