Brazil's Major Step Forward in Penalizing Bribery and the Questions that Remain

Corporate Compliance Insights
09.09.13
In this article, Matteson Ellis addresses Brazil's new Anti-Bribery Law, scheduled to come into force in January 2014. The law, which applies to both Brazilian and non-Brazilian entities, will have a significant impact on companies globally. "This development is a wake-up call for international companies operating in Brazil, especially for ensuring that they have robust anti-corruption compliance measures in place," Ellis said. Specifically, U.S. and certain non-U.S. companies will need to pay attention to ensuring compliance with provisions of both the U.S. Foreign Corrupt Practices Act and local Brazilian laws. Ellis highlights new developments that the law brings, including the establishment of corporate liability for bribery violations, potential sanctions, and credit that companies can receive for self-disclosure, compliance, and cooperation. Other aspects of the law's provisions remain unclear, including the consistency and extent to which the law will be enforced as well as uncertainties regarding its scope.
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