Keywords: Brazilian senate, corrupt practices, Bill of Law
On July 4, 2013, the Brazilian Senate approved the Bill of Law 6.826/2010, which imposes civil and administrative liability on legal entities for corrupt practices. The Bill of Law is still subject to presidential sanction, and if approved, the companies operating in Brazil shall update their compliance policies to meet all the requirements of the new law.
The Bill of Law establishes (i) all corrupt practices and acts against domestic and foreign public administrations, such as the offer or promise of an undue advantage to a public official; to defraud a public bidding process or to finance illegal acts as provided in this Bill of Law; (ii) administrative fines varying from 0.1% to 20% of the gross revenue of the legal entity or between BRL 6,000.00 and BRL 60 million; and (iii) judicial penalties, which include, the disgorgement of assets, rights or values; suspension or prohibition of the activities of the legal entity; compulsory dissolution of the company and prohibition from obtaining incentives, subsidies, grants, donations or loans from public authorities.
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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."
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