The following guest post is from Davi Tangerino and Filipe Batich. They are, respectively, partner and associate in the Corporate Criminal Law group of Trench, Rossi e Watanabe Advogados in São Paulo, Brazil.
Brazil’s anti-money laundering (AML) legislation was amended in July 2012, incorporating significant changes from the former law (see an earlier post about these changes here). This post highlights some of the main developments in the AML arena since then to gauge, as Brazilians often say, if “the new law has caught on” (has it become fully observed and enforced).
Today`s guest post is from Luis Carlos Torres and Andrea Vainer, partners at the law firm Torres | Falavigna Advogados in São Paulo, Brazil
Law 12.846/13, also known as the Brazilian Anti-Bribery Law, was widely heralded by the government as a milestone in the fight against corruption in Brazil. Among its many peculiarities, one in particular motivated this article: the leniency agreement.
The law provides that the highest authority of each public agency or entity may enter into leniency agreements with legal entities responsible for potential violations of the law, provided that this agreement results in identification of the others involved in the violation and in the swift obtaining of information and documents.
In order for such agreements to be executed, the legal entity is required to admit its participation in the illegal activity and to fully and permanently cooperate with the in...Read more
A new book published recently in Brazil is a good tool for compliance practitioners. The book, entitled Compliance: A excelência na prática (Compliance: Excellence in practice), was written by Wagner Giovanini, Siemens’s Compliance Officer for Brazil. Having served in this position for several years, Wagner was one of the first compliance officers in Brazil, with deep experience in the area.
With 506 pages divided in 14 chapters, the book covers numerous areas of anti-corruption compliance and related areas. Chapters of the book address topics such as how to design a compliance program, where to place the compliance area within the company, how to interact with other departments of the company (e.g., HR, internal audit, legal, marketing), best practices for implementation of hotlines, how to develop communication and training plans to promote the compliance program within the organization and third parties, how to create controls and processes to access the effectiveness of t...Read more