Page 40 - CORRUPTION LATAM

dissolution of the company as a last measure.
• Slow and Bureaucratic Procedures: Administrative sanctioning procedures were often slow and bureaucratic, which prevented a quick and effective response to violations. Today, a clear and detailed structure is established for the administrative sanctioning procedure, from the initiation of the process to the final resolution, which includes defined deadlines for each stage of the process, guaranteeing a timely response. On the other hand, the right of defense of companies is reinforced, allowing them to present evidence, arguments and resources in their defense throughout the procedure, ensuring a fair and transparent process in application of the Procedural Principle of Due Effective Protection; Therefore, it is a substantial requirement that decisions and resolutions at the administrative and judicial level be duly motivated and published. Objectives of Law No 31,740
Law No 31.740 was enacted with the objective of addressing these problems and strengthening the regulatory framework for the administrative responsibility of legal entities, the main objectives of this Law being:
a) Strengthen the Prevention and Detection of Crimes within Organizations: One of the fundamental pillars of Law No 31,740 is prevention. The law seeks to encourage companies to adopt preventive measures that reduce the risk of engaging in illicit activities, this includes the
implementation of Compliance Programs and the designation of Compliance Officers responsible for supervising these measures.
The law establishes that companies must: a)✓Conduct periodic risk assessments to identify possible areas vulnerable to crime.
b)Implement clear policies and procedures to prevent, detect and respond to illegal conduct. c)✓Regularly train your employees on applicable legal and ethical regulations, creating a culture of integrity and transparency.
AdministrAtive sAnctioning procedures were often slow And bureAucrAtic, which prevented A quick And effective response to violAtions. todAy, A cleAr And detAiled structure is estAblished for the AdministrAtive sAnctioning procedure, from the initiAtion of the process to the finAl resolution, which includes defined deAdlines for eAch stAge of the process, guArAnteeing A timely response
b) Establish Clear Sanctions and Effective Procedures: For a law to be effective, it is essential that the sanctions are proportional to the seriousness of the crimes and that the procedures to impose them are clear and effective, so the application of Law No 31740 increases administrative sanctions for legal
päG :40
WWW.MoNTTGRoup.CoM