FCPAméricas Blog

Costa Rica Adopts the OECD Anti-Bribery Convention

Author: Guest Author

OECD.CostaRicaThis a guest post from Juan Carlos Tristan, an attorney at BLP Legal in Costa Rica.

On May 10, 2017, the Costa Rican Congress approved the country’s adoption of the “Organization for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions” (the “OECD Anti-Bribery Convention”).

This decision undoubtedly represents a significant step towards the implementation of the highest international standards for the control and regulation of business ethics and corruption; specifically, the imposition of penalties for bribery (a key component of the OECD Anti-Bribery Convention).  Under the OECD Anti-Bribery Convention, Costa Rica will need to develop tools to codify, prevent, detect, investigate, and sanction bribery of foreign officials by Costa Rican persons and companies engaged in international business.

This represents an important step in the process started by Costa Rica in 2012 for its ultimate integration into the OECD. To carry out this process, the OECD requires Costa Rica to make certain efforts to implement tools and practices for Costa Rican public servants.

Among the steps already taken by Costa Rica was the approval several months ago of the “Transnational Bribery Crime” reform bill, which the country codified in article 55 of the Anti-Corruption and Illicit Enrichment in the Exercise of Public Service Law. Accession to the OECD Convention would be another step.

This is another example of the country’s commitment to ensure the implementation of the Action Plan, regarding the commitments included in the OECD Road Map, including the adherence to an important legal regime and the commitment to submit to different public policy reviews.

The opinions expressed in this post are those of the author in his or her individual capacity, and do not necessarily represent the views of anyone else, including the entities with which the author is affiliated, the author`s employers, other contributors, FCPAméricas, or its advertisers. The information in the FCPAméricas blog is intended for public discussion and educational purposes only. It is not intended to provide legal advice to its readers and does not create an attorney-client relationship. It does not seek to describe or convey the quality of legal services. FCPAméricas encourages readers to seek qualified legal counsel regarding anti-corruption laws or any other legal issue. FCPAméricas gives permission to link, post, distribute, or reference this article for any lawful purpose, provided attribution is made to the author and to FCPAméricas LLC.

© 2017 FCPAméricas, LLC

Post authored by Guest

Categories: Costa Rica, English, OECD

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