The American Bar Association (ABA) Section of International Law Anti-Corruption Committee hosted a panel on November 22 on “Brazil’s Anti-Corruption Scenario: Perspectives of the Multilateral Development Banks (MDBs) and Brazil’s New Anti-Bribery Legislation”. The panelists included Nicola Bonucci, the Director of Legal Affairs at the Organisation for Economic Co-operation and Development (OECD), Bruno Maeda and Carlos Ayres, two representatives from the Brazilian Institute of Business Law (IBRADEMP), and Maristela Aldana, Chief of the Office of Institutional Integrity of the Inter-American Development Bank (IDB).
The panel highlighted key aspects of the new Brazilian anti-corruption legislation, including strict civil and administrative liability on companies; as well as consideration of anti-corruption compliance programs when issuing penalties. The new law applies to both domestic companies as well as foreign companies with a presence in Brazil.
In addition to discussing the new law, the panelists highlighted other corruption-related developments as well, including the following:
- There has been a 133% increase in number of arrests made for crimes against the Public Administration between 2008 and 2012.
- There are currently more than 2,700 people in jail in Brazil on corruption-related charges.
- There are a number of ongoing investigations of bribery of foreign officials.
- Brazil also put a new anti-money-laundering law in place last year.
For more information about the ABA Anti-Corruption Committee, visit the ABA website. Read about a roundtable hosted by CREATe.org and ETCO in Brazil on the topic of anti-corruption and Brazil’s new legislation.