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Anti-Corruption Landscape in Ecuador

National Anti-Corruption Agency

Ecuador has a National Anti-Corruption Agency responsible for investigating and prosecuting corruption.

Anti-Corruption Due Diligence

• It is not common practice for companies to conduct anti-corruption due diligence in the course of mergers, acquisitions or joint ventures.
• Companies may consider conducting such due diligence on a case-by-case basis, but it is not a standard procedure.

Civil Actions against Publicly Traded Companies

• We have found no cases where shareholders of publicly traded companies in Ecuador have initiated civil actions related to any company’s violation of anti-corruption laws.

Notable Legislative and Regulatory Developments

• The Financial and Economic Analysis has implemented broad regulations to control and prevent money laundering, making it a significant regulator in the fight against corruption.
• These regulations aim to combat money laundering and ensure that financial institutions are transparent and compliant with anti-money laundering laws.

Challenges to Anti-Corruption Enforcement

• Ecuador still struggles with changing its corruption culture, which is deeply embedded in certain institutions, companies, and individuals.
• This cultural challenge makes it difficult to implement effective anti-corruption measures and ensure that companies and individuals comply with anti-corruption laws.

About Paz Horowitz Law Firm

The Paz Horowitz law firm provides a range of legal services, including corporate law, M&A, mediation, arbitration, compliance & anticorruption, and public procurement. The firm has experience in anti-corruption due diligence and has been recognized for its work in this area by international legal guides.