Brazil and Anti-Corruption Legislation
As one of the world’s largest energy producing countries, many US companies have subsidiaries in Brazil, which are subject to the Foreign Corrupt Practices Act (FCPA). Most of these companies have translated versions of the US FCPA compliance program. Such translations often disregard the size, nature, and particularities of Brazilian business, as well as the local risks and legal requirements pertaining to the Brazilian subsidiaries. Although these programs add value to companies, provide more security to investors and avoid reputational damage, aside from other benefits, they are mostly implemented by Brazilian subsidiaries of American companies subject to the FCPA. It is unusual to find a Brazilian company not subject to the FCPA that has a compliance program in place...
As one of the world’s largest energy producing countries, many US companies have subsidiaries in Brazil, which are subject to the Foreign Corrupt Practices Act (FCPA). Most of these companies have translated versions of the US FCPA compliance program. Such translations often disregard the size, nature, and particularities of Brazilian business, as well as the local risks and legal requirements pertaining to the Brazilian subsidiaries. Although these programs add value to companies, provide more security to investors and avoid reputational damage, aside from other benefits, they are mostly implemented by Brazilian subsidiaries of American companies subject to the FCPA. It is unusual to find a Brazilian company not subject to the FCPA that has a compliance program in place...