Portugal: The General Regime for the Prevention of Corruption enters into force: is your company compliant? 6-step check-list
Litigation and Arbitration Portugal Commentary
With this regime’s entry into force, companies must implement new mechanisms towards the prevention of risks of corruption and related infringements. Companies have one year to finalize the full adaptation of their compliance programs or endow their organization with all the necessary means to implement, review and control an effective system for preventing cases of corruption or face the regulatory penalty regime (with fines for companies that may reach 44,891.81 euros) that is drawing nearer.
On June 08, 2022 Decree-Law nº 109-E/2021, dated December 9, will enter into force, establishing the General Regime for the Prevention of Corruption (GRPC), applicable, among other and public private entities, to companies with headquarters in Portugal and branches in national territory of companies with headquarters abroad employing 50 or more employees. The penalty regime of the GRPC (with fines of up to €44,891.81) renders effects as from June 8, 2023 (with this date being June 8, 2024 for companies classified as medium-sized enterprises).
In order to know whether or not your company complies with the GRPC, we have identified here the 6 main mechanisms to be adopted and implemented on a regulatory compliance level for the prevention of corruption and related infringements.