The Essentials of the New Brazilian Anti-Corruption Legislation

Spurred on by international pressure and massive street protests against corruption, the President of Brazil has signed sweeping new anti-bribery legislation.  The law has been a long time in coming – Brazil has been a party to the Anti-Bribery Convention of the OECD since 2000 and the United Nations Convention against Corruption since 2005; and this legislation was proposed three years ago.  Brazil, the planned site of the 2016 Olympics and the 2014 World Cup, holds enormous business potential for global companies because of its wealth of natural resources, growing middle class, relatively stable currency and other pro-development economic dynamics.  However, the country has notoriously Byzantine tax and regulatory systems, and corruption is endemic, making the business environment there difficult to navigate.  See “A Seven-Step Process for Mitigating Corruption Risk When Engaging Third-Party Consultants in Brazil” (Sep. 5, 2012).  How will this new law change the risk landscape there?  In an interview with the Anti-Corruption Report, Andrew M. Levine, a partner with Debevoise & Plimpton LLP, explained in detail the salient points of the new law and its implications for companies doing business in Brazil.

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