Uruguay Seeks to Strengthen Corporate Compliance Programs Amid Increased Focus on Anti-Corruption Efforts

Introduction

Uruguay’s commitment to combating corruption has led to significant developments in the country’s anti-corruption laws and regulations. As part of its efforts, Uruguay is working to strengthen corporate compliance programs, which are essential for companies operating in the country.

Importance of Corporate Compliance Programs

Under Uruguayan law, corporations cannot be held criminally liable, but they can face civil or administrative sanctions for acts of corruption committed by their employees. This highlights the importance of implementing effective internal anti-corruption measures to prevent and detect such misconduct.

Key Features of Effective Corporate Compliance Programs

• Policies and procedures for preventing bribery, corruption, and other forms of malfeasance
• Mechanisms for reporting and addressing potential wrongdoing

International Cooperation and Transparency

Uruguay’s commitment to combating corruption is reflected in its membership in various international conventions, including:

• Interamerican Convention against Corruption
• United Nations Convention Against Corruption

The country has also taken steps to enhance transparency and accountability, such as the creation of the Junta de Transaprencia y Ética Pública (JUTEP), which provides guidelines and resources for companies seeking to implement effective compliance programs.

Specific Regulations and Guidelines

Uruguayan law prohibits the acceptance or offering of gifts, favors, promises, or advantages in exchange for public officials’ actions or omissions. Companies must also comply with regulations on hospitality and travel expenses received from governments, international organizations, or non-profit entities.

Benefits of Implementing Corporate Compliance Programs

• Mitigate risks
• Demonstrate commitment to good governance and ethics

Conclusion

Uruguay is taking steps to strengthen its corporate compliance programs, reflecting the country’s commitment to combating corruption. Companies operating in Uruguay are encouraged to establish robust internal anti-corruption measures to prevent and detect misconduct, ensuring a more transparent and accountable business environment.