Page 58 - Demo

Doing Business in Brazil
58
Demand for implementation and improvement of compliance in corporate life is intimately related
to the increase of persecution and punishment, by the authorities and the courts, of illegal acts conducted by companies’ officers involving fraud, corruption, antitrust violations, and harassment.
All over the world, companies are implementing compliance programs in corporate structures. The main purposes of compliance programs are
preventing, detecting and providing the proper answer to illegal acts performed by any employee, partner or supplier. In Brazil, either due to a more recent and up-to-date federal legislation or as a response to certain foreign legislation, like the Sarbanes- Oxley Act and the Foreign Corrupt Practices Act of the United States and the international commitment
to fight money laundering and corruption, compliance programs surged both in the private and public sectors.
Law 12,846/2013, also known as the Anticorruption Law, is one of the most prominent Brazilian legislation that encourages companies to
seek the creation of compliance programs, to avoid harsh penalties for misconducts. Regulation of
the Anticorruption Law by Decree 8,420/2015 sets forth the main and mandatory aspects of compliance
programs that may reduce penalties in case of violation of the Anticorruption Law.
Even more recently enacted, Law 13,709/2018, the so-called Personal Data Protection Law, similar to its European counterpart (Rule UE 2016/679, the GDPR), sets forth responsibilities and penalties to