Brazil is the world’s seventh largest economy, with a GDP of over $2 trillion. The country is considered an emerging global market, has a large domestic consumer market and is attractive to foreign direct investments. Alongside this enormous growth, however, is the problem of corruption. A large body of regulation governs the interaction between the public and private sectors in Brazil. As a result, doing business in regulated sectors means that business will fall within a complex regulatory regime marked by uncertainty and burdensome bureaucratic requirements. See “A Seven-Step Process for Mitigating Corruption Risk When Engaging Third-Party Consultants in Brazil
” (Sep. 5, 2012). Brazil has now responded to global demands that it play a more active role in combating corruption on a domestic level – as well as the demands of the Brazilian public who have protested the lack of anti-corruption laws – with the enactment of a groundbreaking anti-corruption law that is aimed at changing the business culture in Brazil. In a guest article, Adriana Dantas and Luiz Eduardo Alcântara, attorneys at Barbosa, Müssnich & Aragão in São Paulo, Brazil, present an overview of the Brazilian Anti-Corruption Law and explore the potential impact on U.S. companies doing business in Brazil. See also “The Essentials of the New Brazilian Anti-Corruption Legislation
” (Aug. 21, 2013).