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OPERATION CARWASH: THE AFTERMATH OF COLLABORATION WITH AUTHORITIES IN BRAZIL

OPERATION CARWASH: THE AFTERMATH OF COLLABORATION WITH AUTHORITIES IN BRAZIL

The “8th Anti-corruption Brazil Summit” promoted by the American Conference Institute (ACI) in Sao Paulo, on the 23rd and 24th of May, gathered experts from private and public sectors. Antenor Madruga, founding partner of FeldensMadruga law firm, chaired the panel discussion: “How New Cases are Evolving and How Brazil´s Enforcement Authorities are Collaborating”, that had Henirque Machado Moreira, from the Securities and Exchange Committee (CVM), Carla Veríssimo, from the Federal Prosecutor´s Office (PGR/MPF) and Beatriz Lopes de Oliveira, from the Sao Paulo State Prosecutor´s Office (MPE-SP).

“Operation Carwash is an example of success in collaboration among enforcement authorities. However, to advance in this field and avoid future insecurity due to a lack of coordination between authorities of control and prosecution, in specific cases”, observed Madruga. His experience as attorney, negotiating some of the most important plea bargain and leniency agreements, set between companies and authorities as part of the Carwash Operation has revealed, according to him, a certain fear on the part of clients that deals closed with the Federal Public Prosecutor´s Office may not be recognized by the Federal Comptroller´s Office (AGU), for example, or the General Attorney´s Office (AGU) or the Internal Revenue Services (RFB), among others. The biggest concern would be that the information revealed as part of the collaboration may be used by other enforcement agencies to impose sanctions to the company. After a round of debates, the participants emphasized the importance that all authorities recognize the deals celebrated by the Federal Public Prosecutor´s Office as a way to continue advancing in the field of collaboration.

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