Bruno Fagali has a law firm in Sao Paulo, Brazil, named Fagali Advocacy. He takes on cases that are involved in areas of the law like compliance, election law, advertising law, parliamentary law, and public law among other specialties. He earned his MSc in Administrative law from the University Of Sao Paulo Law School. In addition to managing his own law firm he also has worked for Nova/SB for the past few years as their corporate integrity manager. He was also the coordinator for the commission on “Ethics and Advertising Agencies” for the Brazilian Institute of Business Law and Ethics.
In recent years combatting corruption has been a big focus of the Brazilian federal government. They passed an Anticorruption Law which businesses have to be in compliance with. Bruno Fagali says that compliance is such an important issue in Brazil that most of that nation’s MBA programs are making teaching about it one of their focuses. He says that these types of courses can definitely help future business people learn about the challenges of compliance and why it is so critical of a thing for them to be addressing.
The reason for the focus on compliance is that corruption scandals have been erupting on a regular basis in Brazil over the past few years. Bruno Fagali says that one in-depth study, the Deloitte audit study, delved into efforts at companies to limit fraud and corruption. The study looked at 100 companies in different sectors of the economy, and of different sizes, to see how they were addressing anti-corruption measures. He says that this study shows that 73% of these companies are now putting place formal anti-corruption initiatives, something that only 59% of companies were doing the last time this study was conducted two years ago.
All this being said, Bruno Fagali says that the Deloitte study also shows that efforts in regards to anti-corruption still need to be beefed up at most businesses. He says that less than half of the companies looked at in this study have raised their efforts in this regard up into the good or optimal levels of risk management.