On December 9, 2024, the Brazilian federal government published Decree No. 12,304/2024 (Decree), which regulates Brazilian Law No. 14,133/2021 (known as Brazilian New Procurement Law). This law, in effect since April 2021, contains provisions mandating the implementation and development of compliance programs for companies doing business with the Brazilian government.
Brazilian authorities issue new decree on compliance guidelines for high-value government contracts
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New law encompasses ESG and is part of crucial drive for long-term economic improvement.