This week marks the first birthday of the Clean Companies Act, Brazil’s answer to other countries’ anticorruption laws such as the U.K. Bribery Act and the U.S. Foreign Corrupt Practices Act. The CCA is designed to prevent bribery of domestic and foreign public officials, as well as punish bid rigging and fraud in public procurement. It covers any business that maintains a legal entity in Brazil or has an office there.
Companies are still waiting for the Brazilian government to further flesh out the CCA with some new regulations, but as of Jan. 29, 2014, it has been the law of the land. And any organization doing business in Brazil needs to complete its due diligence and plan accordingly in preparation for enforcement in the near future.
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