With ever increasing pressure on its government to stamp out corruption, Brazil presents a “Perfect Storm” for Foreign Corrupt Practices Act (FCPA) / Anti-Corruption enforcement approaching the 2016 Olympics. Having the Olympic Games centered in Rio de Janeiro presents the perfect opportunity for Dilma Rousseff’s government to show that it takes enforcement of anti-corruption laws seriously. As such, companies should ensure their compliance initiatives are being vigorously updated and monitored. This is especially the case with regard to third-party relationships.While passage of the Clean Companies Act (CCA) brought Brazil in line with an ever growing international consensus against corruption, the CCA has been sparingly enforced. Though the CCA penalizes both corporations and individuals for corrupt conduct, implementing regulations called for by its passage have yet to be enacted.The CCA applies a strict liability standard against companies, administratively and civilly, for those acts of corruption performed for their benefit. This standard distinguishes the CCA from the FCPA and UK Bribery Act, allowing Brazilian authorities to impose sanctions without a finding of corrupt intent against the offending company or its employees.While Brazil has an excellent enforcement mechanism in place to address foreign bribery, it has done little to actually utilize this tool… Read full this story
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