16 March 2006
Companies wanting to make it on to the FTSE list of socially responsible firms will soon have to meet anti-bribery criteria.
The move follows the addition of counter-bribery measures to the existing list of requirements firms have to fulfil to qualify for the FTSE4Good Index.
The new criteria has been created in conjunction with anti-corruption group Transparency International. The 700 companies named on the FTSE4Good Index have been issued deadlines to meet the new regulations.
Around 130 firms, including oil and gas producers and equipment firms, chemicals and mining companies, have been identified as most at risk from exposure to bribery. They have until 1 July this year to meet the criteria. Firms deemed at "medium" risk, such as pharmaceutical businesses, hotels and technology firms, have until 1 January 2007.
The criteria can be downloaded from www.ftse.com/ftse4good