Brazil Corruption laws-Corporate Liability
Brail Corruption laws- corporate to be liable
According to a new law passed, very rapidly in response to ongoing demonstrations in Brazil, Corporates with employees found to have been involved in corruption (bribery etc) will be found liable to sanctions including:
20% of previous annually reported revenues capped at US$26.22m
Suspension of operations
Given the that this has legislation ahs been implemented to deal with massive frustration by general public it will be interesting to see if the first big cases (if any) are from recently privatised domestic indutries. Or will cross border investors be targetted as seen as being given preferential treatment over local firms?
Courtesy of David Castillo Dominici at freedigitalphotos.net