Compliance » Corruption Reform In Mexico?

Corruption Reform In Mexico?

August 25, 2016

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Following an aggressive grass roots campaign, Mexico has enacted major changes in its anti-corruption regime. The final legislation, set to go into effect in July of next year, pared back disclosure provisions that were in an early version, but nonetheless marks “a significant step toward transparency in a country that consistently ranks among the most corrupt in the region and the world,” according to a client alert from Ropes & Gray. The new law creates an independent anti-corruption prosecutor, provides new whistleblower protections, stiffens penalties, and enhances cooperation among federal, state and local authorities in Mexico as well as the U.S. and other international regulators. Meanwhile, U.S. officials are keeping their eye on  companies doing business in Mexico, underscoring the importance of employee training and due diligence, particularly with regard to third parties, in order to steer clear of a Foreign Corrupt Practices Act charge.

 

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