Firms still unaware of new rules on hospitality

Thousands of companies are unaware of new laws that could see their bosses jailed for up to 10 years, a survey suggests.

The study also found that one in 10 businesses had never heard of the Bribery Act.

The study for law firm Russell Jones & Walker found a third of companies were unaware of the details of new bribery offences and how they would affect corporate hospitality and client entertainment, while 37 per cent said they were "somewhat aware" and just 22 per cent "very aware".

The poll of 150 firms also found that 35 per cent said the law was to some degree an unnecessary legislative burden, with just nine per cent saying it was "entirely fair and reasonable".

Tim Coolican, one of the firm's partners, said "key questions remain as to how the act should and will be interpreted". The research will increase pressure on Ken Clarke to publish more detailed guidance on the new legislation.