The USCMA states several Chapters that contain innovative, agile, and modern provisions. However, such provisions turn out to be very demanding when seeking to transparent and strengthen trade, fair competition, and investment in the region, aiming to be consistent with the global reality among international trade relations. Among others, the regulations regarding labor, environment and digital trade stand out, and especially the anti-corruption regulation.
Chapter 27 “Anti-Corruption” of the USMCA is applicable to measures to prevent and combat bribery and corruption, making it essential that the Parties establish measures for the private sector to adopt and disseminate policies, guidelines and protocols that establish controls, and ethics and compliance programs for preventing and combating corruption in matters affecting international trade or investment, and to raise public awareness regarding the existence, causes, and gravity of corruption, and the threat posed by it.
Comments
The Anti-Corruption Compliance has a fundamental role in providing the necessary instruments so that the conduct of all the members of an Organization are invariably governed by its ethical values and principles, thus its actions will be fair, honest and always according to the law, seeking to safeguard the actions and responsibilities of the legal entity, detecting and correcting improper practices and promoting its reputation, which turns out to be an institutional intangible that represents a huge value.
This is not new for Mexico, since the 2015 constitutional amendment established the bases of a new legal order in order to prevent, detect and punish acts of corruption derived from the administrative liabilities of public officials, as well as by acts of individuals or legal entities linked to serious administrative responsibilities committed by such public officials.
Recommendations
It is essential to review and analyze, and if applicable to develop an Anti-Corruption Compliance in the legal entity in order to have the necessary integrity policies and that have an important level of penetration in the Organization.
Our Firm has been recognized for design and implement the foundations and structures for legal entities to have an accurate and proper Anti-Corruption Compliance considering the best international practices in this matter.
If you have any questions regarding the foregoing, please do not hesitate to contact us.
Mexico City, June 30, 2020
