Preparing for Brazil's new anti-corruption law: what in-house counsel should know
By William M Sullivan Jr, Peter A Baumgaertner, Ryan R Sparacino, Paulo H C Varnieri and Kristen E Baker
Earlier this year, the Brazilian government approved a sweeping anti-corruption law known as the Brazilian Clean Companies Act (BCCA), which is set to take effect on 29 January 2014. The new law provides for a wide range of administrative and legal penalties for violators, and is as broad as — if not broader than — the US Foreign Corrupt Practices Act (FCPA). As Brazil’s economy continues to surge, and the Brazilian government continues to promote a vigorous anti-corruption agenda, companies that do business in Brazil must ensure that their policies and procedures are satisfactory. This advisory provides an overview of the anti-corruption enforcement risk in Brazil, summarises the new law, compares it with the FCPA and offers practical compliance suggestions for in-house counsel.
In addition to the corruption risk encountered by companies while transacting business in Brazil, there is now increased regulatory risk created by the enactment of the BCCA.
Brazil has historically received a middling-to-poor ranking on Transparency International’s Corruption Perceptions Index, which is a primary benchmark used by Western law enforcement and anti-corruption practitioners…
If you are registered and logged in to the site, click on the link below to read the rest of the Pillsbury briefing. If not, please register or sign in with your details below.
News from Pillsbury Winthrop Shaw Pittman
News from The Lawyer
Briefings from Pillsbury Winthrop Shaw Pittman
In Peabody v Time Warner Cable, Time Warner contended that a former account executive was not entitled to overtime pay because she fell into the ‘commissioned employee’ exemption.
The IRS has issued final regulations that permit employers and IRA providers to offer ‘qualified longevity annuity contracts’ or ‘QLACs’ under defined-contribution plans and IRAs.