Brazil’s landmark anti-corruption statute (discussed in the 17 July 2013 edition of the FFN), which was enacted on 2 August 2013, will take effect on 29 January 2014. The statute establishes civil and administrative liability of legal entities in relation to acts of corruption, strengthening anti-corruption enforcement in Brazil. It is broadly similar to legislation found in the US and the UK, such as the US Foreign Corrupt Practices Act and the UK Bribery Act. The statute applies to all legal entities with operations in Brazil, irrespective of their organisational form or structure, and allows the imposition of significant penalties.