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In Anti-Corruption

Argentina: Acting attorney general instructs prosecutors to intervene in settlement agreements

by and 4 Mins Read

By means of Resolution PGN No. 92/23, acting Attorney General Eduardo Casal established performance criteria for representatives of the Prosecutor’s Office (PO) to set the performance standards of the PO in conciliatory proceedings between the accused and the victims of crimes in criminal cases.

The Resolution establishes that: (1) the intervention of the PO in the process corresponding to the conciliation agreement is necessary to ensure legality and to ensure the interests of society; (2) the prosecutor shall oppose any conciliation agreement that disregards normative and international regulatory mandates (treaties and supranational conventions); (3) prosecutors may argue criminal policy reasons (prior convictions, previous agreements, probation or multiplicity of crimes) to oppose and/or not consent to the agreement; (4) representatives of the PO must ensure the agile and informal participation of victims; and (5) conciliation agreements may be entered into before the indictment control hearing, closing of the investigation, and/or the elevation to trial.

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In Tax

Brazil: Tax Reform approved by the Congress

by , , , , , and 2 Mins Read

On 16 December 2023, the House of Representatives approved the bill of Tax Reform, based on PEC 45 (Constitutional Amendment Bill), in the final round after the Senate’s approval.

The final wording was published on 21 December 2023 (Constitutional Amendment No 132/23).

In Tax

Ecuador: Technical file for the Standardization of the Transfer Pricing Analysis

by , and 1 Min Read

In November 2023, the Internal Revenue Service of Ecuador published a new version of the Technical File for the Standardization of the Transfer Pricing Analysis (Ficha Técnica), which incorporates changes to the content of the Comprehensive Transfer Pricing Report, and modifies some methodological elements. The criteria of the Ficha Técnica are applicable for the current taxable year 2023.

In ESG

Argentina: Hydrocarbons – national program for CO2 emissions measurement and reduction

by and 2 Mins Read

On 1 December 2023, the Energy Secretariat, through Resolution 970/23 (“Resolution”), created the National Program for the Measurement and Reduction of Emissions from Hydrocarbon Exploration and Production Activities.
Hydrocarbon-producing companies must submit: (i) an annual plan for the measurement of emissions; and (ii) a comprehensive five-year plan for the reduction and/or capture of emissions before the Hydrocarbons Sub-Secretariat, which will be in charge of issuing further complementary regulations.

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In ESG

Argentina: Carbon markets – National Strategy approved

by and 2 Mins Read

On 14 November 2023, through Resolution 385/2023 of the Ministry of Environment and Sustainable Development, the National Strategy for the Use of Carbon Markets (ENUMeC) was approved.
The ENUMeC aims to promote the implementation of carbon markets and the development of projects that contribute to the mitigation and adaptation to climate change in Argentina, in line with the international climate commitments undertaken by Argentina (under the Paris Agreement, the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol).

In ESG

Brazil: New National Policy for Quilombola Territorial and Environmental Management

by , and 2 Mins Read

Federal Decree No. 11,786/2023 was published on 21 November 2023, establishing the National Policy for Quilombola Territorial and Environmental Management (PNGTAQ). The policy aims to, among others, support and promote territorial and environmental management practices of quilombola communities, strengthen the territorial and environmental rights of these communities, and promote the implementation of public policies in an integrated manner and the conservation and sustainable use of biodiversity.

In AML & Financial Services Regulatory

Argentina: Communication “A” 7901 – Modifications to the foreign exchange dealers regime

by , , and 2 Mins Read

On 30 November 2023, the Argentine Central Bank issued Communication “A” 7901, which introduces amendments to the regime for foreign exchange dealers, including limits for the sale of foreign currency to entities authorized to operate in foreign exchange and to related customers, as well as new obligations for foreign exchange dealers.

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In AML & Financial Services Regulatory

Argentina: Communication “A” 7905 – Extension of the effective date of modifications to the National Payments System

by , , and 1 Min Read

On 30 November 2023, the Central Bank of Argentina issued Communication “A” 7905, extending the effective date of certain modifications to the National Payments System related to immediate debit and the interoperability of credit card payments through Quick Response codes.

In Employment

Latin America: Pay equity trends

by , , , , , and 1 Min Read

Inclusion and diversity are key factors today. As gender, racial, and ethnicity pay gaps have been slow to narrow, governments in Latin America have introduced more requirements to further reduce these differences.
In this quick overview, the Employment & Compensation group presents recent trends in pay equity in Latin America, highlighting critical issues to consider for your day-to-day decision-making.

In Product Regulation & Liability

Brazil: New state law creates the Consolidation of Consumer Protection Laws of the State of Sao Paulo

by 2 Mins Read

On 6 November 2023, State Law No. 17,832 of 1 November 2023 was published in the Official Gazette of the State of Sao Paulo, creating the “Consolidation of the State’s Consumer Protection Laws,” which aims to unify the main laws that protect consumer rights in the state, bringing them together in a single document to facilitate legislative consultation.

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