LexisNexis Announces Next Release of Due Diligence Solution Lexis Diligence
Latest release of online due diligence helps companies vet existing and prospective third party partners to comply with new UK Bribery Act 2010
LONDON, 08 April, 2011 – LexisNexis UK, a leading provider of content-enabled workflow solutions, today announced the next release of Lexis® Diligence as part of a series of due diligence solutions. Lexis Diligence provides companies with access to the intelligence needed to vet existing and prospective third party partners and, additionally, supports the associated requirements of the new UK Bribery Act 2010.
The UK Bribery Act 2010 sets out legislation requiring all UK registered companies to prove they have ‘adequate procedures’ in place to prevent ‘associated persons’ from misconduct. This effectively means that companies are accountable for bribery and corruption committed by third-parties such as suppliers, contractors and other agents acting on their behalf.
“As companies prepare for the implementation of the Bribery Act 2010, they need to make use of the best tools available to help them comply with the new rules,” said Dan Marshall, commercial director at LexisNexis in the UK. “Lexis Diligence saves companies valuable time and money by providing access to the intelligence they need for due diligence checks in one place. Our customers use Lexis Diligence to perform in-depth investigations in-house to help prevent bribery and corruption, money laundering and fraud. All searches in Lexis Diligence are time and date stamped so companies can prove that appropriate due diligence has been carried out.”
Lexis Diligence is aimed at serving compliance professionals such as compliance officers who need to perform due diligence checks. Core elements of the product include an intuitive search across multiple databases that delivers accurate and relevant matches against news and business information, sanctions and PEPs. Crucial results can be saved and printed to prove that adequate procedures are in place to comply with the UK Bribery Act 2010.
For more than 35 years, LexisNexis has helped organisations around the world perform fast, cost-effective due diligence. More information about Lexis Diligence is available at www.lexisnexis.co.uk/risk.
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 15,000 employees worldwide.
In the UK, LexisNexis (lexisnexis.co.uk) online services include LexisLibrary - named Online Product of the Year at the Legal Technology Awards - and Nexis® the single most powerful global news & business information service. The company has over 1,000 employees in the UK.
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