ANTI-BRIBERY LEGISLATION IN BRAZIL: LATEST DEVELOPMENTS By Daniel Varga 21 January 2014

1 - OVERVIEW OF ANTI- BRIBERY LAWS IN BRAZIL

1– Summary of Brazilian Laws: 1.1Criminal Code Bribery of National Public Officials (Articles 316, 317 and 333) Bribery of Foreign Public Officials (Articles 337-B and 337-C) Misappropriation or other diversion of public property (Article 312) Trading in Influence ( Article 332)

1– Summary of Brazilian Laws: 1.2Law No. 8,429/92 (Civil Servants Misconduct Law) Civil and administrative Sanctions Sanctions against illicit enrichment Seizure of proceeds of offence Loss of political rights Fines Loss of function

1– Summary of Brazilian Laws: 1.3Law No. 12,846/13 (“Anti-Corruption Law) Enacted during the social unrest and public manifestations of 2013 Will enter into force on the 29 th of January, 2014 Amends Brazilian legal system in light of international standards

2 – International Agreements

2– International Agreements 2.1United Nations Convention Against Corruption 2.2 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions

3 – Brazilian “Anti-Corruption Law”

3– Brazilian Anti-Corruption Law 3.1 Main Features Strict civil and administrative liability of legal entities Strict civil and administrative liability of legal entities Broad Definition of illegal acts Broad Definition of illegal acts Strong economic and reputational sanctions Incentives for companies’ cooperation Joint liability of the parent company Database of perpetrators Pierce of the corporate veil

3– Brazilian Anti-Corruption Law 3.2 Critical Analysis Too many legislations Too many legislations Lack of a technical body for investigation and prosecution Lack of a technical body for investigation and prosecution Abuses from public authorities Successor’s liability

Thank You

Daniel Varga T: +44 (0)