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The International Institute for State Law Studies (IIEDE), in partnership with the Brazilian Development Bank (BNDES),hosted a seminar on “New Paradigms in Compliance in Brazil” on Thursday morning, June 6th, at the bank’s headquarters auditorium in Rio de Janeiro, which was well attended.
Over the course of four hours, speakers discussed topics related to corporate governance and integrity practices in both public and private sectors. The opening panel featured Marcus Antonio Cordeiro Ribas, Regional Legal Manager at Banco do Brasil, the official sponsor of the event.
In the opening keynote, Patricia Miguel Gouveia, Superintendent of the Integrity and Compliance area at BNDES, outlined the bank’s policies in promoting an integrity agenda. “There has been an internal evolution in terms of procedures, and culturally as well. We are committed to spreading compliance among our employees so that they fully engage with this significant agenda, and externally, our role in fostering this agenda in society is clear,” she asserted. Gouveia represented BNDES President Aloizio Mercadante and Luiz Augusto Navarro de Britto Filho, Director of Compliance and Risk at the bank, and former CGU Minister.
Fábio Medina Osório, president of IIEDE, discussed “Anti-Corruption Compliance,” highlighting its three basic functions: mitigating penalties, rehabilitating sanctioned companies (requiring effective compliance for market re-entry), and exploring the causal link, a concept not yet fully developed in Brazilian law, where legal entities are held accountable for faulty organization and prohibited risks. “In such cases, if a company can demonstrate effective compliance, it could be exempt from such responsibilities,” he explained.
Mário Vinícius Claussen Spinelli, Executive Director of Governance and Compliance at Petrobras, detailed the company’s integrity policies in the post-Car Wash operation era. “Beyond anti-corruption, we focus on prevention and fighting harassment, data protection, privacy, and ESG-related issues, requiring professionals in the field to have a broader understanding than just anti-corruption matters,” he noted.
Marcelo Pontes Vianna, Secretary of Private Integrity at the Comptroller General’s Office, emphasized the government’s role in fostering a culture of integrity in the private sector, guiding practices and encouraging good behavior while suppressing deviations. He discussed the mechanism of early judgment, where companies acknowledge their responsibilities, settle their dues, and demonstrate behavioral changes. “It makes more sense for a company committed to behavioral change to have opportunities to change its institutional operations than one that continues litigation,” he argued.
Fábio Galvão, partner at Medina Osório Advogados in Rio de Janeiro and former career employee at the Securities and Exchange Commission, elaborated on the fraud prevention actions required for ISO 37001 (Anti-Bribery) and 37301 (Compliance) standards, which ensure quality in private companies’ integrity practices.
In the closing keynote, Walter Baère Filho, Legal Director at BNDES, criticized so-called “fake compliance programs,” advocating for the use of artificial intelligence to monitor the effectiveness of such programs. “BNDES is in the final stages of formalizing its adherence to the Brazil Pact, aiming to be a public actor in promoting an ethical and more integral business environment,” he announced.
The seminar was moderated by the distinguished Vanessa Cerqueira Reis, attorney and State Prosecutor of Rio de Janeiro, who added insightful questions and comments to the discussions.
The full seminar “New Paradigms in Compliance in Brazil” is available on the Medina Osório Advogados YouTube channel: https://www.youtube.com/watch?v=izbv8GNwdNE. The event received support from Banco do Brasil, the Federal Government, the Association of Members of Brazilian Courts of Accounts (Atricon), the Law School of the Federal University of Rio Grande do Sul, the Public Prosecutor’s School Foundation, the Advocacy Defense Movement (MDA), FGV Law, the National Association of Federal Police Delegates (ADPF), and Medina Osório Advogados.
Watch the seminar through the link: https://www.youtube.com/@medinaosorio