Brazil’s impending enforcement of its new global anti-corruption law underscores the importance of internal anti-corruption compliance programs.
Brazil’s landmark anti-corruption statute will take effect 29 January 2014. Enacted on August 2, 2013, Law No 12,846/2013 (the Law), establishes civil and administrative liability of legal entities in relation to acts of corruption.
The Law implements the Organisation for Economic Co-operation and Development (OECD) Anti-Bribery Convention, strengthens anti-corruption enforcement, and is broadly in line with (and, in some respects, even stricter than) similar legislation found in other jurisdictions — such as the US Foreign Corrupt Practices Act and the UK Bribery Act. Brazil’s Law represents a significant step, exposing companies — not just individuals — to liability and fines for the first time.
The Law applies to offenses against the Brazilian or foreign public administration, including acts committed outside of Brazilian territory. Therefore, the Law will directly impact foreign companies doing business in Brazil, as well as Brazilian companies doing business abroad.
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