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Matteson Ellis Comments on Brazilian Anti-Corruption Efforts in The Wall Street Journal

Subtitle
"The Morning Risk Report: Brazil Gets Religion on Compliance"

The Wall Street Journal

Matteson Ellis commented on the increased attention to anti-corruption compliance in Brazil. Recent anti-corruption settlements with Brazilian companies feature compliance-monitoring programs with monitors who report to U.S. and Brazilian authorities: "Developments like that continue to open the door to interest and focus on compliance in countries like Brazil. Local jurisdictions learn about the new mechanism, which is an independent professional who is tasked with implementing compliance," Ellis said. Miller & Chevalier's 2016 survey on corruption in Latin America found that awareness of the need for compliance programs is high in Brazil. Nearly 90 percent of Brazilian companies have anti-corruption training, policies, and contract terms, Ellis said, a far higher rate than the average in the region. "These headline investigations [in Brazil] have direct effects on the perceptions of risk, and the perceptions of local governments on how to deal with that risk," he said. "People are more focused on compliance locally."