News 24.06.19

In Lava Jato Times, Business Compliance gains strength in country

Since the emergence of the Lava Jato operation, Brazil has […]

Since the emergence of the Lava Jato operation, Brazil has been experiencing a new historical moment with repercussions on society and on how to think and act in various sectors. Corruption is at the center of discussions at every corner and, equally, at high-level corporate meetings of all sizes addressing the issue of strengthening internal codes of conduct. This reflects a greater understanding of the negative effects that perceived corruption has on society and how much this practice compromises the image, values ​​and business of the company.

For this reason, many business owners have been implementing and intensifying processes to combat and prevent fiscal and political irregularities in companies. This practice is called Business Compliance, a term that is becoming widely used in the country with decisive meanings for all sectors. In Portuguese, the word means “acting according to a rule,” and in the current business world, it expresses that employees and managers are acting in accordance with Brazilian laws and international standards, as well as with internal codes of conduct.

Moreover, the term is much broader and not so recent. In 1970, the increase in social and government control brought to light the responsibility of shareholders and the criminalization of certain behaviors within companies. This new scenario gave rise to what is called transparency plans, which consist of the creation of rules that make business information clear and protect directors, officers and employees. This is the beginning of the Compliance sector, which is based on the pillar of compliance with internal rules and laws, promoting social responsibility actions and respect for employees.

The Breadth of Business Compliance

At the time the concept of Corporate Compliance emerged, preventive action in supervision was the responsibility of financial and legal sectors. Today, it encompasses the human resources sector whenever involves corporate policies compliance in relation to employees. However, historically, this work basically consists of legal practice that can be created internally or with the assistance of a law firm.

“This is a competitive advantage to attract investment and new business, to obtain credit, to strengthen business relationships and to reduce risks,” explains lawyer Fernando Sotto Maior Cardoso, founding partner of Sotto law firm. Headquartered in Florianópolis and São Paulo, Maior & Nagel Advogados is specialized in Corporate Compliance. In addition, according to Cardoso, the implementation of a Compliance program is also essential to companies that negotiate with public agencies, adapting to the requirements of the Public of Auditors.

Legal advice on Corporate Compliance focuses on corporate legal and regulatory responsibility. The objective is to ensure that the company is adequate in all aspects of management, legal, social and environmental responsibility. Services offered include advice and adaptation to national and international rules of corporate ethics and anti-corruption; the analysis of internal norms, policies and processes; and risk assessment. Corporate Compliance legal counsel also supports internal investigations, the implementation of control programs and tools, the drafting and implementation of codes of conduct, and training for preventing and identifying fraud and violations.

Sotto Maior & Nagel Advogados has a team that is specialized in Corporate Compliance and performs in the analysis and diagnosis phase, in the implementation of control processes and tools, in internal investigations and in training company employees and managers.

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