PSI Due Diligence Bureau - Meet your obligations under the law
Approved by the International Association of STM Publishers and in the aftermath of the 2011 and 2012 judgements wherein two publishers received large fines and lengthy commercial bans for failing to show reasonable endeavours to ensure that sales intermediaries understood the concept of and did not offer bribes, PSI’s Due Diligence Bureau (DDB) delivers US Foreign Corrupt Practices Act, UK Bribery Act and OECD Anti-bribery Convention compliance for publishers with international sales operations.
Specifically, PSI will:-
- Carry out a detailed Survey to all publishers’ active intermediaries and report the findings
- Conduct due diligence searches on those intermediaries for relevant company information – including sanction, watch lists, global news and legal history
- Provide access to an online database where information relating to Agents and Intermediaries can be reviewed on an ongoing basis by relevant staff members
STM Principles for Policies and Procedures for Publishers and Subscription Agents can be found below.