Parliament passed Draft Law #11443 “On Amendments to the Criminal Code of Ukraine, the Criminal Procedure Code of Ukraine, and Other Legislative Acts of Ukraine to Bring Legal Entities' Liability for Corruption Criminal Offenses in Line with International Standards” (Draft Law) in the first reading.
The Draft Law aims to fulfill Ukraine's commitments to implement the recommendations of the Organization for Economic Co-operation and Development (OECD) on liability for bribery of foreign officials in international business transactions.
AmCham Ukraine member companies’ experts are convinced that the implementation of OECD standards represents a genuine change in the system and practices for combating corruption, particularly through the reform of criminal liability for legal entities. This reform should provide a number of positive changes, in particular, increasing the transparency and predictability of law enforcement actions, developing law enforcement practice, and generally increasing the level of investment attractiveness of Ukraine.
The business community looks forward to continued effective cooperation with the Parliamentary Committee on Law Enforcement Activities regarding the improvement of the Draft Law’s provisions and calls for to take into account the provided comments and proposals to the Draft Law while preparing it for the second reading.
