Corruption is a significant risk for companies doing business in Mexico: bribery is widespread, and business registration processes, including the obtainment of construction permits and licences, are negatively influenced by corruption. But the Mexican government is not standing still.
Mexico’s new Anti-Corruption Act strengthens oversight of public officials and designates a Special Prosecutor to tackle corruption. It comes after several previous failed efforts to pass the bill. The Anti-Corruption Act applies broadly to Mexican and non-Mexican companies and individuals engaged in federal government contracting in Mexico, including bidders, participants in tenders, request for proposal recipients, suppliers, contractors, permit holders, concessionaires and their shareholders, and agents whether based in Mexico or abroad.
Will the new Act make a difference? Exactly, what does it do?
We are pleased to offer our updated 2017 “Business Crime in Latin America” overview chapter, focused on Mexico’s new Anti-Corruption Act, published by The International Comparative Legal Guide to: Business Crime, Global Legal Group Ltd, London (Oct. 2017). The chapter is authored by Partner Marta Colomar-Garcia and Associate Javier Ruiz (Diaz Reus Mexico).
For more information, please contact Marta Colomar-Garcia @ 305-375-9220.