*By Alice Gomes
We recently celebrated the tenth anniversary of Law 12,846, of August 1, 2013, known as the Corporate Anti-Corruption Law, or simply LAC. This date marks a decade of significant advances in adapting and complying with international guidelines to combat illicit acts, contributing to the consolidation of a more honest corporate market, in which companies are held responsible for their corrupt actions, both administratively and in judicial system more effectively.
Many changes have occurred in the Brazilian corporate scenario since the implementation of objective liability for legal entities involved in fraud and acts of corruption. However, further progress is needed, as cultural changes solidify over generations. Therefore, a broader analysis reveals a positive balance, especially from the point of view of compliance with standards in companies.
According to a survey by Quaest in partnership with Transparência Internacional Brasil, which revealed that 95% of the companies consulted approve the legislation, demonstrating almost unanimous support for the creation of integrity systems and the promotion of a culture of compliance with standards in the country. With the objective accountability of organizations involved in practices that affect public administration, the Comptroller General of the Union reports the signing of 25 leniency agreements, resulting in a rescue of R$ 18.3 billion for public coffers.
In the beginning, the demand for compliance and integrity came mainly from global companies, large corporations and financial institutions. Compliance with regulations was often an extension of legal activities. At that time, many companies were in the process of creating compliance policies and needed to understand what was necessary to do due diligence, and these companies often turned to law firms and consultancies because, due to their limited resources, they could not had the capacity or knowledge to do so.
Third-party analytics has also begun to expand, moving beyond customers and suppliers to encompass the entire supply chain. When problems were identified, the compliance department was contacted. The requirement and encouragement of compliance programs influenced an environment of business competition based on good practices and capable of inhibiting public and private management that tried to promote their businesses through illicit acts.
Executives themselves recognize that integrity systems are still at an early stage and their effectiveness depends on the support of senior leadership in companies and the supervisory capacity of authorities. However, technology has advanced significantly over these years to meet market demand. We are currently in the process automation phase, aiming to reduce manual work.
The types of risks have also evolved, encompassing reputational, regulatory, strategic and now social/ethical risks. Previously, the analysis focused mainly on the corporate structure, negative news, sanctions, PEP (Political Exposed Persons) and processes. Now, the scope has expanded to include Municipal PEP and related to the 2020 Central Bank circular. Companies also began to analyze the Final Beneficiary and improve risk classification in a broader scope, with five risk levels, instead of the previous three.
The positive impact of the legislation is evident in the numerous collective anti-corruption actions in economically important sectors, such as agribusiness and civil construction. This points to a growing adherence to minimum compliance standards and the consolidation of a market in which all participants compete on equal terms. In this sense, due diligence is a fundamental component of compliance with regulations, as it allows the identification and mitigation of risks before they become serious problems. With the rise of environmental, social and governance (ESG) issues, we are also seeing the rise of Positive Due Diligence and the inclusion of social media in risk monitoring.
In the private sphere, there were significant incentives for companies to adopt compliance programs, not only in the Anti-Corruption Law, but also in the decrees that regulated it. However, we still cannot say that the compliance mindset is fully embedded in companies' business culture. Multinationals were already expressing concerns in this regard long before 2013, but the issue was new to many Brazilian companies, both medium and small, and even large ones.
Among the current trends in the evolution of due diligence in Brazil, especially in relation to the adoption of digital technologies and tools to improve the efficiency and accuracy of risk analyses, the incorporation of technologies and big data stands out, with the integration of data and the consolidation of information for more analytical and secure analyses. Automation and artificial intelligence have become important allies in complying with rules and guidelines, allowing time savings and greater precision and efficiency in carrying out repetitive tasks.
These 10 years of validity of the Anti-Corruption Law leave an important legacy, marking the beginning of the consolidation of compliance with standards in the private sector. However, there is much to be done. When it comes to political parties, football clubs and the public sphere, there is still a long way to go. Therefore, the law was just the first step in a game that is just beginning.
*Alice Gomes, Head of Sales at LexisNexis | Nexis Solutions
Notice: The opinion presented in this article is the responsibility of its author and not of ABES - Brazilian Association of Software Companies
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