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Brazil's Clean Company Law: New Risks for Companies Doing Business in Brazil



by Jones Day - Cleveland Office

August 13, 2013

Previously published on August 2013

In early July, as millions of Brazilians flooded the streets to protest against government corruption and waste, Brazil took the final steps to enact a landmark anticorruption law. On August 1, Brazilian President Dilma Rousseff signed Law No. 12.846, also known as the Clean Company Law (the "Law"), which establishes a corporate anticorruption regime that shares characteristics with the U.S. Foreign Corrupt Practices Act ("FCPA") and the U.K. Bribery Act. The Law imposes strict civil and administrative liability on Brazilian companies for domestic and foreign bribery. International companies with a presence in Brazil are also covered if they engage in bribery within Brazil.


 

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