By the regulation of the Clean Company Law

By ETCO
24/02/2015

Six entities, including ETCO, sent a letter on January 28 to President Dilma Rousseff, reinforcing the importance of the federal regulation of Law 12.846 / 2013, the so-called Clean Company Law or Anti-Corruption Law, which holds legal entities responsible for acts of corruption.

In addition to ETCO, the letter signed by the Ethos Institute of Companies and Social Responsibility, BM&F Bovespa, the Brazilian Institute of Corporate Governance (IBGC), the Group of Foundations and Companies Institutes (GIFE) and the Brazilian Business Council for Sustainable Development ( CEBDS).

“We recognize that Brazil has made great strides in recent years in improving its integrity system, which prevents and combats corruption. As an example, we can mention the creation of the Comptroller General of the Union and the promulgation of the laws on the Transparency Portals, the Clean Sheet and Access to Information ”, says the letter, remembering that the Clean Company Law came into force on 29 January 2014. Its regulation by the Presidency of the Republic “is fundamental to avoid leaving legal voids that hinder its implementation”.

In the letter, the entities highlight the importance of clarifying the parameters that will be used to assess the effectiveness of companies' compliance programs; to define the responsibilities of each federative entity in the processes; to determine the parameters for leniency agreements and to communicate to society its effective implementation.