Last Thursday, November 30, 2017, Argentina promulgated its Corporate Criminal Liability Law (Ley No. 27,401). This new law, which will enter into force early next year, establishes criminal liability for corporate entities, whether national or foreign, that engage in corruption offenses such as national and transnational bribery and influence peddling, unlawful enrichment of public officials, and the publication of false or incomplete financial information to conceal bribery or influence peddling.
Among other interesting features, Argentina’s Corporate Criminal Liability Law sets out sanctions specific to corporate entities (including fines of up to 5 times the amount of the improper benefit obtained or that could have been obtained), provisions for the exclusion or reduction of liability, as well as regulations relating to compliance programs and cooperation agreements.
The full text of Argentina’s Corporate Criminal Liability Law can be accessed here.