In July, 2018, the Ministry of Transparency and Comptroller General of the Federal Union ("CGU") issued Ordinance No. 1,970 to amend provisions of Ordinance CGU No. 910, which "defines the procedures for establishment of administrative liability and for the execution of the leniency agreement as per Law No. 12,846 of August 1, 2013 ("Anti-Corruption Law")".
Under the new Ordinance, a legal entity seeking mitigation of a financial penalty due to a violation of the Anti-Corruption Law as provided for in Article 18, item V, of Decree No. 8,420/2015, must inform and prove the existence and effectiveness of a Compliance Program within the deadline set for the presentation of its written defense.
The Ordinance also defines the competency of the Inspector-General of the Union and the Secretariat of Transparency and Corruption Prevention to jointly establish the methodology for the analysis of the program, the instruments necessary for its application, as well as the templates of the Profile and Compliance Reports and other pertinent documents.
The Ordinance aims to ensure greater predictability and security to legal entities that adopt compliance measures regarding its use as a mitigating factor in the calculation of a potential penalty.
Visit us at Tauil & Chequer
Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."
© Copyright 2018. Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. All rights reserved.
This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.