FCPAméricas Blog

Costa Rica Strengthens its International Bribery Laws

Author: Guest Author

costaricaThis guest post is by Juan Carlos Tristan, a lawyer at BLP law firm in Costa Rica.

Costa Rica has intensified its regulatory policies regarding transnational bribery. On July 21st, the Costa Rican Congress approved the Reform Bill amending the “Transnational Bribery Criminal Offense”, codified in Article 55 of the Anti-Corruption and Illicit Enrichment Law. This change was made to punish international bribery crime pursuant to the highest international standards. Through this reform, some conduct that was previously not addressed is now covered by the law, specifically related to the “promising” of bribery. The reforms also cover improper acts performed through third party intermediaries, thereby conforming with international standards.

Since 2012, Costa Rica began the process of integration into the Organisation for Economic Co-operation and Development (“OECD”). As part of this process, the OECD required our country to adopt and implement certain instruments, including the “Convention on Combating Bribery of Foreign Public Officials in International Business Transactions” (“OECD Anti-Bribery Convention”).

The main purpose of the OECD is to promote internal policies aimed to achieve improved economic and social conditions of its member countries. To establish guidelines for Costa Rica to join the OECD, a roadmap has been created and approved that lays out the process for accession. Pursuant to the roadmap, Costa Rica plans to adjust its legal and regulatory framework for more than 250 international standards and fundamental values established by the organization, to comply with the Conventions and Protocols of the OECD.

One of the most important recommendations, and one of the main areas of focus for which the OECD has payed special attention, has been the combat against corruption in public service, both locally and internationally. Relatedly, a Working Group on Bribery in International Business Transactions has been established. This Working Group’s main purpose is to ensure compliance with the requirements of the OECD Anti-Bribery Convention. The adoption of clear and punitive legislation regarding transnational bribery acts is essential for the integration of Costa Rica into the OECD, and fortunately we are on track.

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.

© 2016 FCPAméricas, LLC

Post authored by Guest

Categories: Costa Rica, Enforcement, English, FCPA, OECD, Third Parties

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