Tag Archives: ISO 37001

Understanding Peru’s New Compliance Program Reform of Law

08 Thursday Nov 2018

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Photo Credit: Radio Nacional

By Facundo Galeano, a Legal Fellow with CIPE’s Anti-Corruption and Governance Center

On July 1, 2017, Peruvian law n. 30.424 came into effect. It regulates the administrative responsibility of legal entities for the offence of transnational active bribery. In article 17.1, the law establishes that legal entities can be exempt from liability of the crimes if, prior to the commission of the crime, a compliance program is adopted and implemented in the organization. This new law is intended to help businesses reduce corruption related risks.

According to the new law, a compliance program must appropriately fit an organization’s nature, risks, needs, and characteristics, consisting of appropriate surveillance and control measures to prevent such crimes or to significantly reduce the risk of their commission. Article 17.2 lists all the minimum requirements needed for compliance programs and states that the requirements of the compliance program will be developed in the law’s regulation.  Read More...

Considering ISO 37001

28 Sunday Aug 2016

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The new ISO 37001 standard on anti-bribery management systems is expected to be finalized later this year. In many respects, the standard brings the re-affirmation of global best practices in anti-corruption compliance that emerged through norms such as the OECD Convention on Combating Bribery or Department of Justice and Serious Fraud Office guidance on the U.S. Foreign Corrupt Practices Act and the UK Bribery Act, respectively. At the same time, ISO 37001 is not likely to be a silver bullet to all the compliance challenges given its lack of clarity in focus on the existence of formal elements of a compliance program vs. its effective implementation, or the cost of certification that may be prohibitive for smaller companies.

William Marquardt, Director, and David Holley, Managing Director at the Berkeley Research Group, LLC (a private management consulting firm) analyze ISO 37001’s promise and limitations in a recent post on The FCPA Blog: https://globalanticorruptionblog.com/2016/08/25/guest-post-the-draft-iso-37001-anti-bribery-standards-promise-and-limitations/  Read More...