Business-driven Integrity in the Metals Technology Sector
The Metals Technology Integrity Initiative
was formed in early 2013 at a time when the companies were facing an increasingly competitive environment as a result of the decline of the traditional steel producing markets in Europe, and a shift towards emerging markets including the Far East and Indian sub-continent. These new markets presented companies with increased legal and compliance risks, in particular with regard to bribery at a time when law enforcement was on the increase against companies headquartered in OECD countries. For example, the ten highest settlements under the US anti-corruption law (the Foreign Corrupt Practices Act), were all negotiated between 2007 and 2011.