Brigard & Urrutia shares the results of the Latin America
Corruption Survey 2016
Brigard & Urrutia is pleased to share the results of the
Latin America Corruption Survey 2016 conducted by Miller &
Chevalier with Brigard & Urrutia Abogados along with other 12
top-tier Latin American firms representing 19 different countries
within the region.
This survey analyzed anti-corruption issues relevant in Latin
America such as: the perceptions on the effectiveness of regional
anti-corruption laws, the effects that corruption has on businesses
that operate in Latin America, and the tools and mechanisms
available for companies to combat corruption.
The compliance team of Brigard & Urrutia Abogados, with an
important trajectory in anti-corruption matters, led by Carlos
Fradique-Mendez and Maria Luisa Porto, worked actively in the
development of the survey and the analysis of its results for
Below please find available the documents related to the
The Panamanian Law 52 of October 27, 2016 (the "Law"), which relates to accounting records and the annual franchise tax of Panamanian entities (corporations and foundations), came into effect on 1 January 2017.
Por medio de Oficio 220-047982 del 29 de Febrero de 2016, la Superintendencia de Sociedades estableció que el domicilio del representante legal de una sociedad nacional debe corresponder a un lugar determinado dentro territorio nacional.
In order to remunerate the invested capital, Brazilian companies are allowed to distribute earnings to their shareholders in the form of dividends or under the concept of interest on net equity (juros sobre o capital próprio – JCP).
Investments by foreign investors in Brazilian financial and capital markets are regulated by the National Monetary Council (the "CMN"), the Brazilian Securities and Exchange Commission (the "CVM") and the Brazilian Central Bank ("Central Bank").
In 2014, the Brazilian Securities and Exchange Commission presented to a public hearing a draft of an Instruction that proposes to change the definition of the category of "qualified investors" of CVM Instruction No. 409.
The commercial agency contract, according to the Brazilian Legal System, is provided for by articles 710 to 721 of the Civil Code.
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