A UK government ban on BainAlerts from competing for state contracts sets an important precedent for the handling of companies found to have assisted with corruption overseas, according to lawmaker Peter Hain. Moneyweb CompanyNews
A UK government ban on Bain & Co. from competing for state contracts sets an important precedent for the handling of companies found to have assisted with corruption overseas, according to lawmaker Peter Hain. The global consultancy was this year found by a South African judicial commission to have had links with corruption in the country under the presidency of Jacob Zuma, specifically as regards work for the national tax agency.
Read: Bain gets three-year ban from UK government over ‘grave misconduct’ in SA “This is an important precedent which I welcome because when this was going on and Bain in South Africa was doing all this nefarious business and earning big fees in the process, then it was away from global scrutiny,” Hain told Bloomberg Radio. “I don’t think that public contracts should be handed out in a country like Britain to any company that has behaved in that unlawful way.
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