Cos. May See Stiff Fines Under Brazil's Anti-Corruption Law

Law360, New York (July 9, 2013, 6:36 PM EDT) -- In the wake of widespread public protests, Brazilian lawmakers signed off Thursday on anti-corruption legislation allowing the government to fine companies involved in bribery and bid-rigging up to 20 percent of their annual revenues.

Brazil's Senate passed a measure that would create civil liability for companies caught bribing public officials, rigging bids or financing illegal practices, with fines ranging from .1 percent to 20 percent of the company's annual turnover. If turnover data isn't available the fines can range from 6,000 reais to 60 million reais...
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