Brazil’s New Anti-Corruption Law

Brazil’s new anti-corruption law will become effective in January of 2014. This legislation was hotly debated and eagerly anticipated. Now that it has passed, we asked our constituents in the region to tell us the best or most positive aspects of the passage of the new anti-corruption law in Brazil. The following is a synopsis of some of their answers. Do you agree? Let us know what you think.

The new law is going to force companies operating in Brazil – who are not under DOJ jurisdiction – to play under the same rules. This will create a more level playing field for business. Competition will be based on the product or service, not on who pays a bribe.

The new legislations creates awareness within Brazil and globally. This is will help change the perception that bribery is ok Brazil. It is a sign to the world that Brazil wants fair play.

The new law brings Brazil more in line with the Organisation for Economic Co-operation and Development’s (OECD) Anti-Bribery Convention. Therefore Brazil will be more respected by the global community.

This new legislation gives the government enforcement agencies tools to use to investigate and fight corruption in Brazil.

The statute creates formal requirements, which means that domestic (Brazilian) companies large and small will now need to focus on anti-corruption compliance.