It’s all change in Brazil with the country’s new anti-corruption law, the Clean Companies Act, raising questions about whether companies should self-report wrongdoing and, if so, to whom. But one thing that hasn’t changed are the country’s strict labour laws, which practitioners warn can be a major issue on internal investigations.
David Sonter is Freshfields Bruckhaus Deringer’s corporate country partner for Brazil. He has over 10 years’ experience of the legal climate in Brazil and he talks to GIR about the challenges of advising clients there as well as the new anti-corruption law that’s just come into force.
Brazilian authorities are investigating allegations that SBM Offshore paid millions in bribes to Petrobras officials, the country’s main anti-corruption agency has told GIR.
This month, the Clean Company Act came into effect in Brazil, making legal entities liable for corrupt acts for the first time, and dramatically increasing the government’s powers to investigate and punish corruption. But confusion on how the law can be applied and criticisms of the enforcement structure have dogged the law’s first few days. Clare Bolton reports.
Thousands of prosecutors and authorities can enforce Brazil’s new anti-corruption law, causing concerns about how it will be enforced. The Clean Companies Act could be a major development in the fight against corruption but what it means for companies is still unclear.
Brazil’s Office of the Comptroller General (CGU), the main authority responsible for investigating government corruption, has questioned the decision to create a committee of politicians to look into bribery allegations concerning Petrobras.
Brazilian state-owned oil company Petrobras said it could lose up to US$15 billion if contracts with Dutch oil-platform services company SBM Offshore are suspended, in response to a query by the country’s main anti-corruption enforcer.
A company caught up in a Brazilian investigation of alleged illegal sales of World Cup hospitality tickets has complained about an illegal leak of evidence to the media, which local lawyers warn is a frequent problem in Brazil.
Brazil’s Clean Company Law was rushed in after a wave of protests over corruption erupted across the country, and should create deep changes in the local business environment. Rosie Cresswell looks at which firms are poised to take on the growth in enforcement, and the firms to which foreign lawyers turn when carrying out investigations in Brazil.
It’s all change in Brazil with the country’s new anti-corruption law, the Clean Companies Act, raising questions about whether companies should self-report wrongdoing and, if so, to whom.
Brazil’s main anti-corruption enforcer, the CGU, has failed in its attempt to gain access to a former Petrobras director’s testimony in a criminal investigation into bribery and money laundering.