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Heloisa Uelze

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Heloisa Uelze is a partner at Trench Rossi Watanabe (in cooperation with Baker McKenzie) in São Paulo, Brazil.

On 1 June 2021, the President sanctioned Complementary Law 182/2021 (“Legal Framework for Startups”). The main goal of the new law is to promote and encourage innovative entrepreneurship in the country, focusing on the growth of startups as a path to economic, social, and environmental development; and the modernization of the Brazilian business environment.

The MAPA Integrity Recognition (“Selo Mais Integridade”) was created on 12 December 2018 by MAPA Ordinance No. 2462 to recognize and reward agribusiness companies for their integrity practices — particularly in terms of social responsibility, sustainability and ethics — in addition to validating their efforts to mitigate fraud, bribery and corruption. For 2021, agribusiness companies and cooperatives seeking recognition for these practices and for their commitment to prevent fraud and corruption have until 21 June to register for the Selo Mais Integridade 2021 to 2022.

Through Directive Release No. 2/2021/CVM/SIN, CVM issued guidelines on the minimum elements that must compose the compliance activities and the compliance report provided for in Articles 19 to 22 of CVM Instruction No. 558 (ICVM). The purpose of the document is to present to securities portfolio managers registered with CVM the topics that must be observed by the compliance area and, consequently, appear in the compliance report, as well as the corresponding tests that must be included. It is important to remember that, if the compliance area does not act independently or does not carry out its activities as required by ICVM 558, the institution may suffer sanctions, ranging from the issuance of an alert letter to, at the maximum, termination of society as a securities portfolio manager. The report regarding compliance activities in 2020, which must be prepared by April 2021, should observe the guidelines described in this directive release.

The new Bidding Bill of Law provides for integrity programs as well as greater control and transparency in public tenders.

The Brazilian Bidding Law (Law 8,666/93) and other laws related to public procurement (Law 10,520/2002 and articles 1 to 47 of Law 12,462/2011) are about to be replaced by Bill of Law No. 4,253/2020, which was recently approved by the Federal Senate and is pending presidential sanction.

The new legislation, which is 27 years in the making, provides relevant updates from a compliance perspective, such as: (i) the reinforcement of internal and external controls for public procurement; (ii) the strengthening of the relevance of a compliance program for companies willing to do business with the government; and (iii) increased sanctions for irregularities in public procurement.

The COVID-19 pandemic has affected all countries in Latin America. Administrative measures that limit or restrict economic activity have been adopted in most countries. Only some activities or industries have been able to continue operating, while the rest of the companies are waiting for the restrictions to be lifted in…

In view of the health crisis in Latin America following to the outbreak of COVID-19, as well as the economic and social impacts of this situation, many people and companies have expressed interest in collaborating with the governments to support their goal of preventing and controlling the spread of the…