On January 9, the Executive Branch approved the Regulation of Law 30.424, on administrative liability of legal entities for transnational bribery. The new document is a guide for legal entities to design and implement policies to prevent, identify and mitigate the risks of committing these crimes.
The text provides a classification of legal entities and a list of principles that will characterize the prevention models. In order to design a prevention model, legal entities must first evaluate their risk profile. Once the risks have been identified, they must then implement prevention, detection or corrective measures. These controls may be financial or non-financial.
Finally, the regulation allows legal entities to choose between implementing a prevention model in accordance with the guidelines contained in its text or in any other international instrument that guides good practices against bribery and money laundering.
In turn, the Ministry of Economy, through Resolution 443-2018-EF/41, approved the Integrity and Anti-Corruption Sectorial Plan 2019-2021. Through this policy, the government seeks to strengthen its capacity to prevent acts of corruption. The plan will be implemented by the Ministry’s agencies, public agencies and related entities (including the Private Investment Promotion Agency, the Superintendency of the Securities Market and the National Superintendency of Customs and Tax Administration).